Building Cost Information Service (BCIS), a trading arm of RICS, and the Association of British Insurers (ABI) jointly offer a free service to consumers – the house rebuilding cost calculator.  Available here, and on the ABI website, the calculator helps house-owners to check that they have insured their houses for the correct amount to rebuild. 

The sum insured

The sum insured is the amount of money for which your home is covered. It is the most your insurers will pay under any circumstances. You must calculate an adequate sum insured to avoid claim payments being reduced because of under insurance. Regular checks should be made to ensure it remains correct as it is your responsibility as the house-owner to get the sum insured right.

Most domestic house insurance policies require that the sum assured is the full rebuilding cost of the property. The market value of your home, or the Council Tax band valuation applied, have no direct relationship to the rebuilding cost of your home.

BCIS is commissioned by the ABI to provide guidance figures for the rebuilding cost of a home. The information provided here gives a general indication of rebuilding costs for many common properties within the UK, but it should be noted that it is not appropriate for all houses.

The information on this site gives you advice on how to check the rebuilding cost for a range of standard house types and a means of estimating costs based on some simple questions completed online.

Check your sum insured now!