House building insurance

Questions and Answers

how do i find out how much it costs to rebuild my house (building insurance)?

A) Call your agent, they will go thru a program that will calculate the approximate replacement cost of your home. It only takes a few minutes if you have all the info on your house. Make sure you know the sq footage of the main floor and also the sq footage of the finished basement, sq footage of any porches,decks, additions to the house, breezeways Your agent should be happy to help you with this.

House insurance (building and contents). How can I get my £70 ?

Q) I asked for a quote on the net for Buildings and Contents Insurance. They promised £70 Cashback if they could not match my existing policy. They are more expensive. Have requested my £70....... but E mailes are returned as "undeliverable". What do I do next ? This must happen lots of times. Help please.

A) If you know the name of the firm try and find them on the FSA register www.fsa.gov.uk/register - that will have contact details. If the firm is NOT on the FSA register then they are committing a criminal offence and you should report them to the FSA. Once you have the contact details and made contact, if they will not pay you the £70 then you should 1) Instigate their complaints procedure (which they must have by law) 2) Report them to the FSA for misleading financial promotions.

House insurance (building and contents). How can I get my £70 ?

Q) I asked for a quote on the net for Buildings and Contents Insurance. They promised £70 Cashback if they could not match my existing policy. They are more expensive. Have requested my £70....... but E mailes are returned as "undeliverable". What do I do next ? This must happen lots of times. Help please.

A) If you know the name of the firm try and find them on the FSA register www.fsa.gov.uk/register - that will have contact details. If the firm is NOT on the FSA register then they are committing a criminal offence and you should report them to the FSA. Once you have the contact details and made contact, if they will not pay you the £70 then you should 1) Instigate their complaints procedure (which they must have by law) 2) Report them to the FSA for misleading financial promotions.

My old housing association told me that building insurance was included in the service charge, but it wasn't.

Q) I lived in my old house for 3 years. In that time I was under the impression that buildings insurance was included in the service charge I pay every month. I have since found out that I wasn't covered at all! Imagine if something bad happened to my house, I could have been facing financial ruin! I don't want them to get away with this. Can I claim compensation? If so, how much? I owned the freehold of the house, it was on an estate with both freehold and leasehold properties. I have an e mail from them stating that Building insurance is included, and even a policy document, but it now turns out that it is for leasehold properties only, and I was misinformed.

A) The following is based on the assumption were/ are the OWNER of a property paying a service charge to a housing association to maintain property grounds/ exterior. Can happen when a few owned properties are part of a block mostly owned by a housing association. If you were not the owner you didnt need building insurance. You will need to be able to prove that the housing association told you that building insurance was covered. Or convince whoever you complain to that the housing association told you this. As to what you could claim no idea, but as you have not suffered material loss................ I would have thought that the details of what was covered would be in documentation you would have been given. Possibly the best thing you can do is send the housing association a strongly worded complaint. The bottom line here is always get it in writing! If I believed everything I had been told about property over the years--- "Yes I am sure the council will let you lower the pavement for a new entrance" " The Boundary starts here" " You will be allowed to put an advertising sign there" "Thats not dry rot" Verbal promises are not worth the paper they are written on! In response to your update. In order to find out if you have a claim contact the citizens advice bureau, I think you might find it difficult as you have not experienced material loss.

My old housing association told me that building insurance was included in the service charge, but it wasn't.

Q) I lived in my old house for 3 years. In that time I was under the impression that buildings insurance was included in the service charge I pay every month. I have since found out that I wasn't covered at all! Imagine if something bad happened to my house, I could have been facing financial ruin! I don't want them to get away with this. Can I claim compensation? If so, how much? I owned the freehold of the house, it was on an estate with both freehold and leasehold properties. I have an e mail from them stating that Building insurance is included, and even a policy document, but it now turns out that it is for leasehold properties only, and I was misinformed.

A) The following is based on the assumption were/ are the OWNER of a property paying a service charge to a housing association to maintain property grounds/ exterior. Can happen when a few owned properties are part of a block mostly owned by a housing association. If you were not the owner you didnt need building insurance. You will need to be able to prove that the housing association told you that building insurance was covered. Or convince whoever you complain to that the housing association told you this. As to what you could claim no idea, but as you have not suffered material loss................ I would have thought that the details of what was covered would be in documentation you would have been given. Possibly the best thing you can do is send the housing association a strongly worded complaint. The bottom line here is always get it in writing! If I believed everything I had been told about property over the years--- "Yes I am sure the council will let you lower the pavement for a new entrance" " The Boundary starts here" " You will be allowed to put an advertising sign there" "Thats not dry rot" Verbal promises are not worth the paper they are written on! In response to your update. In order to find out if you have a claim contact the citizens advice bureau, I think you might find it difficult as you have not experienced material loss.

Where can we find out what year our house was built in, for the insurance, without asking the owner (UK)?

Q) a website would be ideal, please?

A) www.landreg.gov.uk www.landregistry.ie try these websites

Boiler Insurance?

Q) I moved into a new built house. Boiler + Radiator insurance £15 per month. Please, Please, I understand have insurance is better than no insurance. But what do you think? Electric heater is not expensive now. Can we have free electric blanket from Govt.

A) If you moved into a new house then the boiler and radiators will be newly fitted and under guarantee. I wouldn't pay £15 to insure them. Yes electric heaters can be cheap to run depending which type you get, if you want the govermnet to give you an electric blanket can you get 2 and send me one ;)

Boiler Insurance?

Q) I moved into a new built house. Boiler + Radiator insurance £15 per month. Please, Please, I understand have insurance is better than no insurance. But what do you think? Electric heater is not expensive now. Can we have free electric blanket from Govt.

A) If you moved into a new house then the boiler and radiators will be newly fitted and under guarantee. I wouldn't pay £15 to insure them. Yes electric heaters can be cheap to run depending which type you get, if you want the govermnet to give you an electric blanket can you get 2 and send me one ;)

Help! - New build insurance guaranttees?

Q) I have nearly completed building a new 3 bed house in Stockport on a plot of land i bought in auction last year. The problem is for me sell the house i believe i needed a insurance guaranttee or architects certification. I have neither. Any advice?

A) Yes. Go get the architects' cert. Or the insurance guarantee.

Help! - New build insurance guaranttees?

Q) I have nearly completed building a new 3 bed house in Stockport on a plot of land i bought in auction last year. The problem is for me sell the house i believe i needed a insurance guaranttee or architects certification. I have neither. Any advice?

A) Yes. Go get the architects' cert. Or the insurance guarantee.

I am buying a house. Please can someone explain what indemnity insurance for lack of building regulations is?

Q) It relates to a small extention on the prospective house that was built 10 years ago and seems not to have evidence that it complies with building regulations. What does the insurance provide for my vendor and ultimatly for us.

A) We had this problem recently. As far as I understand it covers you (the new purchaser of the property) for any expense if the extension should have to be removed, and the property reverted to it's original state. If it was altered 10 years ago, you've not got a huge problem. It'll only be if someone complains that the building doesn't comply. Your solicitor should be able to advise you better.

The builder of my new house refused to tell my insurance agent how much the house was worth.Why?

Q) We are buying a newly built house. We need house insurance up front in order to close on it. My insurance agent called the builder to see how much the house was without the cost of the land. The builder was furious and would not give the information to my agent....only an estimation...not the exact amount.I don't know why that would be such a problem.The agent would not tell me exactly what the builder said....I don't know why,just that he furiously refused. Now,we have met the builder several times and he seems like a nice elderly fellow who possibly couldn't have used the language that I imagine was possibly said.He has been in business over 30 years in this city.So I assume that he is reputable.I don't know why my insurance agent didn't tell me exactly what was said......I do not have virgin ears(I look like I do,though,) It just makes me sad and depressed now.(I WAS happy,upbeat and excited) .....and buying a house should be a HAPPY OCCASION!!!!!!!!!! OUR FIRST HOUSE!!!!

A) Get a new friggin insurance company. They should NEVER have to ask how much a house cost to build. They take the stats-- square feet, bathrooms, fireplaces, etc, and come up with a replacement value. Your contractor probably thought you were trying to pull something on him and find out how much profit he made. I'm betting no insurnace company has EVER asked how much it cost him to build the house and so he was suprised and suspiscious. I bet he politely refused first and the insurnace company tried to tell him that they had the right to know-- which they dont.

When you have water flooding your house or building, who do you call first? Insurance or emergency repair?

Q) We're trying to find out how important an ad in yellow pages is for an emergency flood company. Or, do people just called their insurance and use whoever they recommend?

A) Any insurance company would prefer, in the case of an emergency like a tree limb crashing through a roof, to make whatever emergency repairs are necessary immediately to prevent further damage, even if it is just covering the affected area with a tarp. If water is flooding your house, the first thing you need to do is to try to stop the flooding to prevent more water damage, and call the insurance company as soon as that is done. Protect the property first, then call the insurance. After all, they are going to pay and do not want a delay in making emergency repairs to cause more damage.

Need $$ help and/or govt grant to rebuild burnt house no insurance & on disability only $800/mo total income?

Q) My friend Vicki is on disability, can't work, gets only $800 per month total income, would work if she could, has several medical problems, owns a very small house (600 sq ft) but could not afford insurance and had a fire in early Jan 07, attic/roof burned and water damage thru-out house, utilities are off, house is uninhabitable, she has been staying w/ friends or in motel but can't afford that. house needs to be gutted and rebuilt or torn down completely and new house built from foundation up. wish extreme makeover would do it but probably not. Looking for any information on getting $$ help from private or public sectors, volunteers, organizations or firms to donate work/labor/materials to help her not be homeless. have looked on HUD website, hard to wade thru it all, hoping someone knows a short-cut. she lives in Kansas City, MO. Thank you.

A) The Government has created a portal to help individuals who need benefits because of life events such as your friend Vicki. I suggest she first explore all possible assistance she could get from the government. Tell her to visit http://www.govbenefits.gov Use the drop down button DO YOU NEED BENEFITS BECAUSE OF A LIFE EVENT? Choose the life situation best applicable to you and then see if you qualify for the available government assistance. Forget grant money - there's hardly any money for individuals. Go to the Catalog of Federal Domestic Assistance (CFDA) http://www.cfda.gov and Grants.gov http://www.grants.gov - these are two sites created by the federal government to provide transparency and information on grants. But you'd be hard pressed to find any grant that would support individuals. The Housing and Urban Development in their Grants Available page makes it clear that they do not provide grants to individuals -- hence no grants for a person to buy a home http://www.hud.gov/grants/index.cfm --------------------------------------- "While HUD does not offer direct grants or loans to individuals, we do work through local governments and non-profit organizations to make financial assistance and counseling available." --------------------------------------- But you can check with some non profits or charities in your area. Ask her to check out Habitat for Humanity, for example. Check out local churches and what they might be able to do to help - if they can recommend to you charities that may be able to give any type of asssitance.

Is there an insurance that will cover me, Old house built in early 50's?

Q) I have an old house 2000 sq ft built in the early 50's, problem is the electric wiring is still original...Everything works perfectly but it is still old. I want to change it ASAP but is there and Insurance provider that will cover me now? Who will or how can I find out?

A) Yes, any of them will, its just a matter of paying a higher premium.

Real Estate Value! I just purchased a new build house in July for 250k. My insurance says 325k to replace it.?

Q) A spec house the same model as mine down the street just sold for 280k with less upgrades and another with more upgrades just sold for 340k around the corner. I haven't gotten an appraisal being it has only been two months since I purchased. How does my insurance company "State Farm" figure it will cost 325k to replace my house and how is this value comparable to an appraisal?

A) When an appraisal is complete there are three types of approaches to value. 1) The sales comparison approach - This approach basically takes recent sales of comparable homes within your area or neighborhood, and compares them in relation to your house. This approach is used 99% of the time to determine single family home values. 2) The cost approach - This approach is derived from cost handbooks which tell the appraiser how much the average cost to build your house in your area is. They add that number to what what your land is worth. This is rarely used, but the mortgage companies still want it done so they can use it to get your insurance. Your insurance company probably used the cost approach figure on the appraisal to determine insurable value. 3)The income approach - which is only applicable to investment properties. In short, the actual value of your house is the value on your appraisal under the sales comparison approach. Your insurable value is what is on your appraisal under the cost approach.

if i buy a house built into a hill, what type of insurance do I need?

Q) I will need flood, homeowners insurance. Anything else?

A)

UK. Do I need to get insurance on a new built house before it is finished or will the builder cover it?

Q) this is a big national builder

A) It can go either way, depending on the contract with your builder. Either you own the land and the builder is working for you, OR, the title doesn't pass over to you until the building is complete. So you'll have to see WHEN you start owning it.

What would insurance be on a all brick house built in 1847 in Belleville,IL.?

A) Call your insurance company. If they dont insure homes that old ask if they know of a company that does. If they dont know search the net for insurance for historic homes. More info is needed to give a quote anyway. Location, updates, fire hydrant nearby?, etc. Hope that helps.

Why are my house insurance estimates so high?

Q) We're buying our first house & our mortgage guy estimated our costs for house insurance should be $400-500. We've gotten two estimates & they were $730 & $775. What could be driving up the costs that none of us expected? The home was built in 1920, has wood siding, & is in city limits (near hydrants). The only other factors I can think that may raise the price are the fact that the fire station is on the other side of the rail road tracks, the fact the home is situated on a State Route/high traffic road, & close to a bar... Or is there somthing more?

A) There are a few factors that can make the cost go up If the home was built in 1920 and depending on updates on the electrical wiring that can make it go up higher since it is more of a fire hazard. If it is near water as well that can make it go up as well fire places and wood stoves. I use to do insurance and those were some of the factors that can make it go up. Check with a few more companies you might be surprised and find a cheaper one.