Farmer996
Member
- Location
- North East
We've been with the same broker for 12 years. One thing that puts me off shopping around is building valuations. We bought another property next door to ours 5 years ago and it came with some large sheds. The insurance company originally used the valuation report from the bank's surveyors to work out the re-build costs. The new premium seemed way over the top and a lot of it was down to the sheds so I paid £200 for a quantity surveyor to assess the re-build costs for everything, including the houses. His figures were quite a bit below what the insurance company were using and reduced the premium substantially.
Since then it has gone up every year and one of the reasons (according to the broker) is because the re-build costs go up with inflation. So the question is, what's the right way to go about this? Should I shop around on current insured values then get the QS out again? Or get the QS out then shop around? It's another £200 but the premium is is a significant 4 figure sum so if if saves me at least £200 then it's worthwhile. Or am I going about this the wrong way??
Since then it has gone up every year and one of the reasons (according to the broker) is because the re-build costs go up with inflation. So the question is, what's the right way to go about this? Should I shop around on current insured values then get the QS out again? Or get the QS out then shop around? It's another £200 but the premium is is a significant 4 figure sum so if if saves me at least £200 then it's worthwhile. Or am I going about this the wrong way??