Insurance Re-Building Calculator

Did you know that Ireland’s chartered surveyors’ association, the SCSI produces a wide range of tools and guides to help consumers?

In September 2022, it published another helpful resource on its website.

One aspect of home ownership that few of us get excited about is insurance – be it car / home or
even pet, but it is an essential element and cannot be overlooked. We can however get excited
about not paying more for insurance than is necessary.

The rebuilding rates quoted are for speculatively built homes i.e. housing estate-type homes and
should not be used for other house styles such as one-off homes in the countryside or period
properties.

The rebuilding rates quoted are for speculatively built homes i.e. housing estate-type homes and
should not be used for other house styles such as one-off homes in the countryside or period
properties.

Homeowners should consider getting professional advice to be assured that the correct rebuilding
rates are used in these instances.

The SCSI does not provide advice to consumers on appropriate rebuilding figures for individual
properties.

Measuring your home:

If your house conforms to the standard types in the https://scsi.ie/consumer/build/calculator/
table of costs, you can use the following method to give a broad indication as to the amount for
which you should insure.

Calculate the internal area of your property by measuring the internal finish of the perimeter or
party walls within the property, ignoring skirting boards, at each floor level.

For two or three-storey houses, normally the upper floor is the same as the ground floor. However,
if it is different, you should calculate each storey separately to retrieve a more accurate area
calculation. Once you have all the areas, add them together to get the total Sq.Mtr area.

Consult the https://scsi.ie/ calculator and choose the appropriate house type and region and insert
your total floor area and add the cost of a garage if applicable.

You should add higher-than-average kitchen fittings, finishes, etc if appropriate. You should also add
for any other outbuildings e.g. studio, office.

It is essential that you re-assess your level of cover every year, based on current average
rebuilding costs, making allowance for any improvements or extensions that you may have made
since your last renewal date. For professional advice, contact your local Chartered Quantity
Surveyor.

The https://scsi.ie/ guide to re-building insurance costs and other related material are an invaluable
resource for homeowners and other professionals to rely on.

If you have a property that you need advice on, please do not hesitate to call or email brendan at
Mannix property Services 086 050 8804 / brendan@mannixproperty.ie

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