What is the cost of building insurance?
You may not be able to see the forest for the trees when you are orienting yourself on the options for home insurance.
There are many insurers, and they all charge different premiums. Obviously, it is important for you to know in advance what the cost of building insurance will be in order to make a choice.
Cost of building insurance
Building insurance premiums are based on a number of different factors, so they are different for everyone.
The things taken into account are:
- the type of house
- The construction type of your home (the roof and walls)
- the reinstatement value
- the coverage chosen
- the deductible
- residence/region
Conditions and premiums may differ for special properties.
How do I calculate the value of my building?
When taking out buildings insurance, the value of the building must be determined. This is the rebuilding value of the home. This is the total amount needed to rebuild the home in the same condition.
A rebuilding value meter can help you calculate the rebuilding value of your building in an easy way.
To determine what it will cost to rebuild your home after it has been lost due to damage, the rebuild value meter can be used.
This does not include the foundation of the house. Should the foundation become damaged, a new foundation will have to be made when rebuilding the house. Most property insurance policies allow you to insure the foundation for a certain additional premium.
An insurer will ask you to fill out the rebuild value meter every 5 years to maintain the guarantee against underinsurance. If you move, you will also be asked this.
Home insurance costs
When comparing different providers, it is important to make sure that the policies are similar in content and coverage. A low premium does not automatically mean poor coverage and vice versa. A high premium does not always offer the best coverage.
Your buildings insurance premium may change when you move or when the rebuilding value of your home increases. In addition, the cost of your buildings insurance may change when insurers start comparing the total charge and total premium receipts. This happens once a year and can cause your premium to be increased. Premium adjustments are made per the contract expiration date.
Alpina works with several insurers. Therefore, we can easily compare for you so you can make the best choice.
You can also calculate the premium for your home insurance directly on our website.
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