Cost of building Vs. land - insurance purposes?

Discussion in 'Property Management' started by Phineas, 6th Jun, 2017.

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  1. Phineas

    Phineas Well-Known Member

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    Hey all you bright minds

    How do you go about choosing the dollars you want covered for building + contents on a freestanding IP home (unfurnished). My estimates of the land cost are very rough, and the best I can come up with is the cost of building a new home from scratch – even then quotes vary.

    Does anyone have a nice online calculator tool handy?
     
  2. dabbler

    dabbler Well-Known Member

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    Nope, you just need to know what the approx going rate is to build a similar place.
     
    big max and Joynz like this.
  3. Joynz

    Joynz Well-Known Member

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    Usually the insurance company will provide a cost for replacement after you answer your their questions about no of bedrooms, type of construction etc. That's what the premium is based on.
     
  4. brettc

    brettc Well-Known Member

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  5. Phineas

    Phineas Well-Known Member

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    Thanks all