Rebuilding costs for insurance purposes

Mexican Pete · Post by **Mexican Pete** » Fri May 09, 2008 10:04 pm

Does anyone have an up-to-date idea of rebuilding costs for insurance purposes? We have a 200 sq mts, 20ish year old place on VdeM and currently have rebuilding cover of €180k (€900 psm) – does this seem about right? Also, any idea on pool (4.5m x 9m) rebuild cost excluding equipment – bearing in mind the hole’s already there. We’ve currently got it covered for €25k.
Finally, I’m getting fed up with our current broker – an elderly English woman who seems to be less than efficient (to put it politely!) Any recommendations?
Many thanks, Pete.

Glasllwch · Post by **Glasllwch** » Sat May 10, 2008 7:37 pm

I've sent you a pm

carolyn · Post by **carolyn** » Thu May 15, 2008 2:42 pm

We changed last year to a company called Intasure that are underwritten by Lloyds. They deal particularly with holiday homes abroad. All the documents are in English but you also get an insurance certificate in the relevant language as well. We have not yet needed to make a claim, but at least we have some confidence in the insurer as they are regulated by FSA.
They are on the web at http://www.intasure.com/

Mexican Pete · Post by **Mexican Pete** » Thu May 15, 2008 2:53 pm

We looked at Intersure as well but they told us that (at that time) they were not able to cover earthquake damage so we decided not to go with them. The cover they provide now may, of course, have changed.

carolyn · Post by **carolyn** » Thu May 15, 2008 3:06 pm

They do now cover for earthquake damage though there is a fairly hefty excess. Their policy document is available to browse on the web site.

anil · Post by **anil** » Mon Jun 23, 2008 12:45 pm

I have just insured my property with intasure. they provide good standard policy.for a very reasonable price. They cover m efor public liability for 50000000 pounds, which was my main need, and alos buildings and contents. I also have very reasonable buildings insurance privided by my bank BANIF who cover the building for eartquake, riots, etc. for only about £7.00 a month, so may be try your local banks or Banif there is a goood mortgage broker in carvoeiro i know, if you need his details please PM me. happy to oblige

Bruce Wallis · Post by **Bruce Wallis** » Mon Jun 23, 2008 12:58 pm

Just as another option for you to consider, we did our insurance, including 3rd party liability, through Escritorio, who are just by the bank on the right hand road into Lagoa off the N125

Lesley Jean · Post by **Lesley Jean** » Mon Jun 23, 2008 2:56 pm

Can we get back to the original question and that is does anyone have an up to date idea of the cost of a rebuild for insurance purposes, rather than which insurance company everyone uses, I would be interested in the answer too, just to make sure we have our place insured for the right amount now, took ours out 5 years ago now, altho' I think we did update it a couple of years ago now.

rodstocker · Post by **rodstocker** » Sun Jun 29, 2008 9:53 am

Sounds about correct to me; €900 per sq metre for building and €25K for pool. May be a little on the high side but remember that you have to clear the land before you can start to build. Much depends on build quality. Also, some builders charge €2000 per sq metre but are not necessarily any better quailty.