Brits have been warned to ensure they get the
best price for their
home insurance quotes .
According to research by Confused.com, nearly one in three people
believe that the
rebuild cost of their
property is the same or more than the current value.
The site has launched a new
rebuild calculator provided by the
Building Cost Information Service (BCIS), which can
automatically determine a home's
rebuild value using information from customers.
Darren Black, head of
home insurance for the website, said: The fact that one
in three consumers considers the rebuild cost to be the same as the
market value is unsurprising as it's difficult to calculate,
but it could see them paying over the odds,
year-on-year.
The launch of the new easy-to-use BCIS rebuild calculator is
designed to empower customers and subsequently enable them to get
the most accurate
home
insurance quotes possible.
Last week, the
Post Office stated that people must be aware of the need to
purchase
finance products such as
flood insurance due to adverse weather this month.
Home
insurance manager Emma Baunach said that recent events
highlighted the importance of having insurance to protect
homes and belongings.
