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How often should you have your Building Insurance Valuation updated?
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The valuation is used to calculate the amount of Building Insurance Valuation you need to take out to cover the cost of rebuilding.
Most insurers will require you to have a Building Insurance Valuation carried out every three to five years. This is to ensure that the sum insured is accurate and up to date.
If the rebuild cost of your Building Insurance Valuation has increased, you will need to increase your level of cover to make sure you are fully protected.
It is generally a good idea to have your Building Insurance Valuation updated more frequently if your property has undergone any major changes or improvements. This could include an extension, conversion or major renovation.
Any of these could increase the rebuild cost of your Building Insurance Valuation property, so it is important to make sure your insurance cover reflects this.
If you are unsure how often you should have your Building Insurance Valuation updated, it is best to check with your insurer. They will be able to advise you on the frequency that is right for your individual circumstances.
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