Your buildings insurance should cover the full rebuilding cost of your home (including garages and outbuildings) and not the market value, which could be very different.? Assessing the full rebuild cost of your property can be difficult.? The Association of British Insurers (ABI) have a calculator you can use.? Please note you have to register with them to use this.??If you are unsure what the rebuilding cost should be, we recommend that you seek professional advice from a qualified surveyor.
Your contents insurance should cover the cost of replacing all your household goods and personal belongings as new.? It can be difficult to assess this cost however you need to ensure you are not underinsured.