Insurance in Rockhampton QLD

[Of The Vultures]

My Terri Scheer insurances came up for renewal for two IPs in Rockhampton and I thought maybe someone knows what a reasonable building insurance sum would be for a typical 3br highset weatherboard house?

Both of mine are insured for $390,000 each which sounds high but I'm not familiar with how much it costs to rebuild in Rocky.

Thoughts?

 

[brettc]

My Terri Scheer insurances came up for renewal for two IPs in Rockhampton and I thought maybe someone knows what a reasonable building insurance sum would be for a typical 3br highset weatherboard house?

Both of mine are insured for $390,000 each which sounds high but I'm not familiar with how much it costs to rebuild in Rocky.

Thoughts?

As no-one has replied I will jump in. This is certainly not a perfect science and there are a lot of things that need to be considered, including removal of debris and costs regarding the site that you may not consider. The best way of course is to get a quantity surveyor, remembering that you need to replace at today's costs with brand new materials. There are a number of online calculator's that can give you some help, but they are only ever an indication. We expect to have one on our website soon that will provide a basic guide but it will only be an indication. The calculator itself is from a valuer so it is not our figures, although we haven't put it up live yet I am happy to private message you the test page (it's only a test page in relation to setting it on our page, the calculator itself works fine). That may at least help to some degree.

 

[Of The Vultures]

Thank you Brett, that was pretty helpful. Looks like I may be over-insured by about $100k on each house But to be safe I won't reduce cover by that much.

Incidentally, these are the only two of my properties insured with TS, everything else I have with EBM. But for some reason EBM was quite a bit more expensive in Rocky than TS, and TS is not cheap!

 

[brettc]

Thank you Brett, that was pretty helpful. Looks like I may be over-insured by about $100k on each house But to be safe I won't reduce cover by that much.

Incidentally, these are the only two of my properties insured with TS, everything else I have with EBM. But for some reason EBM was quite a bit more expensive in Rocky than TS, and TS is not cheap!

We've found the odd pocket like that, unfortunately once you're over the 26th parallel it can vary quite substantially at times, and you are pretty much at the whim of the underwriter's.