Builders Advise – Sum Insured

Establishing home replacement cover in the past was based on a square meter rate with an unspecified replacement cost, this was somewhat unique to New Zealand and is now changing to the international standard of specified maximum amount payable.

This now allows insurers and underwriters to establish what their potential risk is in an event. Two houses next to each other may have similar square metre rates however due to construction methods and “spec” may have quite different replacement costs.

Click HERE to read the rest of this article written by Jason McClintock – Operations Manager for the Certified Builders Association

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