Buildings Insurance - how is it calculated?

squashmad · Post by **squashmad** » Thu 24 Apr 2014 6:02 am

Does anyone know how buildings insurance is calculated in the TRNC?

I am assuming it is based on m2 but is it £300/£400/£500 etc per m2?

kevnmax · Post by **kevnmax** » Thu 24 Apr 2014 4:34 pm

not too sure but last year mine was just under£2 a sq meter

squashmad · Post by **squashmad** » Sat 26 Apr 2014 5:24 am

Hi kevnmax,

That does not sound right £2m2? That means if your house is 150m2 and collapses for any reason you will only get £300 to cover the cost of a rebuild

I think you are under insured!

ozankoys · Post by **ozankoys** » Sat 26 Apr 2014 7:05 am

I think you are at cross purposes here! squashmad presumably you asking for £m2 rebuilding cost to calculate insured value?

squashmad · Post by **squashmad** » Sun 27 Apr 2014 12:54 pm

Ozankoys,

Yes I am and on re-reading my original post I see that I have not explained myself properly!