Property reinstatement insurance is not just about insuring your property for its market value. It covers the costs of things like demolition or structural damage, making it an essential type of insurance policy to have for homeowners and business owners. If you have a property that is yours, you should definitely take out a policy that covers the reinstatement value.
You will be able to get an accurate quotation from an insurance provider. They will be able to take into account all of the unique considerations of your property. For example, if you have a period or listed building, this can push costs up as they may need more work should something happen to them. You will also have to consider other factors, like the location of your property and the purpose of the building. Be sure to be completely honest with your insurance provider – it may push premiums up but you need a policy you can rely on.