I fixed that for you.Originally Posted by Oscar
"channellling the Pleideans"
I fixed that for you.
I thought elections were decided by angry posts on social media. - F5 Dave
Curmudgeon
It's used to set the rates, actually.I fixed that for you.
Bogeyman
How many of them offer "agreed price" cover?
Might mean their people have to actually get of their arses and look to see if someone's trying to insure a hovel as a mansion, but outside of that the advantage is that agreement up front would clear up any percieved unfairness.
Go soothingly on the grease mud, as there lurks the skid demon
Curmudgeon
In effect we're all getting agreed cover now as many insurers are happy to take your word for the replacement value.
You need to insure your house at a figure that is not too high (so you don't pay premium for nothing) and not too low as to involve the infamous average clause.
Anarchic Wild Child
Yeah .. I do get that ... it's supposed to be close to the market value ... and "all up" includes the land ... so the insurance company's guess at the rebuild cost is unbeleivably high .. I would expect the cost of a house to be close to the rebuild cost .. not as far apart as that ...
"So if you meet me, have some sympathy, have some courtesy, have some taste ..."
Curmudgeon
Not always.
Depending on when the GV is done, it can be all over the place.
Because my house is only five years old, the rebuild cost (even based on the calculator) is way less than the GV.
That's probably because we live in a reasonbly flash area, we have a lot of land and that the GV is very new.
Anarchic Wild Child
OK .. yes .. but the rebuild value I have been given is more than DOUBLE the GV (minus the land value) .. don't you find that a little worrying?
"So if you meet me, have some sympathy, have some courtesy, have some taste ..."
Curmudgeon
Very.
You don't have to use it though - do you know any builders, valuers or quantity surveyors?
Get them to give you a figure.
I used the IAG calculator just now and it does seem to be very optomistic.
Bardcore Hiker
It's exactly why I challenged them. Brand new home & land packages can be bought in the area for less than the original rebuild price they quoted for my rental house.
Shaken, not stirred in the shakey city!
Forum whore
Insurance companies - guess high when they want your premiums, but wait until they have to pay out......
- He felt that his whole life was some kind of dream and he sometimes wondered whose it was and whether they were enjoying it.
Bardcore Hiker
Wrong, the facts are is you either use;
a) the value they have calculated & sent to you in the mail (way over-valued)
B) they will let you use the value that the online calculator gives if you don't want to use (a)
C) you can pay for an official rebuild valuation.
State refused to let me say the value I wanted my house rebuild set at. I argued the fact that If I wanted to insure my car for less than it's value, they would accept that & pay out that lesser amount if I were to claim. I had to fight for this, and it helped greatly that I had a very recent quote (from the same insurance co.) for a full demolition & rebuild on my larger more expensive house, that was still nearly 20% cheaper than the online calculator estimate.
Of an enviable height
What if inspections / signoff were voluntary 15 years ago. Fuck buying a house built then, no idea what's behind the walls, grading of wood, waterproofing of this that or the other, blah blah. Company that built it no longer exists (going broke? fuck the creditors and let's liquidate and make a new coy 2 years down the track).
To inspect anything in the house means ripping off this that or the other, invasive testing, some things to find out you have to rebuild em anyway = $$$$$
Oh, and I thought it was the Code that said perrmitted dumb shit like fix roughcast cladding direct to untreated timber framing, not Councils - they just enforced the code. Then when everyone's houses started leaking they whinged at Council cos it was 'signed off' - of course it did, but the the regs at the time were fucked.
I think building compliance gets lumped along with insurance and wearing a condom in 'necessary evils'.
Curmudgeon
Jeez, you're a bit of an expert, are you?
You've just repeated pretty much what I said.
The IAG (ie.the owners of State) "Need to know" website says that you can set your own sum insured as long as it's "replacement value"
Because you're in Chch, you have no ability to change insurers, but if State won't play ball, go to NZI (which is in the same group as State, but a bit more commercially focused) and you'll get what you want.
Bogeyman
So, what value was there in having a council inspection?
And why have a code in the first place if nobody is accountable for the results of building to it?
Given my choice I'd spend the money on a proper designer and an independent inspector and fuck BRANZ and the council, at least if the professionals fuck up I have some recourse.
Go soothingly on the grease mud, as there lurks the skid demon
Wearing Hi-Viz Black.
Don't forget to add in for the cost of a surveyor if your replacement building (or alterations) will be closer to a boundary than the existing main dwelling.
If you are unable to establish where the survey pegs are located, this is an additional grand on the bill.
TOP QUOTE: The problem with socialism is that sooner or later you run out of other peoples money.
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