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When buying a home it is important that you prioritise the purchase of insurance. 

Good, appropriate, accurate and flexible home insurance is essential if you want to have a positive claim result. You don’t want to get caught out because you haven’t disclosed relevant information or adhered to any specific policy terms and conditions. Remember, an insurance policy is a document that details the terms and conditions of a contract.

It is advisable to consider insurance early in the home buying process. However, it is often an afterthought and buyers can be surprised or frustrated when they find it difficult to procure insurance at a time-critical moment.

Here are some circumstances that may affect your insurance purchase:

Leaving the property unoccupied
Listed or Graded status
In a subsidence area
In a flood area
High rebuild value
Airbnb or other letting

Front doors of Edinburgh new town georgian residential properties


Market Value vs. Rebuild Value


For insurance purposes, you need to know what it would cost to rebuild your home (this should include all the structures within your curtilage). This is your ‘building sum insured’ and can be a very different figure to the market value.

Bruce Stevenson Insurance Brokers can provide you with an indicative premium based on the rebuild value of your potential new purchase so that you know what your insurance costs might be.

It is very important to get your rebuild value correct. Your home is likely to be most your most valuable fixed asset. Some home insurance policies apply the ‘average clause’. This means that if your building sum insured is below the correct value to rebuild it at the time of a claim, the insurers will proportionately reduce your claim payment by the percentage of underinsurance. This can also be applicable to the contents.

Bruce Stevenson Private Clients Director Mark Richards visiting a client.


With the cost of home insurance increasing, you may benefit from contacting us for a complimentary review of your house insurance requirements. It costs nothing to find out if you are properly insured. We provide cover for:

Home & Contents
Fine Art & Antiques 
Holiday Homes
High-Value Cars
Jewellery & Watches
Let Properties
Residential Building Works
Listed Properties


Frequently Asked Questions


My policy is not due for renewal yet, should I contact you?     +


Yes. Your insurance needs may have changed and your policy is no longer suitable. If not, speak to us anyway and we can arrange to contact you nearer your renewal date.


How do I find the rebuild value of my property?     + 

This is a common question. If you have recently purchased your property, you may find the rebuild valuation in your home report. You may also find it in your current building insurance documentation. You can contact a desk top surveying company. We have access to professionally qualified desk top surveyors with preferential rates in the region of £120 including VAT.

You can hire a chartered surveyor to evaluate your home and prepare a reinstatement cost assessment. Remember the rebuild value is not the same as market value.


I am buying a property, but I am not going to live in it yet and might do building works. Can I buy a policy that covers me for this?     +


Yes, we have access to insurers who are specialists at insuring homes undergoing building works and/or are unoccupied. Be aware that most standard home insurers will not cover substantial home renovations and building works. Why? Because there is an increased risk of damage happening to your buildings and contents.

Remember, if you plan to carry out any structural or extensive home renovation works to your property you should let your insurer know so that you can make sure that the work your’e doing doesn’t invalidate your policy. If it does, get in touch with us.



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Tailored Home and Contents Insurance from Bruce Stevenson Insurance Broker

For a complimentary review of your home and contents insurance - contact us here

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