Insuring InformationInsurance Rebuild informationDear Member, Here is some useful Hastings District Council data relevant to the question of Rebuilding the Rudolf Steiner Centre after a fire, which we consider at our SGM on Saturday 14 October at 3pm.
Current Building Floorplan
Aerial View of Centre
++++++++++++++++++++++++ = $2,820 per sq metre, this table gives some idea of the cost of replacing the building in terms of area.
++++++++++++++++++++++++++++++++++++++++++ From https://sumsure.corelogic.co.nz/ for 280 sqm ESTIMATED COST TO REBUILD YOUR HOME Rebuild Cost$791,260 Professional Fees$60,850 Demolition$65,764 Subtotal$917,874 GST$137,682 TOTAL$1,055,556 An Insurance broker responded to our query re costs:“I’d really need to go to the market to provide some accurate advice, but I’m unable to do so as the Society’s policies fall due 4th August. Because the policies are “mid-term” no insurer will be prepared to offer indicative terms. However, based on what the market is doing and where I think the rates may come in, I would expect the premium for $800,000 to be roughly $6,500 plus GST. [$7,745] If you were to increase this to $1,000,000, I expect it would fall around $8,000 plus GST. [$9,200] Please note, these are a very rough indication only and certainly not accurate. They are solely based on where I think an insurer would pitch their terms based on the value, ages and construction of the building. As advised above, the only way to obtain accurate terms is to approach the market with six weeks from your renewal date.”
Our current policy cost us $3,127. Robin Bacchus Treasurer
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