Tax depreciation company BMT have released a free mobile app aimed at helping thousands of Australians reduce the risk of being under-insured for the rebuilding of their homes.
The BMT RepCost app is available at the Apple App Store and works to combat under-insurance by calculating the cost of rebuilding a house.
BMT says the estimations of cost provided by the app include the costs of demolition, debris removal, and construction.
According to ASIC, a property owner is considered to be under-insured if an insurance policy covers less than 90% of the costs to rebuild.
“Under-insuring a property is often unintentional because it can be very difficult to estimate all the costs involved in replacing the property and all of the assets it contains,” BMT CEO, Brad Beer said.
“The app provides valuable support for property owners because it can give a maximum and minimum estimated cost for fully replacing a home.”
Whether you are looking to buy your first home, move home, refinance, or invest in property, a mortgage broker can help. Access loans from all the major lenders, get help with paperwork – plus there is no charge for this service. Get help from a local mortgage broker
Top Suburbs :
Get help with your investment property
Do you need help finding the right loan for your investment?
When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.
Just fill in a few details below and we'll then arrange for a local Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus and appointment is free.
We value your privacy and treat all your information seriously - you can check out