The cost of rebuilding a three-bed semi fell by 10 per cent between March 2010 and March 2011, but many homeowners haven’t adjusted their house insurance premiums accordingly.

Following the publication of the Insurance (Amendment) Bill 2011 , the Society of Chartered Surveyors Ireland, which has a guide to rebuilding costs on its website, scsi.ie, is urging homeowners to ensure they are not paying too much for their home insurance.

The society points out that given the recent proposals to introduce a 2 per cent levy on all non-life and health-insurance policies, it makes sense that homeowners checked their home insurance policies to establish that they have the correct level of insurance in respect of house rebuilding costs.

Its guide looks at rebuilding costs for the main house types in Dublin, Cork, Galway, Limerick and Waterford. Homeowners who have unusual house types should contact their local Chartered Quantity Surveyor for a full reinstatement assessment. A full list of Chartered Quantity Surveyors is available on scsi.ie

Speaking of things financial, Frank Conway of Moneycoach.ie, along with Sinead Ryan, is about to launch Cents & Sensibility – A Financial Guide for Young Adults. This is in addition to their new book, Cents & Sensibility.

If more of us had learned financial literacy at a young age, we wouldn’t need reminding to check we’re not overpaying our house insurance.