HOME INSURANCE costs should come down in line with the fall in construction costs, according to the Society of Chartered Surveyors.

A new guide to house rebuilding costs, published by the society, shows that rebuild costs have fallen by an average of 4 per cent. The costs for the most common house type, the three-bed semi detached, have recorded falls of nearly 10 per cent.

Chairman of the society’s quantity surveyors division, Micheál O’Connor, said homeowners should ensure latest rebuild costs are reflected in their insurance premiums. “We would urge all homeowners to go to our website . They can then use the straightforward calculator on the site before renewing their house insurance or if they want to check they are paying the appropriate premium,’’ he said.

While the average decline was about 4 per cent there were variations depending on house type and location. The biggest decline, 10.2 per cent, occurred in Limerick while Dublin and Galway recorded falls of 8 per cent.