There is expected to be a rush to re-value more expensive properties if the Chancellor raises the inheritance tax limit to £1million as predicted in the Budget but many home owners may have a shock in store if their properties have been dramatically undervalued for buildings insurance purposes. Many higher value properties may also be listed or of unusual construction which leads to higher re-build costs. It may be worth looking into even if you do not think you are affected by the inheritance tax changes; if the worst happens inadequate buildings insurance could lead a huge shortfall between the insurance pay out and the re-build costs.