If you use a building to host your events, the value of your buildings sum insured is calculated based on the cost of how much it would take to rebuild the property to you as the business, rather than today’s market value. This would include the labour and the materials, especially if you are able to source the required work at a reduced cost. Don’t forget to take into account other areas such as design costs, legal fees, professional advice, planning, site clearance and removal expenses.