I bought a house in France about twelve years ago and insured it for the purchase price, when I had a claim the insurance company said that the cost of re-building a house in France is approximately double if not more that the cost of buying an older property I was therefore underinsured, this is due to labour and material costs, most labours demand about €300.00/day, technical tradesmen can demand their own price due to lack of availability, but not unheard of to be charged €500.00/day for a rood tiler, electricians the sky's the limit.
I think you`ll find that here too, rebuild more than initial build