Home Insurance Cover Calculator

Work out home insurance cover instantly with clear inputs, formula shown and shareable results.

About Home Insurance Cover Calculator

Home insurance covers three distinct exposures: the cost of rebuilding the structure, the replacement cost of contents, and valuables which usually need to be separately declared and often individually valued. Land value is excluded because land is not destroyed.

Formulas

Structure cover

Structure = Built-up area x Rebuild cost per square foot

Total sum insured

Total = Structure + Contents + Valuables

Worked example

With the default values below, Home Insurance Cover Calculator returns Total sum insured required of $6,260,000.00. Change any input above and every figure here is recalculated in your browser.

Inputs used

Built-up area: 1,800 sq ft
Rebuild cost per square foot: 2,200
Value of contents and belongings: 1,500,000
Jewellery and valuables to be covered: 800,000

Results

Total sum insured required: $6,260,000.00
Structure (rebuild) cover: $3,960,000.00
Contents cover: $1,500,000.00
Valuables cover: $800,000.00

Step by step

1Values used
2Structure cover
3Total sum insured
4Total sum insured required= 6,260,000.00
5Structure (rebuild) cover= 3,960,000.00
6Contents cover= 1,500,000.00
7Valuables cover= 800,000.00

Assumptions and limits

The result is derived only from the 4 inputs listed above. Anything not among them is not part of the calculation.
In particular, this calculator does not take inflation, tax or compounding frequency into account.
Figures are rounded for display to 2 decimal places, so totals built from several rounded parts can differ slightly from the unrounded arithmetic.
Indicative estimate only. Fees, entitlements, limits and formulas vary by jurisdiction, statute, policy wording and the facts of the case. This is not legal, tax, insurance or financial advice — confirm with a qualified professional or the relevant authority.

How these calculators are built and tested is described on the Methodology page. If a figure looks wrong, please report it.

Indicative estimate only. Fees, entitlements, limits and formulas vary by jurisdiction, statute, policy wording and the facts of the case. This is not legal, tax, insurance or financial advice — confirm with a qualified professional or the relevant authority.

Frequently Asked Questions

Why is land value excluded?

Because a fire or storm destroys the building, not the plot. Including land value means paying premium on an exposure that cannot be lost.

What happens if I underinsure?

Average applies: the insurer reduces the claim in proportion to the underinsurance, so a 30% shortfall in sum insured cuts a partial claim by 30%.