Work out home insurance cover instantly with clear inputs, formula shown and shareable results.
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.
Structure cover
Structure = Built-up area x Rebuild cost per square foot
Total sum insured
Total = Structure + Contents + Valuables
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.
Because a fire or storm destroys the building, not the plot. Including land value means paying premium on an exposure that cannot be lost.
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%.