Rebuild cost versus market value
Your home's buildings sum insured should reflect the cost to completely demolish and rebuild the structure from ground up, not its current real estate market value.
Contents cover protects furniture, electronics, clothing, and personal effects on a new-for-old replacement basis.
Worked example: Typical 3-bedroom home
A 115 m² property with a rebuild rate of $2,000 per m² requires $230,000 in buildings coverage. Adding $50,000 in household contents and $5,000 in high-value possessions establishes a total sum insured of $285,000.
Inputs for the home insurance calculator
Floor Area
Total interior living area across all floors of your home in square metres.
Rebuild Rate
Estimated construction cost per square metre to rebuild the structure.
Contents Value
Replacement cost of all furniture, appliances, electronics, and clothing.
Valuable Items
High-value jewellery, watches, art, and bikes exceeding single article limits.
Policy Deductible
Voluntary excess amount you agree to pay towards any property claim.
CALCULATOR QUESTIONS
Home insurance calculator questions
What is the average condition of average clause in home insurance?
If your property is underinsured (for example, insured for 70% of true rebuild cost), insurers will reduce claim payouts by that same proportion.
Does home insurance cover flood damage?
Standard comprehensive home insurance policies typically include flood damage, though coastal and high-risk zones may require specialized endorsements.