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Building Insurance: Home Building Calculator

It is your responsibility as a homeowner to determine the total replacement and sum-insured cover for your home. Rebuilding costs generally go up over time and building codes change, the result being if you’ve lived in the same place for a while, the costs associated with rebuilding may have changed significantly.

The amount you insure for is known as your building sum insured. Your nominated sum insured provides cover up to a set amount to repair or rebuild your home.

Estimate the cost to rebuild your house

To help you to receive an estimate on the replacement value of your home, use the Building Calculator1 – it’s a prepopulated form using industry data collated by CoreLogic. 
 

At the end of this Building Calculator1 you will:

  • Receive a downloadable report with your estimated home rebuild cost
  • Have an estimate for your sum insured amount, which is useful in receiving a Building or Home and Contents Insurance quote

The Building calculator available through our websites are intended as a guide only.

 

Keep your insurance cover up to date

Most Home and Contents Insurance policies will renew annually – that means your insurer will send you an updated policy every 12 months. By paying the premium indicated on the renewal, you agree to renew the policy. Generally the amount covered will be increased by the insurer each year (often based on the rate of inflation).

Upon receiving your renewal, take it as an opportunity to make sure you’ve got the right level of cover, are adequately insured and adjust accordingly.

Things you should know

The information contained in this article is general information only and is not specific to any product.

It does not take into account your personal objectives, financial situation or needs and so you should consider its appropriateness, having regard to your personal objectives, financial situation and needs before acting on it.

Terms, conditions and exclusions apply to any insurance product. Please read the disclosure documents for your selected product or service, including the Terms and Conditions or Product Disclosure Statement, before deciding.

1 The Building and Contents calculators available through our websites are intended as a guide only. For a more accurate rebuilding cost, consider obtaining a professional valuation from a licensed builder or professional valuer.