Home Insurance Cover Estimator
Estimate the right home-insurance sum-assured for your structure and contents.
Sizing Home Insurance Correctly
Most homes are underinsured because owners insure either the market value (which includes land) or the original purchase price (which ignores inflation). Both lead to bad outcomes at claim time: you receive less than what it costs to actually rebuild.
Structure vs contents — what each covers
- Structure cover insures the physical building — walls, roof, floors, fittings — at reconstruction cost. It is calculated as carpet area × construction cost per square foot, never market value.
- Contents cover insures everything movable inside — furniture, electronics, clothing, appliances, jewellery (within sub-limits).
- Combined (Structure + Contents) is typically the cheapest way to buy both and is recommended for owner-occupied homes.
Risk-zone matters more than people think
Flood, earthquake, and cyclone risk drive a large part of the premium. The same square footage can attract a premium 70% higher in a high-risk coastal or seismic zone than in a low-risk inland one. Some natural perils may even be excluded unless you specifically opt in via an endorsement.
Practical tips
- Re-value your structure every 3 years to keep up with construction-cost inflation.
- Photograph and inventory your contents — it makes claims faster and prevents disputes.
- Schedule high-value items (jewellery, art, electronics) individually if they exceed the policy's sub-limit.
Frequently Asked Questions
Always insure the reconstruction cost — carpet area × construction cost per sqft. Market value includes land, which cannot be destroyed and does not need to be insured.
Contents insurance covers movable items — furniture, electronics, appliances, clothing, jewellery (with sub-limits) — against fire, theft, burglary, and certain natural events.
Insurers maintain flood, earthquake, and cyclone risk maps. Properties in high-risk zones can pay 30-100% more than identical properties in low-risk zones.
Most insurers sell a combined package at a slight discount. Renters only need contents cover; landlords typically only need structure cover.
Usually no. Most policies cap unscheduled jewellery at 10-25% of contents sum-assured. Higher-value items must be declared individually with valuation certificates.