Professional services
Home Insurance Calculator
Works home insurance cost, where the dwelling figure is rebuild cost rather than market value.
Result
An estimating tool, not insurance advice and not a quote. Underwriting sets real premiums on factors no calculator sees. What cover is appropriate is a question for a licensed broker. Dwelling cover is based on what it costs to rebuild, not what the house would sell for, and the two can differ substantially in either direction. Rebuild costs rise with construction inflation, so a policy not reviewed for several years is frequently underinsured. Flood and earthquake are excluded from standard policies and need separate cover.
Get a Free Business AuditHow the calculation works
Dwelling coverage at the rate for construction, location and protection, with contents, other structures and liability cover, and the deductible chosen, giving annual and monthly cost. The dwelling amount should reflect the cost to rebuild rather than the market value, and the two can differ substantially in either direction.
What moves the number
- Rebuild cost, which is not the market value or the purchase price.
- Location, construction and protective features.
- Deductible, including separate wind or hail deductibles.
- Contents and liability limits.
Where this one goes wrong
Rebuild cost and market value are different figures: market value includes land and location while rebuild cost reflects materials and labour, and construction cost inflation has moved rebuild figures sharply without any change to a property. A dwelling amount set years ago is frequently short. Separate percentage deductibles for wind, hail or earthquake are the other thing worth checking, since they can be far larger than the standard deductible and apply to exactly the claims most likely to occur.
Before you quote
- Set the dwelling amount from rebuild cost, not market value.
- Review it as construction costs change.
- Check for separate percentage deductibles on wind or hail.
Where the rules come from
Questions
About this calculator
Should I insure my home for what it is worth?
For what it would cost to rebuild, which is a different figure. Market value includes land and location while rebuild cost reflects materials and labour, and construction inflation has moved rebuild figures sharply without any change to the property.
What is a percentage deductible?
A deductible expressed as a share of the dwelling amount rather than a flat sum, commonly applied to wind, hail or earthquake claims. It can be far larger than the standard deductible and it applies to exactly the losses most likely to occur in those regions.
Does home insurance cover flood?
No, flood is excluded and has to be bought separately. Water damage from a burst pipe is usually covered while water entering from outside generally is not, and that distinction is where most disputed water claims originate.
The formula
dwelling cover = square feet x rebuild cost per square foot; premium = cover / 1000 x rate, less deductible credit
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How to use this calculator
- Home size (sq ft) (sq ft). Enter your own figure; the page starts at 2,200 sq ft.
- Rebuild cost per square foot ($). Enter your own figure; the page starts at $195.
- Contents as a share of dwelling (%). Enter your own figure; the page starts at 50%.
- Deductible ($). Enter your own figure; the page starts at $2,500.
- Rate per $1,000 of dwelling cover. Enter your own figure; the page starts at 3.8.
- Claims history loading (%). Enter your own figure; the page starts at 0%.
The result updates as you type, so you can try a figure, see what it does to estimated annual premium, and change it back. Nothing you enter is sent anywhere or saved.
A worked example
These are the figures the calculator opens with. Every number in the results column below is produced by the same calculation the page runs, so you can follow it through before putting your own figures in.
What goes in
| Input | Value |
|---|---|
| Home size (sq ft) | 2,200 sq ft |
| Rebuild cost per square foot | $195 |
| Contents as a share of dwelling | 50% |
| Deductible | $2,500 |
| Rate per $1,000 of dwelling cover | 3.8 |
| Claims history loading | 0% |
What comes out
| Result | Value |
|---|---|
| Estimated annual premium main result | $1,402 |
| Dwelling cover | $429,000 |
| Contents cover | $214,500 |
| Loss of use cover | $85,800 |
| Per month | $116.83 |
Dwelling cover of $429,000 based on rebuild cost, with $214,500 of contents. Premium roughly $1,402 a year, $116.83 a month.
How sensitive the answer is
Holding everything else steady and changing only rebuild cost per square foot, this is what happens to estimated annual premium. It is worth knowing which of your inputs the answer actually hinges on, and which barely move it.
| Rebuild cost per square foot ($) | Estimated annual premium |
|---|---|
| $98 | $704.58 |
| $146 | $1,050 |
| $195 example above | $1,402 |
| $293 | $2,107 |
| $390 | $2,804 |
Every other input is held at the example value while this one changes, which is not how a real job behaves. Treat it as a guide to which number matters most, not as five separate quotes.
What each figure means
- Home size (sq ft) (sq ft)
- Measured in sq ft, starting at 2,200 sq ft.
- Rebuild cost per square foot ($)
- A money amount, starting at $195.
- Contents as a share of dwelling (%)
- A percentage, starting at 50%.
- Deductible ($)
- A money amount, starting at $2,500.
- Rate per $1,000 of dwelling cover
- A number, between 0 and 30, starting at 3.8.
- Claims history loading (%)
- A percentage, between 0 and 200, starting at 0%.
What the results tell you
| Result | What it is |
|---|---|
| Estimated annual premium | The headline result. A money figure. |
| Dwelling cover | A money figure. |
| Contents cover | A money figure. |
| Loss of use cover | A money figure. |
| Per month | A money figure. |
Keep going
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