How can I calculate my building and contents sum insured?

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Last updated 13 January 2016

When applying for home insurance you’ll be asked to nominate a sum insured for your building and contents. These should be as accurate as possible because they’re the most we’ll pay in the event of a claim.

We’ve built a building insurance calculator and contents insurance calculator to help you estimate your sum insured.

Your building sum insured should equal the current total cost of rebuilding your home, including GST. It should also take into account any improvements you've made to your home, like garages, driveways and verandas. You should also include an amount for other costs associated with rebuilding, like demolition and debris removal, architectural, engineering, surveying and construction fees, as well as legal expenses. It’s also a good idea to find out whether local government or building regulations will affect your rebuilding costs.

Your contents sum insured should equal the current total cost of replacing all of your contents, including GST.

Special Items

Jewellery and watches

A maximum claim limit of up to 25% of your contents sum insured applies to jewellery and watches.

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