Please use this guide, to calculate your sum insured
Your sum insured consists of the cost of rebuilding your home plus paths, heaters, pools, etc. The steps set out below will help you calculate your sum insured.
Measure the size of your house in square metres.
The cost of rebuilding your home can be calculated by using the following: (Important - do not include the land value in your estimate.)
State
Double Brick
Brick Veneer
Timber/Fibro
NEW SOUTH WALES
$1,400 per sq m*
$1,350 per sq m*
$1,300 per sq m*
QUEENSLAND
$1,250 per sq m*
$1,150 per sq m*
$1,050 per sq m*
SOUTH AUSTRALIA
$1,050 per sq m*
$1,000 per sq m*
$950 per sq m*
TASMANIA
$1,300 per sq m*
$1,250 per sq m*
$1,100 per sq m*
VICTORIA
$1,500 per sq m*
$1,400 per sq m*
$1,250 per sq m*
WESTERN AUSTRALIA
$1,500 per sq m*
$1,100 per sq m*
$1,000 per sq m*
*The rebuilding costs above are provided as a guide only. We recommend that you contact a qualified builder to provide expert advice.
Multiply size from Step 1 by cost from Step 2.
X
=
Total square metres
Multiplied by cost per square metre
Equals building cost for house
Add up all of the following to arrive at the full sum for your building:
building cost of house
fixtures and fittings (e.g., built-in wardrobes, lights, fans)
wall coverings
floor tiles or coverings
(but not carpets - they are insured as contents)
built-in heaters and air conditioners
garage
carport
garden or other sheds
verandah/patio/pergola
driveway
paths
fences
clothes line and other external structures
inground pool
Subtotal
Add 10% to allow for the cost of removing debris,
architects and surveyors fees
which will be payable for rebuilding
