The ins and outs of home sum insured

The cost to rebuild your home.

What do I need to know?


  • What is Sum Insured

    So what is a Sum Insured exactly?

    The Sum Insured is the maximum amount payable, after any applicable excess, to rebuild your home after a total loss (like if it burnt down). You should review your sum insured each year to check that it’s accurate. It needs to take into account rising building costs, inflation and any changes to your home to ensure you aren’t caught short.

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  • House Sum Insured

    The ins and outs of your Sum Insured

    It’s your job to ensure the Sum Insured on your home insurance is sufficient, so you don’t underinsure your home. But it can be tricky to understand. So, we’ve put together some information to help you. Read on to learn what the Sum Insured is – and why it’s so important to get right.

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  • Calculate your sum insured

    Check out Cordell Sum Sure

    The Cordell Sum Sure calculator can help you work out your Home Sum Insured based on the following: anticipated construction costs, allowances for professional fees, demolition, removal of debris and GST. Check it out.

    Calculate your Sum Insured


So what is a Sum Insured exactly?

Your Total Sum Insured = Your Home Sum Insured + the sum insured for any Special Features you buy cover for.

The amount it would cost to rebuild your home on its current site including Retaining Walls, Recreational Features and Special Features.
An amount you need to choose. You can use the Cordell Sum Sure calculator to help you, or you can get an insurance valuation.
The rateable value of your property provided by your council
The purchase price of your home
The market value
The land value
Automatically inclusive of Special Features (like jetties, bridges and cable cars) unless you add extra cover to your policy