What do I need to do?

I'm an existing customer...

Renewing your policy? It’s a good time to check your sum insured figure each year when your policy comes up for renewal, to make sure it’s up-to-date and will still sufficiently cover the rebuild of your home. While your policy will include an adjustment for inflation, it won’t include any changes, additions or omissions to your property.

You will need to:

  1. Calculate your sum insured

  2. Contact us and let us know the new value

I'm switching insurers...

Have you calculated your sum insured figure already? If yes, then check it’s correct, and your new policy covers everything in the same way as your previous policy, as cover can differ between insurance companies. Once you’re happy with the figure, use it to get a quote.

Next steps:

  1. Read our sum insured FAQs

  2. Calculate your sum insured

  3. Use the result to get a quote

I'm a first time buyer...

It’s important you don’t rely on market value or your purchase price to determine your sum insured. In most cases the rebuild cost will differ from both of these values, as they take into consideration different elements (e.g. land).

You will need to:

  1. Calculate your sum insured

  2. Use the result to get a quote

Sum insured calculations

Every home is different and the rebuild cost will vary depending on a number of things, so it’s important you take the time to calculate a figure that is right for you.

As a homeowner, you are in the best position to know the details of your own home – so it makes good sense for you to determine your own rebuild cost. When calculating this cost, it’s important to take into account other items on your property, not just your house (for instance driveways, paving, fences, external garages and retaining walls). See ‘Things to consider’ for more information.

Some ways to help you calculate your sum insured include:

Use the online calculator

The Cordell Sum Sure Calculator provides estimated typical building replacement costs for standard residential homes. It's important to note that this calculator may not be suitable for homes with special features.

Contact an expert

A builder, architect, quantity surveyor or other valuation expert can provide an estimated rebuild cost for your property. Use the links below to find an expert near you:

Things to Consider

Below is a list of some of the things you need to consider when calculating your rebuild cost. Please note this is not a complete list, just a few suggestions to get you started. Some policy limits apply.


Higher quality homes are more expensive to build. So consider:

View house expenses

  • Construction materials

  • Foundations

  • Size of house

  • Number of levels

  • Age of house

  • Standard of build


Consider the quality of fittings inside your home. Include:

View interior fittings

  • Flooring

  • Insulation

  • Windows

  • Heating


You need to include the cost to replace:

View outbuilding costs

  • Garages

  • Carports

  • Sheds

  • Pool houses

Demolition and Site Clearance

It's important you include:

View demolition and site expenses

  • Demolition and removal costs of your current property

  • Site clearance and preparation costs

  • If you are using the Cordell Sum Sure Calculator, these costs are automatically included

Gardens & Surrounds

It's important you include:

View outdoor features

  • Driveways

  • Paving

  • Fencing

  • Pools

  • Retaining walls

  • Tennis court

  • Water tanks

  • Septic tanks

  • Decks 

Frequently asked questions

For full details of what to include in your sum insured, please refer to our Home Insurance policy or for further information please see our FAQs below.


This is general information and is not a recommendation, opinion or guidance on the sum insured that is appropriate for any of our customers.  Nor does this information provide any advice or opinion on the extent or adequacy of the cover provided by sum insured insurance. This information is not personalised financial advice and does not take into account the particular situation of our customers. Customers must make their own decision on the sum insured that is appropriate for their circumstances.