Homeowners Insurance Calculator
Homeowners insurance should insure the cost to rebuild the home, not its market value. Add contents and liability cover, then apply a rate per thousand to estimate the annual premium.
Dwelling cover
$400,000.00
- Contents cover
- $200,000.00
- Total cover
- $900,000.00
- Estimated annual premium
- $2,100.00
Values update as you type. This calculator covers the single scenario its formula assumes — see Common Mistakes for what it leaves out.
The formula this calculator uses
Dwelling = square feet x rebuild cost per square foot; Premium = (dwelling + contents) / 1,000 x rate
- sqft
- Living area of the home
- cost
- Local rebuild cost per square foot
- contents
- Cover for belongings inside
- rate
- Annual premium per 1,000 of cover
How to check the result by hand
- 1
Measure the living area
Use the finished square footage the insurer would have to rebuild. Basements and garages may count differently, so check the insurer's definition.
- 2
Apply the local rebuild cost
Multiply the area by the cost per square foot for your region and quality of build. Custom and period homes cost more per foot than standard modern homes.
- 3
Add contents and liability
Set contents as a realistic value for what is inside, often around 50% of the dwelling, and choose a liability limit that protects your assets.
- 4
Estimate the premium
Add the dwelling and contents, divide by a thousand and multiply by the rate per thousand. The rate reflects local weather, theft and fire risk and the home's age.
- 5
Choose the deductible and check exclusions
Pick a deductible you could pay after a loss, confirm replacement-cost cover, and check that flood and earthquake, if relevant, are handled separately.
For worked examples, common mistakes and the limits of this formula, read the full How To Calculate Homeowners Insurance page.