House Sum Insured Calculator
Rebuild cost estimate for a NZ home insurance policy.
NZ$
NZ$
NZ$
Often 8–12% of build cost.
Suggested sum insured
$711,200.00
At $3,100.00 per m² rebuild rate
| House rebuild | $558,000.00 |
|---|---|
| Garage rebuild | $68,200.00 |
| Other costs | $85,000.00 |
| Sum insured | $711,200.00 |
About this calculator
NZ house insurance moved to sum-insured (rebuild) policies in 2013. You pick a dollar figure — if your house is destroyed, the insurer pays up to that amount to rebuild. Set it too low and you under-insure; set it too high and you over-pay premium.
- Use floor area × current rebuild rate per m² for your build quality.
- Add demolition, council fees, professional fees, landscaping and driveways — these alone can be 10–15% of the house cost.
- Garage rebuilds at roughly 55% of the house rate per m².
- Check the figure every 2–3 years against current build cost inflation.
Frequently asked questions
Can I just use the council rateable value (RV)?
No — the RV is a market value, not a rebuild cost. Rebuild cost is usually well below RV in established suburbs because the land is most of the value.
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Calculator NZ provides general information only. For decisions with significant financial, medical or legal consequence please consult a qualified professional.