Insurance calculators for Geelong and Werribee
How much insurance cover is enough?
One of the most difficult decisions when purchasing home insurance is how much to insure your building and contents for. Roderick Insurance Brokers in Geelong and Werribee understand everyone’s home and contents are different, and provide this guide to help you calculate the insured sum that you need to best protect your interests.
When estimating your sums insured you should be considering how much it would cost to replace the items now at current prices, not necessarily what you paid for them.
Remember that while you do not want to over insure, as that will result in you paying for cover that you do not need, you definitely do not want to under insure as you can be left with a financial loss in the event of a claim.
If you are unsure of the replacement cost of an item, it is probably safer to estimate slightly on the higher side. Please contact our Geelong insurance brokers for more information.
The Insurance Council of Australia provides the following online calculators :
Home Buildings Insurance CalculatorHome Contents Insurance Calculator
Alternatively, you can download a manual PDF version to use later:
Get the advice of a professional
When it comes to assessing the value of your building and contents, there is no substitute for expert advice. A professional valuer, builder or architect knows the current costs of labour and materials, and will be able to help you estimate how much it could cost to rebuild your home. If you don’t know any architects, or builders, your local Housing Industry Association (HIA) office will be able to put you in contact with one.
A professional valuer may also be a good idea for your content items, particularly if you have antiques, paintings or unusual items that might be difficult to put an accurate value on. Roderick Insurance Brokers can suggest a professional valuer or you can find one in the yellow pages.
Please note: this guide is provided as general advice only and does not take into account your individual circumstances. Please contact us if you wish to obtain personal advice as to which policy may best suit your needs. Before purchasing any insurance policy you must consider whether it is appropriate for your needs and obtain a current Policy Disclosure Statement. Where the policy is sold via our office you should also read our Financial Services Guide.