Tools to help you work out how much home insurance you need
When buying home insurance, it’s up to you to determine how much it would cost to replace your home and contents if they were totally destroyed, for example, by fire.
These are called the ‘sums insured’ and are the maximum amounts we’ll pay. So it’s important you’re comfortable the sums you nominate are enough to replace the home and contents you wish to insure, at today’s prices.
Calculating these replacement costs is complex. To help make it easier, we’ve made available some calculators from leading insurance analytics firm Finity and leading estimator Sum Insured.
(For a more accurate rebuilding cost estimate, we recommend you consult a professional valuer or building contractor.)
Choose a calculator
Inflation protection
At the end of each insurance period, we’ll automatically increase your home and contents sums insured, to reflect rises in costs. Your premium will be adjusted accordingly.
We encourage you to regularly review your sums insured, which you can change at any time (subject to our acceptance).
Shortfall cover
For greater peace of mind, you can add optional Sum Insured Safeguard cover to your home insurance policy.
If your nominated sum insured is not enough to repair or replace your home, we'll increase it by up to 25% (e.g. from $400,000 to $500,000).
Debris removal and extra building costs
We’ll cover not only the replacement value of your home, but also the cost of debris removal; demolition; and professional (e.g. architect, surveyor, engineer) and building-application fees (Home Insurance); and disposal of your damaged contents and storage of your undamaged ones (Contents Insurance).
We’ll pay up to 10% of your sum insured for these costs — in addition to your total sum insured.
Terms, conditions, limits and exclusions apply.
For full details, please read the Product Disclosure Statement.
Choose your cover
You can get home or contents cover separately, or combine them.
Home and Contents Insurance
Protect your most valuable asset and your belongings by combining home and contents insurance.
Read more
Home Insurance
Covers loss or damage to your home due to events like storms, fire, and escape of liquid, including the cost of repairs or rebuilding and temporary accommodation.
Read more
Contents Insurance
Covers loss or damage to your home contents due to events like storms, fire, and theft, including new-for-old replacement of items that can’t be repaired.
Read more
Find out more
The information on this page is a summary only. For more details about Budget Direct home and contents insurance, including the terms, conditions, limits and exclusions that apply, please read the Product Disclosure Statement (PDS)
How to make a claim
If your home and/or contents are lost, damaged or destroyed by an insured event and you need to claim, we’re here to help. Make a claim on your home and/or contents policy.
Award-Winning Australian home insurance
After comparing the cost and features of 67 products offered by 49 providers, Canstar presented us with the National award for Outstanding Value Home & Contents Insurance for the eighth year in a row in 2024.
We’ve also won Money magazine’s Insurer of the Year title nine years running (2017–2025); Money magazine's Best of the Best title for Home & Contents Insurance (2022-2025); and WeMoney's Best for Value Home & Contents Insurance award for 2025.
Frequently asked questions
Will my home insurance cover keep up with rising costs?
At the end of each insurance period, we’ll automatically increase the amount your home and/or contents are insured for — to help keep pace with rising costs.
When you receive your annual insurance renewal offer, you’ll notice your premium has been adjusted to reflect the higher sum insured.
If you wish, you can decline the higher sum insured by contacting us or logging into your online account and editing your policy.
For example, if your house was insured for $500K and we increased it to $550K but you declined the increase, your sum insured would remain unchanged at $500K.
Regardless, we encourage you to regularly review your sum insured, which you can change at any time (subject to our acceptance of the new sum insured) by contacting us or logging into your online account and editing your policy.
Note that we will not automatically increase the sums insured for your listed, or specified, contents and personal effects.
We recommend you get jewellery, collections, art works and the like valued every so often by a suitably qualified professional to ensure they’re adequately covered.
What if the amount I insure my house for is too low?
It’s important the home-building sum insured you nominate is sufficient to rebuild your home at today’s prices.
You can increase your sum insured at any time by calling us on 1800 182 310 or logging into your online account and editing your policy.
For extra peace of mind, you can add optional Sum Insured Safeguard cover to your home-building insurance policy.
If you select this cover, we’ll increase your home-building sum insured by up to 25% if your nominated sum insured is not sufficient to repair or replace your badly damaged or destroyed home (e.g. from $400,000 to $500,000).
Do I need to list, or specify, contents on my policy?
It’s up to you to decide whether to list the following on your policy:
- contents you want to insure for more than our benefit limit (where applicable)
- portable items you want covered when you take them with you away from your home.
You can list your contents when you get a quote and buy a policy or — if you’ve already bought one — by calling us on 1800 182 310 or logging into your online account and editing your policy.
Useful links
*The estimating tool is provided by Finity Consulting Pty Limited (Finity) and should be used as a guide only and does not take into account your personal objectives, financial situation or needs. The accuracy of the estimate is not guaranteed because it depends on the accuracy of information you input, information from third parties we cannot verify, and property features and conditions that the calculator will not consider. Before deciding to purchase our insurance product we recommend that you seek expert advice to determine an adequate sum insured for your property (as the calculator contains general information and may not suit your particular circumstances) and read the Product Disclosure Statement available from us.
Neither Auto & General Services Pty Ltd or Finity take any responsibility for the estimate provided by Finity and will not be liable for the accuracy of that estimate and for any loss that you may suffer in connection with your use of the estimating tool. Information provided by you when using the calculator will be made available to Finity and will be dealt with in accordance with their Privacy Policy. Further information about your rights in relation to the estimating tool are set out in the Terms of Use available when you access the tool.
^^Typical contents replacement costs are provided by Sum Insured Pty Ltd, trading as Home Contents (ACN 099 322 308) ('Sum Insured'). Whilst every care is taken to ensure the accuracy of the information as a guide for costing, no responsibility is accepted by Sum Insured for its accuracy. Please check with an architect, builder, quantity surveyor, valuer or other suitably qualified professional for an accurate home replacement cost estimate. Auto & General Services Pty Ltd takes no responsibility for the costs provided by Sum Insured nor any liability for the accuracy of, reliance upon or use of the costs. Before deciding to purchase any insurance product you should calculate the actual replacement cost of your home and/or contents (as the calculators contain general information only and may not suit your particular circumstances) and read the relevant Product Disclosure Statement available from us.
