Tools & FAQs

Work out the sum insured for your house

It's your responsibility as a homeowner to provide a sum insured amount for your house insurance. This figure needs to be sufficient to cover the total replacement costs for your particular home - otherwise there is a risk you'll be underinsured.

There are some simple things you can do to work out your sum insured amount, such as using an online calculator or engaging a professional.

House insurance calculator

(If your ANZ Insurance is underwritten by TOWER please use this calculator).

Engage a professional


Depending on your circumstances, it may be appropriate to use the services of a qualified professional to help work out your sum insured. They would need to provide an insurance valuation for rebuild purposes rather than a market valuation.

Quantity Surveyor

Quantity Surveyors are used to estimate the full cost of a building project. They consider what needs to be done to get the section ready to be built on as well as the materials and the labour required to build the house.

A Quantity Surveyor can be engaged to provide you with an insurance valuation for rebuild purposes for your property. They will visit your home and provide you with a comprehensive report and reinstatement estimate based on their knowledge of market rates and costs as they apply to your home.

> Find a Registered Quantity Surveyor near you


Valuers are commonly used in the financial services industry, primarily to provide market valuations for mortgages. Some are also trained to provide insurance valuations for rebuild purposes, but may not have the level of qualification or experience as a quantity surveyor.

The Property Institute website provides more information on the use of a valuer to determine your sum insured.

> Find a valuer near you

Updating your sum insured

Remember, once you have your new sum insured, please contact your insurer to update it.


Important Information: The services described above are supplied by independent parties and are subject to their own terms and conditions. ANZ does not warrant the quality of the services described, or their suitability for your particular circumstances. To the extent permitted by law, ANZ excludes liability for any loss suffered as a result of the use of those services. All content of this website is for information only and is of a general nature. It does not take into account your personal circumstances, needs or goals, is not a recommendation or opinion as to the most appropriate method for calculating your own sum insured, and is not a substitute for commercial judgement or professional advice relevant to your own particular circumstances.

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