When it comes to insuring your home, it’s not about how much you paid for it - it’s about how much it would cost to rebuild it from scratch, at today’s prices, if something major happened, like a fire or storm.
That includes materials, labour, and all the bits and pieces needed to get your home back to the way it was. Making sure you're covered for the full rebuild cost means you may incur less out of pocket expenses if the unexpected happens.
How do I work out the right amount?
Qantas Home Insurance has a handy Home and Contents Insurance Calculator to help you estimate how much cover you might need. It looks at things like:
Building materials - The type of materials used in your home (brick, timber, etc.) affect the cost to rebuild.
Your home’s features - Think number of bedrooms, bathrooms, special fixtures, or custom finishes.
Your location - Where your home is can influence labour and material costs too.
What else should I think about?
Here are a few key things to keep in mind when insuring your home:
Rebuild cost ≠ Market value Focus on the cost to rebuild your home, not what it's worth on the market. Your insurance doesn’t cover land value - just the building.
Adjust for inflation Look for a policy that includes inflation protection, so your sum insured keeps up with rising construction costs.
Extra cover, if needed Depending on where you live, you might want to add optional protection like flood cover or accidental damage for more peace of mind.
How often should I check my cover?
It's a good idea to review your cover regularly - especially if you’ve renovated, extended your home, or if building costs have gone up in your area. The Qantas Home Insurance Calculator is a great place to start, and can help make sure your insurance still matches your home’s needs. Need a little help deciding? Give us a call on 13 49 60 Monday to Friday, 9am-7pm AET and speak to one of our insurance specialists. They’ll be happy to help you choose the best cover for your needs and budget.
Find out more about Qantas Home Insurance.
Disclaimer: Qantas Home and Contents Insurance is issued by Auto & General Insurance Company Limited ACN 111 586 353, and is arranged by Qantas Airways Limited (Qantas), Authorised Representative (AR No 261363) of Auto & General Services Pty Ltd AFSL 241411, from whom Qantas receives a commission.
The information on this website is general advice only and does not take into account your individual needs, objectives or financial situation. Before you decide to buy or to continue to hold an insurance product, you should read the relevant Key Fact Sheets (KFS), Product Disclosure Statement (PDS), Target Market Determination (TMD) and Financial Services Guide (FSG). Underwriting criteria applies. Any discounts on both new and renewing policies only apply to the extent that any minimum premium isn't reached. Home and Contents Insurance is not available in NT, North QLD or Northern WA.
