Home Value

Your home. Gone today and here tomorrow.

To work the correct figure for which your home should be insured, you must realise that you’re actually insuring it for the cost of rebuilding it.

This can have very little to do with the amount you paid for the home in the first place, or its current market value. However, by working out its replacement value, you can insure your home for total rebuilding at today’s prices. This means that when the rebuilding is finished your home will be just like new. All we ask is that you insure for the realistic replacement cost. But remember, the amount you insure for is, naturally, the maximum we can pay.

Here are some guidelines to help you work out a realistic figure:

Building Cost Calculator*

Building Replacement Costs with concrete floor:GST included
NB add extra for professional fees, demolition, temporary accommodation & landscaping.

*Typical replacement building costs per square meter (m2) are provided by Reed Business Information Pty Ltd ABN 47 000 146 921("Reed"), as at March 2004. Whilst every care is taken to ensure the accuracy of the information as a guide for costing, no responsibility is accepted by Reed for its accuracy. Please check your local architect or builder for an accurate estimate. Neither CGU Insurance Limited or Queenslanders Credit Uniontakes responsibility for the building costs provided by Reed

How to calculate the replacement value of your home

First of all you’ll need to estimate the area your home covers. This is usually done in squares: One square equals 100 square feet, or 9.29 square metres. As a guide, a two-bedroom home covers about 12 squares, a three-bedroom home covers about 16 squares, and a four-bedroom home about 20 squares.

Please enter all amounts in Australian Dollars, excluding the $ symbol and rounded off to the nearest dollar.

Now fill in the following details:

This is general advice only and does not take into account your individual objectives, financial situation or needs (‘your personal circumstances’). Before using this advice to decided whether to purchase this insurance policy, you should consider the appropriateness of it having regards to your personal circumstances, plus obtain the current Product Disclosure Statement (PDS) for the insurance policy

Queenslanders Credit Union Limited ABN 85 087 651 063 acts under its own Australian Financial Services Licence and pursuant to an agreement with the insurers, CGU Insurance Limited ABN 27 004 478 371. An IAG Company.

Home & Contents Insurances are issued by CGU Insurance Limited. You can get the PDS for these products from any branch of Queenslanders Credit Union or CGU Insurance Limited. You should consider the relevant PDS in deciding whether to by or hold the product.