Homeowners Insurance Calculator

Using a homeowners insurance calculator can help you get a ballpark figure of your home’s replacement cost which you can use when shopping for home insurance.

What Does It Do?

A homeowners insurance calculator is designed to give you a rough estimate of how much insurance you should purchase for your homeowners policy. You might find a calculator on your current insurance carrier’s website. Otherwise, just do an online search for the term “homeowners insurance calculator” or visit some well known insurance company websites to see if they have one.

These calculators are free and typically ask for minimal information like your zip code, your home’s square footage and sometimes the year it was built. Once you enter that information, the calculator returns either a range of replacement cost value for your home, like $200,000 – $250,000, or one number that represents an average replacement cost value.

When Should I Use A Homeowners Insurance Calculator?

Home and contents insurance calculators should be used when beginning the process of shopping for homeowners insurance. They provide you with a rough estimate of your home’s replacement cost value, which you can give to your insurance agent to get a general feel for policy pricing. You can use a home contents insurance calculator or a home building insurance calculator. But the most prevalent type you’ll find online is one that does both. Most companies that an independent insurance agent represents will use their own replacement cost estimator that takes more specific factors into consideration like construction type, distance to fire hydrants, presence of smoke detectors, and burglar alarms. Taking this detailed information into consideration gives them a more precise value of your home.

What Are The Limitations?

You should only use a homeowners insurance calculator to get an estimate of your home’s replacement cost, which you can use to get a ballpark insurance premium figure. In order to get a more accurate idea of true replacement cost, you should use the replacement cost value listed on your home’s most recent appraisal, if you’ve had one done in the last couple of years. If not, it’s a good idea to get an updated appraisal.

Online insurance calculators do not take into consideration your risk for flood insurance, which should be purchased separately. They also do not take valuable items like jewelry, furs or silverware into consideration, which should be scheduled on a separate personal articles floater attached to your homeowners policy. Finally, most calculators you find will not be a home insurance premium calculator that determines what rate you’ll pay. They will typically only calculate replacement cost value of your home and contents.


When you begin shopping for insurance, using a homeowners insurance calculator can provide you with a general idea of your home’s replacement cost, which you can pass along to your insurance agent. Just realize that this is only a rough estimate, and that you should use a recent home appraisal or rely on your insurance agent to help you calculate a more accurate value of your home’s replacement cost.
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