Contents Insurance Calculator Australia

Use this calculator to get a starting estimate of the sum insured for your home contents insurance. Under-insuring is one of the most common mistakes Australian households make: if you insure for less than it would cost to replace everything, a claim may be scaled back under the policy's average or co-insurance terms. This tool gives you a realistic ballpark to work from before you get a quote.

What "contents" means

Contents insurance covers the things you would take with you if you moved: furniture, whitegoods, electronics, clothing, kitchenware, tools, and personal valuables like jewellery. It does not cover the building itself (that is home or building insurance), so the sum insured should reflect the replacement cost of your belongings, not the value of your house. Renters typically need contents cover only, while owner-occupiers usually hold a combined home-and-contents policy where the building and the contents are insured for separate amounts.

How the estimate works

The calculator uses a simple, transparent model:

• A base amount of general contents per bedroom, which scales with the size of your home.
• An amount of personal effects per adult, for clothing and personal items.
• Your electronics (TVs, computers, phones, gaming) added on top.
• Your high-value items (jewellery, watches, art, collectibles) added on top.

For example, a three-bedroom home with two adults, A$8,000 of electronics and A$5,000 of valuables comes to around A$89,000. This is a starting point; the most accurate way to set your sum insured is a room-by-room inventory.

Why under-insurance matters in Australia

Under-insurance is widespread, and it bites hardest at exactly the wrong moment. Many contents policies contain an "average" or co-insurance clause: if you insure for substantially less than the true replacement value, the insurer can reduce even a small, partial claim in proportion to how under-insured you were. So a household that insures for half of what its contents are really worth can find a A$10,000 claim paid at only a fraction. Rising replacement costs make this easy to fall into, since a figure set several years ago rarely keeps pace with the current price of replacing furniture, appliances and electronics brand new. After major events such as floods or bushfires, demand surge can push replacement costs higher still, which is another reason to build in headroom rather than insure to the bare minimum.

Room by room: building an inventory

The per-bedroom and per-adult averages give you a fast estimate, but a genuine inventory is what makes the figure defensible if you ever claim. Walk through each room and list the major items with a realistic cost to buy them new today: lounge and dining furniture, beds and wardrobes, the fridge, washer, dryer and dishwasher, televisions and computers, and the contents of the kitchen and garage. Do not forget the easily overlooked categories, including clothing and shoes across the whole household, linen and towels, tools and sporting gear, and outdoor furniture. Photographs or a short video of each room, kept somewhere off-site or in the cloud, make the list far easier to verify. Keep receipts for expensive purchases so replacement cost is not a matter of memory.

It is also worth understanding the difference between "new-for-old" and "indemnity" (or agreed-value) cover, because it changes the number you should insure for. New-for-old policies replace a lost or damaged item with an equivalent new one, so the sum insured should reflect current retail prices; indemnity policies pay the depreciated value, which is lower but so is the figure you insure. Most household contents policies in Australia are new-for-old, which is why this calculator works in replacement-cost terms. If any part of your cover is on an indemnity basis, adjust your inventory accordingly rather than assuming the two are interchangeable.

A worked example

Consider a family in a three-bedroom house: two adults, a well-equipped kitchen, three televisions, two laptops and a games console worth around A$8,000 in total, plus jewellery and a watch collection of about A$5,000. Starting from the per-bedroom base and per-adult personal effects, then adding the electronics and valuables, the model lands near A$89,000. If the same family later fits out a home office, buys new appliances, or receives jewellery as a gift, the figure should rise to match, which is why the estimate is a snapshot, not a set-and-forget number.

Getting it right

• Value items at replacement cost (what it costs to buy new today), not what you paid.
• List high-value items separately: many policies cap individual items unless specified, so a single expensive ring, camera or bike may not be fully covered under the general contents limit.
• Review the figure after big purchases and at each renewal, as replacement costs rise with inflation.
• Check whether you want portable contents cover for items you take out of the home, such as phones, laptops and jewellery, which is often an optional add-on.

Assumptions and limitations

The per-bedroom and per-adult figures are averages and will not match every household; treat the result as a guide, then refine it with an inventory. The tool estimates a sum insured only; it does not price a policy, and it does not account for accidental damage cover, portable-contents cover, high-value item specifications, or the excess you agree to pay on a claim. Premiums themselves depend on where you live, your claims history and the options you choose, none of which this calculator models. Always read the product disclosure statement and confirm the sum insured with your insurer before relying on it.

This is general information, not financial advice.

About This Contents Insurance Calculator

Use this contents insurance calculator to get an instant, accurate estimate. The figures follow official guidance and every rate and threshold is kept up to date for 2026. Adjust the inputs above to match your situation, or browse all our calculators to plan your next step.