Your sum insured should be the estimated maximum amount it would cost to repair or rebuild your home if it was damaged or destroyed. It needs to include costs for things like fences, driveways, demolition, debris removal, compliance, professional fees and GST.
It's your responsibility to check your sum insured is up-to-date and reflects the costs of repairing or rebuilding your home. Please regularly review your cover, and especially at renewal and any time you make changes to your home.
The Cordell Sum Sure calculator is a simple, free way to get an estimated figure of the cost to rebuild your home based on construction costs, allowances for professional fees, demolition, removal of debris, special features and GST considerations.
Sum insured replacement
If your home is damaged or destroyed, we'll pay the costs to repair or rebuild your home up to your total sum insured, minus any applicable excess.
Replacement
If your home is damaged or destroyed by fire or an explosion, we'll pay the costs to repair or rebuild your home up to the same floor area - even if it ends up costing more than your home sum insured, minus any applicable excess.
To qualify for Replacement cover, you can check the Cordell Sum Sure calculator and choose a sum insured that's equal to or greater than the Cordell Sum Sure Estimate for your home. You can also give us a call if you'd like more information about Replacement cover or how to qualify.
Limits still apply to certain items. Please refer to your policy wording for the full details as well as exclusions and other terms.
Sum insured adjustment
We may adjust your sum insured at renewal to factor in changes in building and repair costs. However, you know your home best. The adjustment we make to your sum insured doesn't account for your unique situation, including any changes you've made to your home, or the accuracy of your chosen sum insured when your policy began.
Inflation
The Cordell Sum Sure calculator doesn't take into consideration future changes to building costs (i.e. inflation) over your policy period, so if you want to include an allowance for this in your sum insured, you'll need to add it to the estimate generated by the calculator.
Professional help
If you would like professional advice on an estimate to rebuild your home, you can consult with a registered property valuer or quantity surveyor.
The Cordell Sum Sure calculator is an independent tool. The information it provides is general information, is not a recommendation, opinion or guidance, does not provide any advice or opinion on the extent or adequacy of the cover provided by sum insured insurance, is not financial advice and does not take into account your particular situation.
This calculator has been customised for ASB, so it's important that you use the calculator provided by your insurer. The ASB Cordell Sum Sure calculator adds GST to the estimate it produces because your ASB sum insured is an amount which needs to include GST.
We may use the Cordell Sum Sure calculator to provide us with data about your property, for example the slope of land, roof and wall construction, and number of storeys in the home. It is your responsibility to tell us if you think the information is incorrect.
Find out how much it would cost to rebuild your home. Calculate now.
Get a quote for a new policy or update an existing policy online.
Accept the quote and we'll put your cover in place or confirm the changes to your policy.
If something changes that might affect your insurance, you can make change online.
The availability of insurance cover is subject to your application being approved. Terms, conditions and exclusions apply. For full details, refer to the policy wording. This insurance is underwritten by IAG New Zealand Limited (IAG). See further information regarding IAG's financial strength rating. The calculator is provided by Cordell, a CoreLogic business. Your use of the Cordell Sum Sure calculator is authorised on the condition that CoreLogic, ASB and IAG (and their related companies) do not warrant the accuracy, currency or completeness of the estimated reconstruction cost and do not have any liability of any kind for any loss or damage howsoever arising (including through negligence) in connection with your use of the Cordell Sum Sure calculator.
