Home Insurance Coverage Calculator

Homeowners insurance (also called home insurance) is a type of property insurance that covers losses and damages to your home and assets within it. It also provides liability coverage if someone is injured on your property. A standard HO-3 policy — the most common type — covers your dwelling against all perils except those specifically excluded, covers personal property against named perils, and includes personal liability and medical payments to others coverage.

The most important number in any homeowners policy is the dwelling coverage amount, which should equal the cost to fully rebuild your home from the ground up — not the market value or the price you paid. Dwelling coverage is based on local construction costs, your home's square footage, architectural style, and build quality. In high-cost regions like coastal California or the Pacific Northwest, rebuild costs can exceed $400 per square foot, making dwelling coverage dramatically higher than in lower-cost markets.

The deductible versus premium tradeoff is central to structuring your homeowners policy. A lower deductible — say $1,000 — means a higher annual premium but less out-of-pocket expense when you file a claim. A higher deductible — $2,500 or $5,000 — meaningfully reduces your annual premium but requires more cash on hand when a covered loss occurs. Many financial planners recommend matching your deductible to your liquid emergency fund, and only filing claims for large losses to avoid premium increases from frequent small claims.

1. Enter your home's square footage — the above-ground living area typically shown on your property tax records.
2. Select your region to set the local cost-per-square-foot rebuild estimate ranging from rural Midwest to premium coastal markets.
3. Select your build quality (standard, above average, or custom/luxury) which applies a multiplier to the rebuild cost.
4. Choose the contents coverage percentage (typically 50–70% of dwelling coverage) to cover furniture, electronics, clothing, and appliances.
5. Select your desired liability coverage level and deductible amount.
6. Review the estimated dwelling coverage, contents coverage, total recommended coverage, and estimated annual and monthly premium.

• Insure for rebuild cost, not market value: Market value includes your land, which cannot be destroyed. Insuring your home for its market value rather than rebuild cost often results in over-insurance. Ask your insurer to help determine the correct replacement cost value for your dwelling.
• Consider guaranteed replacement cost coverage: Standard replacement cost coverage rebuilds your home up to your policy limit. Guaranteed replacement cost coverage pays to fully rebuild regardless of limit, protecting against cost overruns from inflation or material shortages after a disaster — available from select insurers.
• Add scheduled riders for high-value items: Standard homeowners policies have sub-limits on jewelry, art, firearms, and collectibles. Schedule valuable items separately to ensure adequate coverage without having to prove pre-loss value after a claim.
• Purchase flood and earthquake coverage separately: Standard homeowners policies do not cover flood or earthquake damage. FEMA's National Flood Insurance Program (NFIP) provides flood coverage, and separate earthquake policies are available in high-risk states. Evaluate your risk and consider these add-ons.
• Review your coverage annually: As your home appreciates and renovation costs rise, your dwelling coverage limit may become inadequate. Review your policy limit each year against current local construction costs.
• Shop and compare every few years: Homeowners insurance rates vary significantly between insurers. Comparing quotes every 2–3 years can reveal substantial savings without reducing coverage.