Homeowners Insurance Calculator
This estimator provides two complementary calculations: a recommended dwelling and contents coverage based on replacement-cost heuristics, and an illustrative premium estimate using common underwriting factors. It is intended to help homeowners understand order-of-magnitude coverage and cost, not to replace a formal insurer quote.
Inputs include home size, year built, per-square-foot replacement cost, deductible, claims history, and location protections. Results are indicative and should be validated with an insurer or licensed agent for binding coverage.
Estimate the replacement cost of dwelling and a recommended personal property (contents) amount based on home size, built year, and per-square-foot replacement cost.
Inputs
Results
Recommended dwelling coverage (replacement cost)
$326,250.00
Recommended personal property coverage
$163,125.00
| Output | Value | Unit |
|---|---|---|
| Recommended dwelling coverage (replacement cost) | $326,250.00 | USD |
| Recommended personal property coverage | $163,125.00 | USD |
Visualization
Methodology
Replacement cost is estimated as square feet multiplied by a per-square-foot replacement cost, adjusted modestly for building age. Personal property (contents) is estimated as a percentage of dwelling replacement cost.
Premium estimate is illustrative and multiplies replacement-cost exposure by a base rate per $1,000 of coverage, then applies multipliers for location risk, prior claims, deductible level, and protective devices.
This tool follows recognised best-practice principles for model documentation, data handling, and risk communication. For data-handling and security guidance we reference NIST standards; for risk-management principles we reference ISO guidance; for data quality and engineering best practice we reference IEEE recommendations; for building-safety context we reference OSHA and applicable local building codes.
Worked examples
Example: 2,000 sq ft home, $150/sq ft, 1990 built, 50% contents, $1,000 deductible, moderate risk. Replacement cost ≈ $345,000; contents ≈ $172,500; illustrative annual premium depends on selected base rate and multipliers.
Example: Increasing deductible typically reduces premium in the model; adding monitored protective systems reduces the premium multiplier.
Key takeaways
Use the replacement-cost outputs to set dwelling and contents coverage limits that avoid underinsurance.
Use the premium estimate to compare how coverage choices, deductible, and mitigation measures affect approximate cost. Always obtain formal quotes for final pricing.
Further resources
Expert Q&A
Is this an insurance quote?
No. This tool provides an estimate for planning purposes only. Final premiums depend on insurer underwriting, formal inspections, exact address, and full application data.
Why does the tool ask for replacement cost per square foot?
Local construction costs, materials, and labor drive replacement cost per square foot. If you do not know it, use a local contractor estimate or consult local building cost guides.
How accurate are the premium estimates?
Estimates use simple actuarial heuristics and high-level multipliers. They are not guaranteed. Accuracy varies by input quality and local regulatory rating factors. Use the results as directional guidance.
How should I use the coverage recommendations?
Set dwelling coverage to at least the recommended replacement cost to avoid being underinsured. Consider additional endorsements for flood, earthquake, or valuable items where standard coverage limits may not suffice.
Sources & citations
- NIST (security & data standards) — https://www.nist.gov
- ISO (risk management & standards) — https://www.iso.org
- IEEE (data quality & engineering guidance) — https://www.ieee.org
- OSHA (building safety context) — https://www.osha.gov
- FEMA (flood maps & hazard info) — https://www.fema.gov