How Much Home Insurance Coverage Do I Need? Free Worksheet

Being underinsured is one of the most painful surprises after a fire or other total loss. This worksheet helps you compare each part of your homeowners policy with your own figures: what it would cost to rebuild, to replace your belongings, and to live elsewhere while you rebuild. It doesn't contain any built-in construction cost data, and nothing you type leaves your browser.

Before you start: gather your figures

Your declarations page for your current limits. See how to read a declarations page.
A rebuild cost per square foot from a local licensed contractor, an appraiser, or your insurer's replacement cost estimate. The California Department of Insurance says the dwelling limit should reflect the cost of labor and materials to rebuild, not market value, and that you're entitled to a copy of any replacement cost estimate your insurer or agent gives you. For a rough California planning range, you can also try our rebuild cost estimator.
Your home inventory for personal property. Use our home inventory template.
Local rent for a comparable temporary home.

The worksheet

1. Cost to rebuild the house (Coverage A) Living area (sq ft) Rebuild cost per sq ft ($), from a local licensed contractor, appraiser or your insurer's estimate Attached garage, decks, porches and special features not in the per-sq-ft figure ($) Debris removal and demolition estimate ($) Building code upgrade allowance (% of rebuild cost) Cost-increase buffer for inflation or post-disaster demand (%) Your current dwelling limit, Coverage A ($) Extended replacement cost on your policy (%, 0 if none)

2. Other structures (Coverage B) Cost to rebuild detached garage, fences, sheds, walls and similar ($) Your current Coverage B limit ($)

3. Personal property (Coverage C) Replacement cost of your belongings, from your home inventory ($) Your current Coverage C limit ($)

4. Additional living expenses (Coverage D) Monthly cost of comparable temporary housing plus extra costs ($) Months you expect a rebuild could take Your current Coverage D limit ($), or leave blank if it's time-based

Enter your own figures above. Results appear here.

How to read your results

Dwelling (A): the NAIC consumer guide says coverage should equal the full replacement cost of your home, and that many insurers may reduce claim payments if the limit drops below 80% of replacement cost. New York's regulator explains the same point in its guide How much insurance do you need?
Code upgrades and debris removal: the CDI notes that after past wildfires, code upgrades and debris removal added significant costs, and some policies don't include building code upgrade coverage. See our guide to ordinance or law coverage.
Cost increases: the CDI's tips for wildfire claimants point out that insurer estimates may not reflect local conditions or demand surge after a disaster. Ask about extended or guaranteed replacement cost.
Other structures, contents and living expenses are often set as a percentage of the dwelling limit, so a low dwelling limit can make them too low as well.

If the worksheet shows a possible shortfall, ask your agent or broker to review your limits. If your insurer won't raise a limit after you document the need, California consumers can contact the CDI consumer hotline at (800) 927-4357.

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FAQ

How much dwelling coverage do I need?

Enough to rebuild your home at today's construction costs. That isn't the same as market value or purchase price, because it doesn't include land. The California Department of Insurance and the NAIC both recommend basing it on the cost to rebuild.

Where do I get a cost per square foot?

From a local licensed contractor, an independent appraiser, or your insurer's replacement cost estimate. In California, if an insurer or agent gives you a replacement cost estimate, you're entitled to a copy. This worksheet doesn't supply cost data.

What is the 80% rule?

Many homeowners policies may reduce claim payments if your dwelling limit is below 80% of the home's replacement cost. Check your policy's loss settlement terms.

Why include code upgrades and debris removal?

After a major loss, local building codes may require upgrades, and debris removal can be costly. Many policies cover these only up to set amounts. Ask about ordinance or law coverage.

Can I embed this worksheet?

Yes. It's free to embed with attribution. Use the embed code on this page and keep the credit link.

Want a second opinion on your limits? Contact Alishahi Insurance or call (877) 711-4545.

General information only. This worksheet isn't an appraisal, a replacement cost estimate or a guarantee of coverage. Alishahi Insurance · 439 N Canon Dr, Penthouse, Beverly Hills, CA 90210 · CA License #4348151

How Much Home Insurance Coverage Do I Need?