Home Insurance Cover Calculator

Calculate the right home insurance cover for your property. Includes structure reconstruction cost, contents value, and estimated premium for comprehensive home cover.

Home Insurance Calculator

Structure reconstruction cost, contents value, and estimated annual premium

Carpet area 1,000 sqft
200 sqft10,000 sqft
sqft
Construction rate per sqft Rs 2,000/sqft
Rs 1,000Rs 4,000
Rs/sqft
Contents value Rs 5L

Furniture, electronics, appliances, jewellery — total replacement value

Rs 50KRs 50L
Rs
Building age 5 years
New30 yr
yrs
City tier
Total sum insured
---
structure + contents
Annual premium
---
incl. 18% GST
Monthly cost
---
per month
Structure sum insured (replacement)---
After depreciation---
Contents sum insured---
Total SI---
Base premium---
GST 18%---
Total annual premium---
Structure vs contents insured value
Structure SI: ---
Contents SI: ---

Insure at reconstruction cost — not market value. Land value cannot be destroyed. Actual premiums vary by insurer, location risk, and add-ons.

Structure SI vs premium at different construction rates
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ThriftRupee Insight

Home insurance is wildly underused in India — less than 3% of homes are insured. A Rs 1 crore flat can be insured for structure + contents for just Rs 3,000–5,000/year. The reconstruction cost (not market value) is what matters for structure cover — a Rs 80 lakh flat in Bengaluru may have a reconstruction cost of Rs 45–50 lakh (building cost × area), not the land value.

Home Insurance — Structure and Contents Cover Explained

Home insurance in India covers two components: the structure (building, walls, roof) against fire, flood, earthquake, storm, and other perils; and contents (furniture, electronics, appliances, jewellery) against theft, fire, and flood. The key principle: insure the structure at its reconstruction cost, not its market value, since land value cannot be destroyed. For a Rs 1 crore flat, the reconstruction cost is typically Rs 40–60 lakh depending on area and construction quality.

Frequently asked questions

What does home insurance cover in India?▼
Home insurance covers: (1) Structure — damage to the building from fire, flood, earthquake, landslide, lightning, explosion, storm. (2) Contents — furniture, electronics, valuables, appliances from theft, fire, flood. (3) Liability — third-party injury or damage in your home. Some plans include temporary accommodation if your home becomes uninhabitable.
How is home insurance sum insured calculated?▼
Structure sum insured = Carpet area × construction rate per sq ft (typically Rs 1,500–2,500 in metros for RCC construction). Do not insure at market value — land cannot be destroyed. Contents sum insured = total replacement value of furniture, electronics, jewellery, appliances.
Is home insurance mandatory in India?▼
Home insurance is not legally mandatory, but most home loan lenders require a fire insurance policy (minimum structure cover equal to loan amount). Beyond the loan requirement, comprehensive home insurance is strongly recommended but optional. Premiums are very affordable relative to the cover provided.

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