If your home gets damaged or destroyed by any insured event other than a natural disaster, with SumExtra you’re covered for the costs to repair or replace your home—even if the cost is more than your Sum Insured amount.
SumExtra is available if your home is insured with us for its replacement value. To qualify, you need to work out the estimated cost of rebuilding your home using calculation methods we accept, like the Cordell Calculator or the advice of a registered valuer. Then contact your broker or adviser to set your Sum Insured amount to at least the value of the replacement estimate. Make sure you keep a copy of the written cost estimate in a safe place as you will need it to obtain the SumExtra benefit.
Provided the cost estimate is less than three years old at the time it was last agreed (this could be when you purchased or renewed your insurance), you can enjoy the SumExtra benefit—just like that.
There’s no need to sign up
If you already qualify for SumExtra, there’s no extra paperwork to complete. And it comes at no additional cost. The cover is ready to go—if and when you need it.
You don’t have to miss out
If you don’t currently qualify for SumExtra, it’s easy to put right. Just work out the Sum Insured amount for your home using one of the methods below.
Already qualify for SumExtra?
Don’t forget you need to actively recalculate your sum insured every three years using one of our approved methods - it’s easy with the Cordell calculator. If you need to adjust the sum insured on your policy, contact your broker or adviser and remember to keep a copy of your calculation in a safe place.
The Cordell Calculator is an independent online tool that calculates how much it might cost to rebuild your home. The calculation is based on information from a variety of third party sources and typical rebuild costs for homes with similar materials and features. Check the information is complete and accurately describes your home, it’s easy to update.
You can use the cost it gives you to set the Sum Insured on your home insurance.
A qualified professional like a registered valuer, quantity surveyor, licenced building practitioner or other specialist we accept can assess your estimated rebuild cost.
Getting expert advice ensures that all the unique aspects of your home are taken into account.