Your browser version is no longer supported, so you may experience issues while using this site.
Please upgrade to a current browser to enjoy the best experience.

Sum Insured

When it comes to Sum Insured, don't go with guesswork

When you take out cover for your home, you’ll need to specify a Sum Insured that represents the maximum total amount we’ll pay to repair or rebuild your home.

We encourage you to calculate an appropriate Sum Insured for your home to make sure you have enough cover if you need to repair or rebuild. Getting it right also means that you only pay for the cover you actually need.

You can calculate your Sum Insured online, or ask a professional like a registered valuer, quantity surveyor, licenced building practitioner or other specialist we accept to help.

If you don’t specify a Sum Insured, we’ll set a default Sum Insured based on the information we have. But we don’t know your home as well as you do and this Sum Insured might not provide adequate cover. This approach also means the SumExtra benefit won’t apply.

Use the Cordell Calculator to set your Sum Insured

The Cordell Calculator helps you crunch the numbers for home insurance online in minutes. You can use the cost it gives you to set the Sum Insured on your home insurance.

Cordell Calculator

Or get your Sum Insured professionally assessed

A worthwhile alternative is to have a qualified professional like a registered valuer, quantity surveyor, licenced building practitioner or other specialist we accept assess your estimated rebuild cost. Getting expert advice ensures that any unique aspects of your home are taken into account.

Helpful tips

1

Once you set it, don't forget it

It’s a good idea to check your Sum Insured regularly. Remember, to qualify for Vero’s SumExtra benefit, you need to check and update your Sum Insured at least once every three years. Bear in mind that the costs of labour and building materials in New Zealand can change rapidly, so it’s worth doing this regularly. Make sure you also update your Sum Insured if you make any improvements or alterations to your home.

Talk to your broker or adviser if you need to update your Sum Insured amount.

2

Make your house insurance go further with SumExtra

If you’ve updated your Sum Insured using a method we accept, you could also qualify for SumExtra. SumExtra gives you extra cover at no extra cost when you insure your house with one of Vero’s eligible policies.

Find out more about SumExtra

Get insured with Vero

For expert advice on how Vero can help you with your insurance needs, talk to a broker or adviser. Our locator helps you find a broker or adviser near you.

Find a broker

We’re for New Zealand

We’re here for New Zealanders whether it’s for general or specialist cover, we’re here to make insurance mean more for our customers. That means we do what really matters to make insurance more useful and more relevant to help you feel more confident.

About us

24/7 free emergency HELP assistance

If you have an accident or disaster anywhere in New Zealand our HELP team is just a phone call away—even if no insurance claim is involved.

Call HELP Call us0800 800 786 after hours in an emergency.

HELP provides practical advice as well as a 24-hour referral to a comprehensive nationwide network of recommended service organisations and trades people. A call to HELP costs you nothing, so if you have got a problem with plumbing, a leaking roof, broken glass, replacement of locks or electrical faults, call our New Zealand based HELP team for rapid assistance.

Making a claim

If you need to make a claim, or have a question about a claim, contact your broker or adviser, or you can contact us at the Vero Claims Centre—we’re here to help. If we can, we’ll settle your claim immediately. To help speed things up, make sure you have your policy number and claim details on hand.

If you’ve got a home, contents or car insurance claim with us, you can make a claim online.

Important information

Excesses, terms, conditions, limits and exclusions apply to these policies. Please check the policy wording for details of cover. The provision of cover is subject to the underwriting criteria that apply at the time.

Our website provides general information about our products and services to help you make choices when it comes to protecting the things in life and business that really matter. The information doesn’t take into account your personal circumstances, needs or goals and is not intended to be financial advice. We recommend that before you purchase insurance, you get professional advice from a broker or adviser who’s registered under the Financial Advisers Act 2008.