Homeowners Insurance Calculator

Tamsen Butler
Calculator and House

A homeowners insurance calculator can help you decide how much insurance you should purchase when shopping for a homeowners policy. Most insurance companies feature these types of calculators on their websites to assist potential customers to examine their insurance needs.

Insurance Questions

A homeowners calculator is designed to assist potential applicants in figuring out exactly how much coverage they need for their homes and the contents contain therein. Common questions homeowners will have to ask themselves in order to use an insurance calculator effectively include:

  • How much would it cost to rebuild my home in the event of a disaster?
  • How much would it cost to replace all the contents of my home?
  • How much money can I set aside to keep available in the event that I need to pay a deductible?
  • Do I need some additional coverage, such as flood insurance or extra policies to cover expensive or precious items?

It is also important to know the basic information regarding your home before attempting to use an online calculator if you want to receive the most accurate estimate possible. You should know the market value of your home as well as the square footage of your home. If you aren't sure of the exact market value or square footage of your home you can estimate, but this will make the results less accurate than if you had the actual data.

Online Home Insurance Calculators

One of the best places to look for a homeowners insurance calculator is within the website of your preferred insurance provider. Most insurance companies offer calculators online as a portion of their quote process or as a part of their educational material available to web visitors.

If your insurance company does not offer online homeowners insurance, or does not offer an online calculator, you can check out one of these calculators available free-of-charge:

  • Home Insurance offers a quick calculation of how much dwelling coverage should be purchased based on local market value as well as square footage of the home.
  • Liberty Mutual offers a simple calculator that is designed to help homeowners figure out what types of coverage they need as well as how much coverage they can afford.
  • Progressive always provides the most competitive quotes for insurance, but you'll need to be ready to offer your contact information.
  • Realtor.com offers a useful calculator that asks things like your risk tolerance and the net worth of your house.

Estimates and Quotes

Some insurance companies offer rate insurance quotes based on information input into an online calculator. This can be a quick and simple way to get an estimate of the cost of a homeowners insurance policy based on preliminary data.

It's important to remember that any estimate derived from a homeowners insurance calculator is merely that: an estimate. Even if an estimate comes directly from the company where you intend to purchase the policy, you need to realize that other factors may be taken into consideration beyond the initial calculator estimate questions including:

  • Previous homeowners insurance claims
  • Credit score or credit history
  • Exact location of your home

Other factors are taken into consideration by insurance companies before actually issuing a policy; so, even if a calculator on an insurance company website estimates that you will have a relatively low payment each month, it may not actually be the case after all factors are examined.

Calculate With an Agent

Insurance agents have computer programs and calculators that the general public does not have access to. Contact an insurance representative for a more accurate calculation than you will receive by using one of the available calculators online.

Asking an insurance agent to run some numbers through a policy calculator does not usually cost any money and there is usually no obligation. Insurance agents are happy to calculate potential costs for you because they want to compel you to purchase a homeowners insurance policy from them.

Homeowners Insurance Calculator