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Cordell Calculator
Use the Cordell Calculator to set your Sum Insured
The Cordell Calculator is an independent online tool that helps you calculate how much it might cost to rebuild your home. The calculation is based on typical rebuild costs for homes with similar materials and features.
You can use the cost it gives you to assist in setting the Sum Insured on your house insurance.
If your home is insured for its replacement value (Maxi policy or ANZ Asset Protector), you could also be eligible for our SumExtra benefit at no extra cost. All you need to do is use the Cordell calculator to help you determine your rebuild costs, by simply entering your address. Make sure you check the information is complete and accurately describes your home, and update your Sum Insured to be at least equal with your rebuild estimate. Make sure you update this figure at least once every three years. Make sure you keep a copy of the calculation in a safe place. You’ll need it if you need to make a claim.
You can find more information in our policy documents.
Information you’ll need
Your home’s unique features could affect the cost of repairing or rebuilding. When you use the Cordell Calculator to estimate your rebuild cost, you’ll need to review and possibly update information like:
- How many storeys your home has
- If it’s built on flat or sloping land
- What it’s made of—including flooring, walls and roof materials
- Total floor area
It’s important to describe your home accurately. It’s a good idea to physically measure parts of your home if you’re not sure.
Don’t forget the extras
Under your insurance policy, you’ll be covered for things outside of your home, but within your residential boundary. Extra features such as these can have quite an impact on the cost of rebuilding your home:
- Any decks (including their area and what they’re made of)
- Garages or carports
- Paving and driveways
- Fencing or retaining walls
- Water tanks
- Landscaping
- Pools
- Tennis courts
What is the Cordell Calculator?
The Cordell Calculator is an independent tool that uses information from a variety of third party sources and typical rebuild costs for homes with similar materials and features. Simply enter your address and check the information is complete and accurately describes your home.
Why is setting your Sum Insured important?
It’s important to make sure you have the right level of cover for your home. It means you’ll be able to rebuild or repair your home if you need to, but it also ensures that you’re only paying for cover you actually need.
Using the Cordell Calculator, you can get an estimate of how much it might cost to rebuild your home, and set your Sum Insured. Otherwise, you can contact a registered valuer, quantity surveyor or other approved building practitioner to get your rebuild costs professionally estimated. For Vero customers, if you’ve calculated and set your Sum Insured using the Cordell Calculator with correct inputs, or another method that we accept, you could also qualify for SumExtra — find out how to qualify.
How often should you check your Sum Insured?
It’s a good idea to check your Sum Insured regularly.
To qualify for Vero’s SumExtra benefit, you need to check and update your Sum Insured at least once every three years from when it was last set (this could be when you purchased or when you renewed your insurance). However, the costs of labour and building materials in New Zealand can change rapidly. If you keep your information ready, it’s easy to re-check the likely cost to rebuild your home every year or so, and update your insurance policy if you need to.
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 and is not intended to be financial advice. For advice on product suitability, please contact your financial adviser.
