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Building insurance calculator

Affordable Building Insurance



Cover All the Fixed Structures

Cover all the fixed structures on your property, not just your home – your lapa, garages, swimming pool, fences, gates, walls, and tennis court.

Home Assist


Geyser burst? Kids broke a window? Get help right away with our 24/7 Home Assist benefit and our database of home experts.


Cover for Up to R20 Million



Make sure you’re protected financially if someone is injured on your property. Increase your homeowners liability cover to up to R20 million.

Calculating Building Insurance


You might think using a home insurance calculator in South Africa is simple. You just put in the market value of your house and voilà! You get a quote. However, if you do it this way, there’s a good chance your home won’t be insured for the correct value. And if that happens, you could either get a reduced payout if you ever need to claim, or end up paying too much in monthly premiums.


How to ensure your building is insured correctly


So, how do you make sure you’re insuring your home for the correct value when using a building insurance calculator? You give us at Budget a call! We can help you determine what the replacement value of your house will be should the worst ever happen to it. 

The first step to insuring your house for the right value is to understand the difference between the market value and the replacement value of it.


  • Market value: This is based on factors such as the neighbourhood, the sales price of other properties recently sold in the area, the size of your home, its features, its condition, and more.

  • Replacement value: This is what it would cost to rebuild your home from the ground up. It factors in the costs to demolish, clear rubble, and build. It’s vital that you take into account the fittings and fixtures as well – from the door handles to the swimming pool deck and everything in between. 


Your neighbourhood is also factored in when using a building insurance calculator. Because we insure you against damage done during a house-breaking – like broken locks and windows – the crime rate in your area matters, as does the level of security of your home.


In addition, it typically costs more to build a home from scratch than it does to buy one already built.  


Taking into account all of these factors, be aware that the replacement value of your home may be higher than its market value.


More than just buildings insurance

Homeowners insurance


All homeowners should have liability cover in place should the worst happen to a guest in your home, protecting you financially if you’re found to be responsible.

House insurance


At any given time, your home is subject to numerous risks that could wreck it. If you can’t afford to rebuild your home from scratch, house insurance is a must-have.

Home building insurance


Is there a distinction between insuring your home and business property? You bet there is. We take you through the differences here.

Find out More about 
Buildings Insurance



Thatched Structure Cover


We’ll cover thatch as long as you specify you have a thatched structure in your Buildings Insurance policy.



Comprehensive Cover


Cover your, your guests’, and your domestic employees’ belongings against theft with our Comprehensive Home Contents Insurance.



Assist Benefits


Both our Home Contents and Buildings Insurance comes standard with our full range of 24/7 Assist Benefits to help you out in a pickle.

Frequently Asked Questions

Is it better to over-insure my building than to under-insure it?

While neither over-or under-insuring is ideal, in the case of your building, we would recommend you rather be more cautious and insuring for too much than insuring for too little.

Building insurance claims can amount to a lot of money. Under-insuring can leave you with a much lower payout than you need to get your house back to its previous condition if it’s damaged. You would rather pay a few extra Rands every month than be short hundreds of thousands if you ever need to rebuild your home or a portion of it.


Will buildings insurance cover damage to my roof?

This depends on the situation. We don’t cover damage caused by wear and tear. If your roof leaks every time there is a rainstorm, you won’t be able to claim for this as it’s a normal part of home upkeep and maintenance. 

However, if your roof is perfectly intact and a hail storm with stones the size of soccer balls rips through it, we will cover the cost to repair the damage. This is considered an unforeseen event and no amount of home maintenance would have prevented this from happening.


How do I know if I’m under-insured?

Unless you’re an expert in home renovations, you might never know if your home is under-insured. The best way to make sure you have adequate cover is to get in touch with a specialist. There are valuations companies that specialise in determining how much the replacement value of a home should be. 

Also, remember to call us annually to make sure your policy still adequately covers your home on an old-for-new basis. This is when your older fittings and fixtures can be replaced with new ones in the event of a claim.


Can I get buildings insurance if my house is rented out?

Yes, you can still enjoy the same affordable Buildings Insurance if your home is rented out, along with all of our benefits. However, be sure to tell us the home is leased. 

It’s also your responsibility to make sure the tenants don’t break any of the agreements in your policy schedule, like making unapproved renovations. If this happens, your cover will be void and if something happens to your home, whether as a result of those renovations or not, you won’t be covered.


Can I get a buildings insurance quote if my house isn’t paid off?

Definitely! In fact, it’s more important than ever to use an affordable home insurance calculator in South Africa if you have a home loan. Imagine if your home burned down and you couldn’t afford to rebuild it. You would be paying off a house, possibly for the next 20 years, that no longer exists. Few people could recover from this financially.

Banks and other financial institutions that provide mortgages agree; most of them will only offer a home loan if you commit to having buildings cover for this exact reason.


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