Estimate the cost to rebuild your home, including demolition, debris removal, professional fees and required building upgrades, rather than using its market value. Check the policy’s Product Disclosure Statement for covered events, exclusions, limits and whether flood, storm damage, fixtures and temporary accommodation are included. Compare the excess and conditions across policies, and make sure you disclose relevant details such as renovations, construction materials and whether the property is vacant. Review the sum insured regularly and consider getting advice from a licensed insurance professional if you are unsure.