How to estimate value of home contents for insurance in Australia involves room-by-room inventory, using insurer calculator and receipts. Start with listing each room, lounge, dining, kitchen, bedrooms, laundry, garage and outdoor, and list major items with replacement cost new for old, not second-hand value. For example, lounge includes sofa $2K to $5K, TV $1K to $3K, coffee table $500, rug $500, total $5K to $10K. Dining $2K to $5K. Kitchen appliances fridge $1K to $2K, dishwasher $800, microwave $300, small appliances $500, total $5K to $10K. Bedrooms, bed $1K to $2K each, wardrobe $1K, bedding $500, times 3 beds $10K to $15K. Clothing $10K to $20K for family, including $200 per outfit times 50 outfits. Electronics computers $2K each, phones $1K each, tablets $500, total $5K to $10K. Jewellery $2K to $10K, list individually over $1,000. Tools and garage $2K to $5K. Use insurer online contents calculator from NRMA, Allianz, Budget Direct, which asks number of bedrooms and lifestyle to estimate $50K to $150K. Take photos and keep receipts for high-value items. Add 10% buffer for items missed. For average 3-bed house, estimate $80K to $120K. For 4-bed $100K to $180K. Review annually as you buy new items. So estimate by room inventory, replacement cost, calculator and receipts.
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