Work out the likely cost to rebuild your home, including demolition, labour, materials, professional fees and compliance upgrades, rather than relying only on its market value. Check the policy’s Product Disclosure Statement for cover limits, excesses and exclusions, particularly for flood, storm damage, wear and tear, and unoccupied periods. Keep details of renovations and valuable fixtures up to date, and ask the insurer whether safety features or an updated building report affect the assessment. Comparing quotes is useful, but the most suitable cover depends on your property and circumstances, so consider speaking with the insurer or a licensed insurance professional.