Dwelling Coverage Calculator

Formula

To calculate the Dwelling Coverage:

\[ \text{Dwelling Coverage} = \text{Square Footage} \times \text{Cost per Square Foot} \]

Where:

Dwelling Coverage is the total amount of coverage needed ($)
Square Footage is the total area of the home (sq ft)
Cost per Square Foot is the current rebuild cost per square foot ($)

What is Dwelling Coverage?

Dwelling Coverage is the part of a homeowners insurance policy that covers the cost to rebuild or repair the physical structure of your home in the event of a covered loss, such as fire or windstorm[^1^].

Example Calculation 1

Let's assume the following values:

Square Footage = 2000 sq ft
Cost per Square Foot = $150

Using the formula:

\[ \text{Dwelling Coverage} = 2000 \times 150 = 300,000 \text{ dollars} \]

The Dwelling Coverage needed is $300,000.

Example Calculation 2

Let's assume the following values:

Square Footage = 2500 sq ft
Cost per Square Foot = $200

Using the formula:

\[ \text{Dwelling Coverage} = 2500 \times 200 = 500,000 \text{ dollars} \]

The Dwelling Coverage needed is $500,000.