Insurance Coverage Gap Calculator
Compare an estimated replacement value you already have with the policy limit shown in your insurance documents.
The entered policy limit is below the replacement-value estimate you entered.
Keep your inputs, result and assumptions together. Replace any example values before saving. Review the report to print it or save a PDF through your browser. The file is created on your device.
What the coverage ratio means
The calculator divides the policy limit you enter by the estimated replacement value you enter. A C$450,000 limit compared with a C$500,000 replacement-value estimate produces a 90% ratio and a C$50,000 difference.
That arithmetic does not determine whether a policy is adequate, whether a claim would be paid in full, or which valuation method the insurer uses.
Replacement value is not market value
For home insurance, the cost to rebuild a dwelling is a different concept from the home's sale price, land value or tax assessment. For personal belongings, replacement cost can also differ from depreciated actual cash value.