How is the insured amount determined?

The sum insured is the maximum amount you can be compensated for in the event of a claim covered by the policy.

This can be determined based on:

• replacement cost – the current cost of rebuilding the home
• actual value - the new value minus depreciation
• market value - the estimated value of the home at the time the policy is issued

The same principle applies to the contents of your home, so that the coverage you choose best reflects their actual value. If you need help, we’ll guide you in choosing the right option for you.