Calculating your Sum Insured
Most insurance policies provide coverage to the policyholder (or handle the necessary repairs) up to a predetermined financial limit, known as the sum-insured. This amount reflects the maximum value your policy will cover.
It’s crucial to select an appropriate sum-insured for your property and belongings. If your assets are undervalued, you could find yourself without enough coverage to rebuild or replace everything in the event of a disaster.
Online calculators, which use current building and replacement costs, are valuable tools to help you choose the right sum-insured. Below is a link to a Contents and Building Sum Insured calculator to help steer you in the right direction.
Please remember these calculators are a guide only and should not be taken as advice.