What does sum insured mean?

June 1, 2013

This link provides a useful guide to explain what the sum insured changes mean for homeowners from the insurance and savings ombudsmen:

 

http://www.iombudsman.org.nz/sites/default/files/Sum%20Insured%20Fact%20Sheet.pdf

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Estimated the potential cost of rebuilding your home? Find out what to do next. Adjust your Sum Insured by contacting your insurer or look for more support.

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http://need2know.org.nz/what-you-need-to-do/sort-out-your-sum-insured/

Already tried Rebuild Calculators? Find out the real Sum Insured Value

Sum Insured Valuations - suminsureddirect.co.nz‎

Estimated the potential cost of rebuilding your home? Find out what to do next. Adjust your Sum Insured by contacting your insurer or look for more support.

Our Home policies provide cover for the cost to rebuild your home up to a Sum Insured. This means, in the event of a total loss (a loss that requires the complete  ...

Therefore, if the cost of rebuilding your home exceeds this maximum cap. (called thesum insured), then your insurance company will only pay the costs up to the ...

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House insurance is changing & will now be based on the rebuild cost of your home.This is called your 'Sum Insured'. Find out more from AA Insurance.