Superquote Terms: Sum Insured

Definition of Sum Insured

The sum insured is a phrase used by most insurers to signify the total amount any piece of property or item is insured for.  Normally the sum insured is the highest amount an insurer is liable for in the event of a claim.

In home insurance, the sum insured tends to be either the rebuild value of the property (for buildings insurance) or the value of the contents, in the case of contents insurance. 

In most business insurance policies the sum insured can relate to a number of things including the level of liability an insurer is covering or the level of stock or contents of a building.