How do I determine the Sum Insured for my policy?

You can choose one of the following to be your policy's Sum Insured: 1) Your original mortgage loan value; 2) the cost of your property reinstatement; 3) your current mortgage loan value.

If you choose your Sum Insured to be the cost of rebuilding your property, a property valuation must be conducted annually and the Sum Insured may change year to year depending on the valuation.

Many homeowners choose a Sum Insured equal to their current mortgage loan value. However, a mortgage loan's value drops over time, which means the Sum Insured will also decrease.