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The nuts and bolts of "sum insured" house insurance.
Until recently, most insured homes were covered by a "total replacement" policy based on the size of the house. But homeowners now have to estimate the cost of rebuilding their house - and insure it for that. This cost is the "sum insured". It's the maximum amount the insurer will spend if the house needs to be repaired or rebuilt.
We look at what this means for you. We also do a few calculations of our own.