Q16. How do I determine the Sum Insured for the Building and Renovation of my property?
You can refer to General Insurance Association website as a general guide for the replacement cost of your private property. Alternatively, you can seek professional advice from a qualified property valuer or quantity surveyor.
For renovations, the Sum Insured should be the current cost of replacing the renovations at your premises. You can use the price you paid for your renovations as an estimate or you can seek advice from an interior designer or renovation contractor.