Great question! Since we’ve discussed the basis for calculating sum insured in the aprevious section, let’s see how it works in practice. The Sum Insured (SI) for the structure can opted for on the following basis:
1. Flats/Apartments - Agreed Value basis or Reinstatement basis or Indemnity basis
2. Individual Buildings/Bungalows - Reinstatement basis or Indemnity basis
SI for Content can be opted for on New for Old or Indemnity basis.