What is Sum Insured (Strata) | Insurance glossary by upcover

The sum insured is the most a strata insurance policy will pay for damage to, or loss of, the insured property. The owners corporation must make sure this amount is high enough to cover the full replacement of the building and common property.

Related Terms

Market Value Cover (Strata)

Replacement Cost Cover (Strata)

Depreciation (Motor)

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Related Term

Market Value Cover (Strata)

Replacement Cost Cover (Strata)

Depreciation (Motor)

All Category

Financial

Legal

Insurance Documents

Fundraising

Employment

Policy

Risk Management

E&O

D&O

Commercial Insurance

Cyber

Compliance

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