- 13 Sep 2022
I still have a remaining balance on my mortgage. Which amount should I declare as a sum assured?
- Updated on 13 Sep 2022
In case you have a mortgage, the sum assured can’t be less than the remaining amount of your loan. However, we advise you to insure your house for a sum equal to your property's actual replacement value.
You can also confirm this in advance with your bank, if possible, since they will have to review the home insurance policy to give a final approval.