Meaning of “sum insured” in the English Dictionary

business-english dictionary

"sum insured" in Business English

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sum insurednoun [ C ]

uk us plural sums insured INSURANCE

a maximum amount that an insurance company will pay to someone who makes a claim:

It is vital for homeowners to make sure that the sum insured reflects changing building costs.

(Definition of “sum insured” from the Cambridge Business English Dictionary © Cambridge University Press)