kindlustussummade
Kindlustussummad (sum insured) are the maximum amounts an insurer will pay under an insurance contract for a covered loss. They set the limit of indemnity, distinct from the actual value of the insured item or the premium charged. In Estonian insurance usage, kindlustussummad refer to these sums.
In property and motor insurance, the sum insured is typically the replacement cost or declared value of
Sums insured also interact with policy limits. For liability insurance there can be per-claim limits and aggregate
Underinsurance risk: If a loss exceeds the sum insured, the payout is typically reduced proportionally (the
Premiums usually rise with higher sums insured, and insurers may require re-evaluation after major changes to