Common use of Sum insured and deductible Clause in Contracts

Sum insured and deductible. ‌ 5.1 The Sum insured shall be determined by the Insured. This is a sum within the limit of which the insurance reimbursement is paid out; the amount of the sum insured shall reflect the reinstatement/replacement or/and market value of the insured object; sum insured for each object of insurance shall be specified in a respective insurance policy to which the provisions and terms of this Agreement shall apply; additional insurance reimbursement limits may be also determined, which will be reflected in respective insurance policy as well.

Sum insured and deductible. ‌ 5.1 The Sum insured shall be determined by the Insured. This is a sum within the limit of which the insurance reimbursement is paid out; the amount of the sum insured shall reflect the reinstatement/replacement or/and market value of the insured object; sum insured for each object of insurance shall be specified in a respective insurance policy to which the provisions and terms of this Agreement shall apply; additional insurance reimbursement limits may be also determined, which will be reflected in respective insurance policy as well.