Article 947. Sum Insured.

1. The amount within which the insurer undertakes to pay the insurance indemnity under the property insurance contract or which it undertakes to pay under the personal insurance contract (insured amount) is determined by the agreement of the insured with the insurer in accordance with the rules provided for in this article. 2. When insuring property or business risk, unless otherwise provided by the insurance contract, the insured amount shall not exceed their actual value (insured value). This value is: for the property, its actual value at its location on the day of the conclusion of the insurance contract; for entrepreneurial risk, losses from entrepreneurial activity that the insured would be expected to incur if the insured event occurred. 3. In contracts of personal insurance and contracts of civil liability insurance, the sum insured is determined by the parties at their discretion.

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References to other articles of chapter 48. Insurance:
Article 927. Voluntary and compulsory insurance.
Article 928. Interests whose insurance is not allowed.
Article 929. Property insurance contract.
Article 930. Property insurance.
Article 931. Insurance of liability for causing harm.
Article 932. Liability insurance under the contract.
Article 933. Insurance of business risk.

Article 960. Transfer of rights to the insured property to another person.
Article 961. Notification of the insurer of the occurrence of the insured event.
Article 962. Reduction of losses from the insured event.
Article 963. Consequences of the insured event due to the fault of the insured, beneficiary or insured person.
Article 964. Grounds for exemption of the insurer from the payment of insurance compensation and the sum insured.
Article 965. Transfer to the insurer of the rights of the policyholder for damages (subrogation).
Article 966. Limitation of actions on claims related to property insurance.
Article 967. Reinsurance.
Article 968. Mutual insurance.
Article 969. Mandatory state insurance.
Article 970. Application of general rules on insurance to special types of insurance.
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