You may only be entitled to your full sum insured in the event that your home is a total loss, or we're unable to repair or rebuild your home. For example, if part of the downstairs area of your home has flooded, we would pay to repair the damaged downstairs area, but we wouldn't pay for upstairs areas of your home that haven't been damaged.
You can find more information about sum insured, including things to consider and tools to help calculate your sum insured, here. For full details of what you're covered for, please refer to your policy document.