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Insurance claim

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Student
7053 Points Posted on 25 February 2019
how will insurance claim be calculated in case
1.stock on the day of 🔥 was 440k
2. insurance policy amount 200000
3. salvage value 50000
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On 25 February 2019 at 12:52 Report
Replies (5)
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teaching
2046 Points Posted on 25 February 2019
if insurance policy with out average clause, amount of claim is up to the value of policy i.e. 2,00,000.
if policy with average clause, amount of claim is RS. 1, 77,283. (3,90,000 x 2,00,000/ 4,40,000)
2 Reply
On 25 February 2019 at 13:25
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Student
7053 Points Posted on 25 February 2019
What if the insurance policy amount greater than the Value of stock lost?
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On 25 February 2019 at 23:16
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teaching
2046 Points Posted on 26 February 2019
we can recover total loss of stock by fire. i.e. 3,90,000
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On 26 February 2019 at 08:44
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Student
7053 Points Posted on 26 February 2019
what if we incurred 🔥 fighting expenses
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On 26 February 2019 at 08:49
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teaching
2046 Points Posted on 26 February 2019
if policy covers fire fighting expenditure, insurance company will pay fire fighting exp also.
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On 26 February 2019 at 09:31


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