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      Question

      An insured house valued at ₹40 lakh is insured for

      ₹20 lakh. A fire causes ₹10 lakh damage. What will be the claim amount under the average clause?
      A ₹10 lakh Correct Answer Incorrect Answer
      B ₹5 lakh Correct Answer Incorrect Answer
      C ₹8 lakh Correct Answer Incorrect Answer
      D ₹6 lakh Correct Answer Incorrect Answer
      E ₹4 lakh Correct Answer Incorrect Answer

      Solution

      Claim = (Sum Insured / Value) × Loss = (20/40) × 10 = ₹5 lakh

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