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?Solution
Claim = (Sum Insured / Value) × Loss = (20/40) × 10 = ₹5 lakh
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Each question in this portion has a sentence with three parts (a), (b) and (c). Read each sentence to find out whether there is any error in a...
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