Question

Atul is a dealer of dress material for ladies suits. He deals in variety of fabrics like Silk,
Embroidered cotton, Synthetic, Georgette, Lycra, Nylon, Crepe, Satin etc. He took a
fire insurance policy for his stock worth * 5 lakh. After 6 months, his shop catches
accidental fire due to short circuit. But there was no loss to the stock because of the fire
safety measures installed his shop. He claimed the compensation for the furniture
destroyed as the fire occurred in his shop.
Whether Atul would get the money from the insurance company or not. State the relevant
insurance principle in this regard.​

Answer 1

Answer:

no because his has not incurred any loss