Question

cost of machinery 60,000, insurance policy includes average clause 50,000, goods saved 6,000, amout of claim will be
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Answer 1

Answer:

cost of machinery=60,000

insurance policy include average clause 50,000

and saved amount=6,000

save amount=60,000 - 50,000=10,000

total saved amount=10,000 + 6,000

= 16,000Answer.

Thanks

Answer 2

Answer:

Cost of machinery = 60,000

insurance policy = 50,000

goods saved = 6,000

So goods lost =60,000 - 6000

=54, 000

amout of claim will be

Claim = Loss Suffered x Insured Value/Total Cost

=(54, 000 x 50,000) /60, 0000

=45, 000

amout of claim will be 45,000