Question

Mr Subhash purchased the new car for ₹ 3,50000 and insured it with Oriental Insurance Company and National Insurance Company for ₹3,50,000 each. On an accident, the car was completely damaged and he claimed compensation from both the companies. Can he get the compensation from both the companies? Which principle of insurance is related with it? (a) Yes, Principle of indemnity (b) No, Principle of indemnity (c) Yes, Principle of Contribution (d) No, Principle of Contribution​

Answer 1

Yes , Principal of contribution

Answer 2

$ANSWER$

(a) Yes, Principle of indemnity is correct option.

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