Question

Naman got his office insured for Rs.5 crore against fire. Due to a short circuit a fire broke out in the office & amount of loss was estimated to be 20 lac .What is the amount of claim payable by the insurance company? *
1 point
5CRORE
4.8 LAC
20 LAC
NONE OF THESE

Answer 1

Answer:

20 Lacs

Bcoz the insurance company is liable to pay only for the damaged goods equal market value money.

Answer 2

Explanation:

According to the principle of indeminity the compensated amount will be equal to rs. 20 lakhs.