The formula to find claim is
policy value/closing stockx loss by fire
closing stock/policy value x loss by fire
property value/policy value x closing stock
policy value/loss by fire x closing stock
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Answer:
It depends on value of closing stock insured.
If it is fully insured value of claim will be restricted to actual loss and if it is under insured we use average clause to find value of claim.
Insured amount/insurable amount ) x loss of stock
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