The clause through which the insurance claim due to loss of stock is reduced to the proportion that the policy value is …………………………..

Related MCQs

• The insurance claim due to loss of stock is reduced to the proportion that the policy value bears to the value of stock
• At the time of calculating insurance claim , the average clause is ………………. If the value of stock at the date of fire was more than the policy value.
• Net claim on under insurance is equal to Loss of stock x value of stock On the date of fire
• Insurance claim is a claim ……………………… by the insurance company
• The claim lodged by the business to …………………….. on happening the event is known as insurance claim
• The claim lodged by the business to the insurance company on happening the event of loss is called …………………..
• The insurance policy is less than the value of stock
• Salvage value of stock to be ……….. from book value of stock
• Average clause is a …………… in the insurance company
• Fire insurance policies contain an “average clause” to discourage ……………………………..