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.

Related MCQs

• Net claim on under insurance is equal to Loss of stock x value of stock On the date of fire
• The clause through which the insurance claim due to loss of stock is reduced to the proportion that the policy value is …………………………..
• The insurance claim due to loss of stock is reduced to the proportion that the policy value bears to the value of stock
• Insurance claim is a claim ……………………… by the insurance company
• Fire insurance policies contain an “average clause” to discourage ……………………………..
• The claim lodged by the business to …………………….. on happening the event is known as insurance claim
• It is ………………………….. to ascertain the value of stock as on the date of fire
• The insurance policy is less than the value of stock
• Average clause is a …………… in the insurance company
• The account prepared to find out the stock as on the date of fire is known as ……………………………… trading accounts.