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Which of the following is the sequence forcomputing Claim in Fire Insurance ?Computing loss, computing stock on dateof fire, computing claimcomputing stock on date of fire,computing loss, computing claimcomputing claim, computing loss,computing stock on date of firecomputing profit, computing loss,computing claim |
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Answer» Answer: ADVERTISEMENTS: The actual amount of claim is determined by the formula: Claim = Loss Suffered X Insured VALUE/Total Cost. The object of such an Average Clause is to limit the liability of the Insurance Company. Filing fire insurance claims enables you to repair or even rebuild your damaged home. "Actual cash value" policies entitle you to the amount it WOULD take to return your home, including its contents, to its pre-fire fair market value. ... So, as long as it's the same value as your OLD lot, your insurance covers it. 90-120 days Most fire claims, if handled correctly, should settle within 90-120 days.. Claimants who are unfamiliar with the fire claim process are likely to make mistakes which result in settlement DELAYS. |
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