Page 427 - Motor Insurance Ebook IC 72

Guide for Motor Insurance

SOLUTION:

The total loss after depreciation is Rs. 6,875/-

The labour charges towards repair comes to Rs. 850/-

Assessment against spares after depreciation : Rs. 6,875
Labour charges assessed : Rs. 850

Rs. 7,725

Less: 50% (of Rs. 7,725) as per endorsement No.23 : Rs. 3,862

Rs. 3,863

ADJUSTMENT OF LOSS : Rs. 3,863
Loss assessed as per endorsement No.23.
Less: 1) Salvage : Rs 250 : Rs. 250
Rs. 3,613
2) Excess : NIL

Rs. 250

Claim Payable Rs. 3,613/-.

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