Page 433 - Motor Insurance Ebook IC 72

Guide for Motor Insurance

Ex. No. 6

A Yamaha Motor cycle registered on 1-1-2011 is insured
(SI Rs. 30,000) for a term from 1-1-2011 to 31-12-2011
under form "8" Policy of two wheeler package Policy.
The IV met with an accident on 1-8-2011 and insured
furnished claim form along with estimate of loss as
follows.

1. a. Cost of replacement of front Mudguard Rs. 750/-
b. Cost of colouring of front Mudguard Rs. 450/-

2. Cost of Replacement of H/L Assembly Rs. 1,200/-

3. a. Cost replacement of fuel tank Rs. 2,800/-
b. Cost of painting of fuel tank Rs. 1,500/-

4. Mechanical charges Rs. 500/-

5. Salvage Value Rs. 50/-

Work-out the amount recoverable by insured under the Policy.

Solution:

1) Cost of Replacement of Mudguard Rs. 1,200
2) Cost of Replacement of H/L Assembly Rs. 1,200
3) Cost of Replacement of fuel tank Rs. 4,300
Rs. 6,700

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