Page 442 - Motor Insurance Ebook IC 72

The Insurance Times

b) Fire and/or theft risks (page no.193)
c) Vehicles imported without customs duty (page no.395)
d) Electrical / electronic Fittings (page no.177)

4. Calculate Insured's Declared Value 6 each

(IDV) for purpose of Pvt. Car Package policy.

i) Make - Honda Civic

ii) Mfg. Year - 2006 (January)

iii) Purchase Price - Rs. 9,50,000/-

iv) New Price - Rs. 11,30,000/-

v) Add. Fittings

i) Tubeless Tyres Rs. 60,000/- each. New value Rs.75,000/

- each.

ii) High wattage Head lamps(Jan.2007) Rs. 15,000/- X 2

no.s (new value Rs. 18,000/-)

Ans :

Current Year : 2008
Mfg. Year : 2006 (January)
Price : 9.50 Lac
New Price : 11.30 Lac

Cost of Old Car 9,50,000
Car : 1,20,000
Tubeless Tyres :
Head Lamps : 30,000
11,00,000

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