A private warehouse owner insured his warehouse valued at Kshs.400, 000 for Kshs600, 000 against risk of fire. The warehouse was later destroyed completely by fire...

      

A private warehouse owner insured his warehouse valued at Kshs.400, 000 for Kshs600, 000
against risk of fire. The warehouse was later destroyed completely by fire including goods worth
shs 100,000.
Required:
i) Determine the amount of compensation paid by the insurance company
ii) Give a reason for your answer in (i) above

  

Answers


Kavungya
i)400,000
ii)true value of property
Kavungya answered the question on April 3, 2019 at 09:30


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