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Mr. Bright took an insurance policy …

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Mr. Bright took an insurance policy for his car. In an accident his car totally damaged. Insurer paid the full policy value to the insured. Mr. Bright has sold his car as scrap for Rs.50,000. Is he correct? Identify and explain the insurance principle violated in this case.

Posted by Shanth Kumar M Rawoor 3 years, 10 months ago

CBSE > Class 11 > Business Studies

2 answers

Mahi Bafna 3 years, 10 months ago

Mr. Bright took an insurance policy for his car. In an accident his car totally damaged. Insurer paid the full policy value to the insured. Mr. Bright has sold his car as scrap for Rs.50,000. Is he correct? Identify and explain the insurance principle violated in this case.

Shanth Kumar M Rawoor 3 years, 10 months ago

Mr. Bright took an insurance policy for his car. In an accident his car totally damaged. Insurer paid the full policy value to the insured. Mr. Bright has sold his car as scrap for Rs.50,000. Is he correct? Identify and explain the insurance principle violated in this case.

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