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What is Property Insurance Case Study Analysis about?

Rani insures her rental property for RM460,000, though it is currently worth RM935,000. When a fire caused RM230,000 in damage, she would receive RM113,155.08 maximum compensation using the average clause principle. Ranjit bought his house 15 years ago for RM296,000, now worth RM390,000. He insured it for the purchase price but did not update it. A RM230,000 fire occurred. Calculating actual cash value and ratio to 80% of value, his maximum payout is RM218,205, with him paying the remaining RM11,795.

Author

Kwek yuxuan

Language

EN