Keith owned a motor vehicle valued at Sh.2,000,000.He comprehensively insured the car at Sh.1,200,000.The motor vehicle was involved in an accident and declared a write...

Keith owned a motor vehicle valued at Sh.2,000,000.He comprehensively insured the car at Sh.1,200,000.The motor vehicle was involved in an accident and declared a write off.Calculate the amount Keith should get from the insurer.

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(Sum insured * loss)/actual value of the car

=[2,000,000x1,200,000]÷2,000,000

=2,400,000,000,000 ÷ 2,000,000

=Ksh. 1,200,000

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Nchoga answered the question on December 9, 2018 at 08:56

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