FIRE INSURANCE

Valued policies can be issued for the following type of properties

• Properties whose market value can not be uncertained

• Properties whose market values can be ascertained

• High valued properties

• None of the above

Valued policies can be issued subject to the following

• Submission of Valuation certificate accepted by the insurer

• Based on declaration by the insured

• Loading to be charged on the applicable rate

• None of the above

Long term policies can be issued for the following minimum period of

• 2 Years

• 3 Years

• 4 years

• 5 years

In Long Term policy the following is possible

• Mid Term inclusion of peril

• Mid Term Increase Of Sum Insured

• Both possible

• None of the Above

Mid term inclusion of STFI and RSMD shall be charged on

• Pro rata basis and risk will start after 15 days of premium receipt

• Short Period basis and risk will start after 15 days of premium receipt

• Pro rata basis and risk will start after 30 days of premium receipt

• Short Period basis and risk will start after 30 days of premium receipt

The minimum premium for Tiny Sector Industry is

• Rs 25

• Rs 50

• Rs 100

• Rs 200

Temporary Sheds erected during monsoon(attached to main building) shall be considered as

• Kutcha Building

• Kutcha building with additional rate of 4%0

• Shall not be treated as kutcha building

• None of the above

In case of cancellation of policy by the insured

• Premium to be retained at short period scale for the period the policy has been in force

• Premium to be retained at short period scale for the remaining period of the policy

• Premium to be retained on pro rata basis for the period the policy has been in force

• Premium to be retained on pro rata basis plus 15% for the period the policy has been in force

Increase in sum insured during currency of policy shall be allowed

• On pro rata basis

• On short period basis

• On pro rata basis with additional loading

• On short period basis with additional loading

Tiny sector industry is one having Sum Insured Upto

• 5 Lakh

• 10 Lakh

• 15 Lakh

• 2 lakh