Question completion Status: 2 4 5 6 7 9 10 11 12 13 14 15 16 17 18 12 20 She Monet cher question will save this response Question of 20 Question 6 12 points Sama bough a household insurance policy from Flower Insurance Company. The policy covers the building as well as the contents. The sum insured for the building is AED 1,500,000, while the sum insured for the contents is AED 300,000. The market value of the building is AED 2,000,000, while the market value of the contents is AED 450,000 (12 marks) A covered poril occurred and caused damage to the building of AED 240,000, and the contents AED 70,000. Required: a) Calculate the building compensation ratio. (1 marks) b) Calculate the contents' damage compensation ratio. (1 marks) c) Calculate the total compensation that Sama will receive for the contents and the building (2 marks) d) Calculate the compensation that Sama will get if there is deductible of AED 2,100. (2 marks) e) What is the maximum amount that Sama can claim for special items, if there is a special item limit of 1/3 of the contests' sum insured. (2 marks) What is the maximum amount that Sama can claim for the cash if AED 30,000 cash was stolen, and there was a has cash limit in the policy of AED 10,000. (2 marks) 9) What is the maximum amount that Sama can recover for 1 item (luxury painting) If he policy a single item limit of 5% of the contents' sum insured and a painting with a value AED 40,000 was damaged. (2 marks) For the toolbar, press ALT 10 PC) ALTIN.F10 Mac BIVS Paragraph 10pt E E I & l I XX, 10 @ E > Art li MacBook Pro . 2 3 $ 4 E 5 0 6 PA Question completion Status: 2 4 5 6 7 9 10 11 12 13 14 15 16 17 18 12 20 She Monet cher question will save this response Question of 20 Question 6 12 points Sama bough a household insurance policy from Flower Insurance Company. The policy covers the building as well as the contents. The sum insured for the building is AED 1,500,000, while the sum insured for the contents is AED 300,000. The market value of the building is AED 2,000,000, while the market value of the contents is AED 450,000 (12 marks) A covered poril occurred and caused damage to the building of AED 240,000, and the contents AED 70,000. Required: a) Calculate the building compensation ratio. (1 marks) b) Calculate the contents' damage compensation ratio. (1 marks) c) Calculate the total compensation that Sama will receive for the contents and the building (2 marks) d) Calculate the compensation that Sama will get if there is deductible of AED 2,100. (2 marks) e) What is the maximum amount that Sama can claim for special items, if there is a special item limit of 1/3 of the contests' sum insured. (2 marks) What is the maximum amount that Sama can claim for the cash if AED 30,000 cash was stolen, and there was a has cash limit in the policy of AED 10,000. (2 marks) 9) What is the maximum amount that Sama can recover for 1 item (luxury painting) If he policy a single item limit of 5% of the contents' sum insured and a painting with a value AED 40,000 was damaged. (2 marks) For the toolbar, press ALT 10 PC) ALTIN.F10 Mac BIVS Paragraph 10pt E E I & l I XX, 10 @ E > Art li MacBook Pro . 2 3 $ 4 E 5 0 6 PA
