marine transit insurance under ITC A
Querist :
Anonymous
(Querist) 11 June 2011
This query is : Open
Sir
On my transfer I conveyed my luggage through a Packer and Mover by road. Total consignment was insured under ITC A by ICICI Lombard Marine transit insurance policy for Rs100000/-
Enroute there was damage to Motorcycle, washing machine and few costly saree.
Now the surveyor inspected. He calculated the total value of consignment to be Rs230000/- and hence said that extent of insurance will be 44%.
Now as sarees were to be replaced, 10% depreciation and 44% deduction for extent of insurance was applied on it. Thats understood.
but the repair charges for motorcycle and washing machine were 12000/- even for repair and labour he has deducted 10% as depreciation and 44% as extent of insurance. This part is not understood.
I as layman simply correlate with my motor vehicle insurance. whatever is the declared value of the vehicle, the repair and labour costs are reimbursed as it is and does not depend on declared value of the vehicle.
the loss working statement of surveyor is attached. kindly advise.
