Marine Cum Storage Cum Erection Policy

Dhaval P Jha (Querist) 16 September 2009 This query is : Resolved
->I have taken "Marine Cum Storage Cum Erection Policy" from an Insurance Company in India.
->At the time of taking the Insurance, Order value of the Project was Rs.2.90 Cr.
But, I had taken Insurance of Rs.2.00 Cr S.I.
->Now my project has been completed and the Total Final Value of Completely Executed Project including the plant and machinery inclusive of freight, custom duty and cost of erection etc. is Rs.1.66 Cr.
->Obviously, during the term of the project/policy, the value of the project had never been crossed Rs.2.00 Cr S.I.
->Now my Query is : "If I would had any claim in this policy during its term would it had been considered as under insurance?"
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