SUMIT KUMAR SAHA vs RELIANCE GENERAL INSURANCE COMPANY LIMITED

The Supreme Court addressed the interpretation of insurance policy provisions under the Consumer Protection Act, particularly focusing on the indemnity clause in the context of a claim for a Volvo Hydraulic Excavator. The Court held that the insurer is liable to pay the actual value of the item immediately before the loss, deducting proper depreciation, as stipulated in the insurance policy. The judgment clarified the obligations of the insurer regarding total loss and repair costs, emphasizing the need for adherence to policy terms while determining claims.