Question: My shop's stock was insured for ₹8 lakh, but at the time of a fire, the actual value of stock in the shop was ₹12 lakh. The fire caused a loss of ₹6 lakh. Since I was underinsured, how much can I actually claim from the insurer?
Answer: Approximately ₹4,00,000.

Supporting evidence:
title: Inline formula / method note
quote: Principle of Average (underinsurance clause)
context: Principle of Average (underinsurance clause) — standard condition in fire/property insurance policy wordings mandated by IRDAI-approved policy formats.