What would be the value of Aisha's claim if she originally purchased a second-hand property for £800 and it was worth £300 at the time of loss?

The value of Aisha's claim is determined by the principle of indemnity, which aims to put the insured party back in the position they were in before the loss occurred, without allowing for profit from the insurance. In this scenario, Aisha purchased the second-hand property for £800; however, its market value at the time of the loss was only £300.

In insurance, the claim is typically based on the value of the property at the time of loss, which is reflected in the principle of indemnity. Since the property is only worth £300 when the loss occurred, this is the amount for which Aisha can claim. It represents the actual cash value of the property at the time it was lost, adhering to the insurance principle that compensates for the loss of value rather than the original purchase cost.

Thus, Aisha's claim value corresponds to the current worth of the asset at the time of the loss, which is £300. This aligns with insurance valuation methods that consider depreciation and market conditions when determining compensation.