[Aviator_guy]

Originally Posted by prince707

Hi, my wife accidentally scraped a wall and hit the pillar in her workplace parking. Should I claim my own damage insurance for this or get it repaired at an outside garage at my own cost? I believe no FIR is required. BHPians please guide. This is the first time for me.

Front damage looks significant (due to bonet, radiator etc). How old is your car and what is NCB ? You can get an assessment how much you might have to pay out pocket in insurance claim and do the math vs NCB savings during next renewal.

Do you know a trusted FNG who can do a good job? Else it is better to claim insurance and get it done at ASC.

No FIR AFAIK since there is no third party injury. However, since damage is at two different locations, it would be surveyor's call to approve one or both depending on your case.

[MT_Hyderabad]

A silly question, but relevant to me.

My car's registration expired last year. Before registration expired, I had taken a third party insurance which is active till June'24, as I knew that no one will provide me any loss claim anyways on a RC expired car.

I know that I should not drive this car, but it is still used occasionally.

The question is, should I renew the third party insurance? Will it be of any help on a car whose registration has expired?

The car is 15 year old, stationed in Hyderabad. Delhi registered till June'23, there is no chance that the registration could be renewed as Delhi has 15 year RC expiry rule on petrol vehicles and I will not send this car back to Delhi for any RC renewal formalities.

[Aviator_guy]

Originally Posted by MT_Hyderabad

A silly question, but relevant to me.

My car's registration expired last year. Before registration expired, I had taken a third party insurance which is active till June'24, as I knew that no one will provide me any loss claim anyways on a RC expired car.

I know that I should not drive this car, but it is still used occasionally.

The question is, should I renew the third party insurance? Will it be of any help on a car whose registration has expired?

The car is 15 year old, stationed in Hyderabad. Delhi registered till June'23, there is no chance that the registration could be renewed as Delhi has 15 year RC expiry rule on petrol vehicles and I will not send this car back to Delhi for any RC renewal formalities.

Well, I'm not going to get into moral policing because you know better. Let me stick to technical aspects - New vehicles can get transit insurance as well as regular insurance even before registration (insurance is prerequisite for registration). So going by that, it should be technically possible to get insurance. However what purpose it would serve legally, when the car itself is not roadworthy, is what I'm wondering about. If traffic cops stop you, car could be impounded with heavy fines. If you cause any third party damage then claim may not be honored by insurance company. So it's not serving any real purpose or am I missing something?

[MT_Hyderabad]

Originally Posted by Aviator_guy

.. However what purpose it would serve legally, when the car itself is not roadworthy, is what I'm wondering about.

Yes, this is the question. Will third party insurance compensate a third party when the car has lost its registration?

On the internet, I am only getting a few instances where insurance claim for car theft was denied to the owner for an unregistered car. My concern is third party damage.

[joe angelo]

Almost 10-year-old German car- Is there any possible insurance company which gives nil depreciation policy?

I have taken Nil dep insurance for my 7-year-old Micra from go digit insurance, but I don't know if any company provides nil dep for 10-year-old cars.

Any possible help?

[throttleAddict]

I'm getting my i20 N-Line N8 DCT delivered next week and still need to make the payment. The showroom has provided me with an SBI Insurance quote of 46K. However, when I checked SBI's quote on Policy Bazaar, it was 3K less. Additionally, other insurance options, like New India, are significantly lower at 26K for the same IDV, which is a difference of almost 20K. I'm confused about which option to choose. Please advise.

[Shome]

How is Liberty as a provider?

I'm looking to renew for my 2nd hand 2019 Octy. want a zero dep and Liberty is one of the very few options that is affordable. This is going to be at 0% NCB as I've recently bought this car

[damanbir]

Hello,

I need advise regarding the Insurance claim for an accident that happened last week.

Details:

We as a family were returning home after a dinner around 11PM when a speeding (100 Kmph+) Thar driven by a drunk driver rear ended our Innova Crysta.

Thankfully the my family and the driver of the Thar did not suffer any serious external injuries, both Innova and Thar took majority of the damage of impact. The driver of the Thar was taken to the hospital by the police, and his Blood test was done which confirmed alcohol.

The Settlement:

Next day the family of the Thar's driver reached out and requested for a settlement as they had a small baby and that the the driver had learnt his lesson, so we agreed.

Our car was insured with Zero Dep and all the repair was covered, hence the settlement was to compensate for the NCB Loss, Depreciation in vehicle value due to accident and damage to accessories which summed up to a 6 digit figure, the same was mentioned in the DDR report in the Police station. (DDR mentioned the compensation for vehicle damages)

Insurance Claim:

The car was towed to the nearest Toyota dealer and the initial inspection confirmed damage to the Chassis and the majority of the rear end including the floor and suspension. The estimates came close to 5 Lakhs, and was sent to Future Generali for approval along with the claim form and the copy of DDR.

The Surprise:

The Insurance company approved the repair but the settlement amount mentioned in the DDR will be deducted and have to be borne by us as we were compensated for vehicle damages (Wording used in the DDR), where as we took the settlement for depreciation and NCB Loss.

Has anyone faced a similar issue? What can be done in this case?

[saket77]

Originally Posted by damanbir

Hello,

The Surprise:

The Insurance company approved the repair but the settlement amount mentioned in the DDR will be deducted and have to be borne by us as we were compensated for vehicle damages (Wording used in the DDR), where as we took the settlement for depreciation and NCB Loss.

Has anyone faced a similar issue? What can be done in this case?

Sorry to learn about the accident that you faced due to the menace of DUI.

According to one of the principles of insurance, the following is of our interest right now in this case:

Principle of Indemnity

This principle says that insurance is done only for the coverage of the loss; hence insured should not make any profit from the insurance contract. In other words, the insured should be compensated the amount equal to the actual loss and not the amount exceeding the loss. The purpose of the indemnity principle is to set back the insured at the same financial position as he was before the loss occurred. Principle of indemnity is observed strictly for property insurance and not applicable for the life insurance contract.

So, any settlement that you have made, should have made between only you and the other party without involving the police, esp in written records of theirs. The insurance company upon learning the compensation received by you is technically correct to have it adjusted. See, if you can undo this mistake and get the compensation directly.

Also, I am not any insurance expert but just know it in theory. Would appreciate if experts in the matter pitch in their views here.

Thanks.

[damanbir]

Originally Posted by saket77

The purpose of the indemnity principle is to set back the insured at the same financial position as he was before the loss occurred. .

Thank you for your inputs, I agree with what you said.

As the cheque was post dated, we have not technically received any compensation so that's what we are going with.

Personally I will not drive a car with accident history, so I plan to sell this car after repair from the dealership. The compensation would have covered for the depreciation.

Ironically the insurance does not take the 'Zero-Dep' in literal sense.

[bijims]

Hello, BHPians!
I am sad to say that my brand new scooter (hardly a couple of months old) was involved in an accident on 10th June 2024 at around noon, I was near the parkway of my home slowly getting into my gate when a Bike rammed into the back of my scooter and sent the pillion seated behind me flying, she had a few injuries to her arm and feet, while the rider who rammed into me also suffered injuries to his hand, by the grace of god, I was left unscathed.

However, since it was a mistake on his part, I requested him to claim his insurance to get the repairs done and the damages fixed, on contacting his insurer (IFFCO TOKIO), they outright refused to admit the third party liability on account of the legal difficulties involved and long time required to get the third party claim, Now I am in a fix, He hit me, My scooter is damaged, I am left without a vehicle for commute, my pillion suffered injuries and I had to pay the hospital bill and now his insurer outright refuses to admit the third party claim, asking me to file an own damage claim for nothing of my fault, I am losing on my 50% NCB which I had accumulated and transferred to my policy and would have to pay at least Rs.1214 more next year, and onwards, due to me losing my NCB.

What can be done, now it is as if whatever happens, it's my fault and I have to take my OD cover, I enquired with my insurer Digit whether they could subrogate but that too seems something not possible by what I hear from their side.

Is there any remedy where an innocent person like me, who was hit both mentally, physically and financially by a careless biker to get his vehicle repaired, or is filing a case and waiting for years the only remedy to get a TP claim?

However, the biker in question who caused the accident is willing to cooperate with any proceedings provided an insurance claim is received to settle the claim from his TP liability.

Anyone who knows what to do in this situation, what is the best and easiest way to get this fixed. please help me, any and all advice is greatly appreciated. If you need any further details I will be more than happy to respond.

[self_driven]

Originally Posted by bijims

Anyone who knows what to do in this situation, what is the best and easiest way to get this fixed. please help me, any and all advice is greatly appreciated. If you need any further details I will be more than happy to respond.

Sorry to hear that, mate. Wishing your pillion rider a speedy recovery.

The easiest way out will be to claim own damage on your policy and take compensation from the biker. This amount will include repair expenses that you have to pay out of pocket + lost NCB amount + treatment expenses + any amount you deem fit to compensate for the unnecessary trauma this episode has caused in your life. Depending on the severity of damages, you can skip insurance claim altogether and ask the biker to pay repair expenses in full.

Third party claims are a joke in our country. In 90% cases, it is better to opt for outside settlement if the other party is cooperative.

[ghodlur]

Originally Posted by bijims

However, the biker in question who caused the accident is willing to cooperate with any proceedings provided an insurance claim is received to settle the claim from his TP liability.

I assume the biker who hit your 2 wheeler must have damages on his bike, he in any case will be filing a claim. He can file a OD and a TPL claim both in a single claim. When the TPL claim is sanctioned, the amount equal to your 2 wheeler repair charges can be claimed from biker Insurance co. Either the Insurer pays the amount or can be refunded to biker or yourself directly provided you get the 2 wheeler repaired and submit the bills. Pls note in all these transactions the biker is the front end and your are at the back, so the reliance on the biker is heavy. Also note the 3rd party claim is time consuming and to the whim n fancy of the biker insurance co.

If nothing of the above works, you don't have any other option but to forgo the NCB and claim the repairs from your Insurance co. You need to decide whether you are willing to fight or take the latter option for the peace of mind.

[bijims]

Originally Posted by ghodlur

Also note the 3rd party claim is time consuming and to the whim n fancy of the biker insurance co.

If nothing of the above works, you don't have any other option but to forgo the NCB and claim the repairs from your Insurance co. You need to decide whether you are willing to fight or take the latter option for the peace of mind.

The Biker's insurance company IFFCO TOKIO is unwilling to cooperate and says they absolutely won't entertain any Third party claim at all and will do all they can to make wait 3 years to get the claim, such is the audacity of the company.

It seems I have no other option but to forego the NCB I have attained and claim the repairs from my insurance company, and am now at the mercy of the biker who may or may not reimburse the costs involved.

Sad state of affairs that me, and my family who haven't had a single accident in our lives is forced to pay out of our pockets for a fault of a reckless biker.

[govigov]

I recently bought a used car and it has a policy from oriental insurance company ltd expiring in Nov'24. I am finding it difficult to transfer the name on the policy from the previous holder to my name, as 1) the old office shutdown and merged 2) no one from the new office is willing to entertain a name change. I even have very trusty contact working in another insurance company, but with very good ties to oriental insurance company office of a different branch. As per the contact, even the guys from the different oriental insurance company branch has complained that the branch to which my policy is tied to, is useless and are not all responding or coperating with this branch. What are my options?

I can just get a new policy and get done with it, as I am not much interested in Oriental. Can I do that? My contact says, as the details of the existing policy is updated in vaahan, they wont entertain a different policy.

I am at the mercy of this god forsaken office and its branch employees now. What do I do?


PS: The branch is about 25 kms from my place.