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The Insured’s Declared Value (IDV) of the vehicle will be fixed at the commencement of each policy period for each insured vehicle. The IDV of the vehicle is to be fixed on the basis of manufacturer’s listed selling price of the brand and model at the commencement of insurance and adjusted for depreciation (as per schedule specified below). The schedule of age-wise depreciation as shown below is applicable for the purpose of Total Loss/ Constructive Total Loss (TL/ CTL) claims only. A vehicle will be considered to be a CTL, where the aggregate cost of retrieval and / or repair of the vehicle subject to terms and conditions of the policy exceeds 75% of the IDV.
IDV of vehicles beyond 5 years of age and of obsolete models of the vehicles (i.e. models which the manufacturers have discontinued to manufacture) is to be determined on the basis of an understanding between the insurer and the insured.
The car premium depends not only on the IDV but also on the make of the car, the year of manufacturer, Model No, etc. Hence all the details are required for car insurance quotes.
Alternately you can provide us with your contact details and we can ask the insurance companies to contact you directly.
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I want to know wheter its possible to claim a total loss on third party insurance? Our maruthi zen (2005) was totaly damaged due to a private travel bus hitting from behind. Our insurance policy (third party only) was expired before the accident will it effect the claim process. Please provide...
The only possible claim for a third party insurance policy is when you have to pay someone else for a third party injury and for any legal liability, the insurance company would pay. Thus, it would not pay for a self damage of the car. For availing the claim for self car damage, you need to avail a... Read More>>
Hi I am buying a new car from Toyota with a loan from HDFC, Bank has accepted to reduce interest by .5%with the condition that the insurance for car should be from them with the insurance value of 28K but Toyota is offering the insurance at 38K with depreciation waiver and they accepted to reduce...
Apparantly, it makes more sense to opt for the offer by HDFC bank since the Insurance amount is lesser, which means year on year renewal will also be lower.They are also reducing your loan% which is more lucrative than the upfront Rs 15000 save from Toyota which offers Rs 38000 insurance. However,... Read More>>
i just purchased a honda accord (2nd hand) and got ownership transferred on RC as well. Car was insured by HDFC ERGO. How can i get the insurance transferred in my name
If you have purchased the car with a valid Insurance Policy the same needs to be transferred to your name. According to the rule, as soon as the sale deed is done, there is a Form 29 and a Form 30, which needs to be submitted to the Insurance Company even before the Registration Certificate is... Read More>>
I have a zero debt insurance of my car and it met with an accident last week , Can u brief about what will i have to shell and and what will insurance company pay. Its a Ford Figo and the expenses or the estimated bill will be around 1.5lakhs + labour.
Hi Bipin,It is surprising to know that your car met with the accident last week and you still do not have the break up of amount payable by you and the insurance company. The process of claim usually is -1) Go to the authorised service centre of your Ford dealer2) Register your claim3) Insurance... Read More>>
MY BIKE'S INSURANCE GOT EXPIRED, I WANT TO RENEW IT..I GOT SHIFTED TO BHUBNESWAR...77xxxxx3
You can compare online and choose a plan for yourself.
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However since your policy has lapsed, you might have to get the same surveyed before it can be renewed. Also, you will have to check whether or not you can get your No Claim Bonus as it depends on the... Read More>>
Sir i purchased Ford Figo in Oct 2013 and my insurance was with Future Generali ins. I took 4 claims till Aug 2014.
Then they canceled my policy saying that i have bad claim ratio and i have to get insurance from some other company .and submit the proof of it to get refund on pro rata...
Since you have had 4 claims in the first year of the policy, they have considered your car as a "High Risk Vehicle" and thus they have decided not to continue with the same. The Insurance Company had issued a Policy Bond for the coverage tenure of 1 year, i.e. till September 2014. They might however... Read More>>
I am purchasing a new car and handed my old car in exchange, to the car dealer. My old policy was having 50% NCB.
Please guide the procedure to transfer the NCB to the new car.
At the time of transferring your NCB, you need to submit your older policy at the time of purchase and they will be able to do the processing for you. You need to submit the policy the policy details
Sir I have purchased Hyundai X cent in may 2014. I have taken insurance from Bajaj alianz through dealer. It was zero dep. Insurance. The premium amount was approx 20000. Some body has told me that it would have been cheaper if it was taken online directly from Bajaj alianz. Is it true?? Can I get...
You can compare and get the best rate for the same by clicking on:
FEW DAYS BACK MY CAR DZIRE 2012 MAJORLY DAMAGED IN AN ACCIDENT.
DAMAGED FROM BACK SIDE EVEN ALSO FROM FRONT.
IDV RS. 5.26 LAKH, REPAIR ESTIMATE RS. 2.9 LAKH, IN MY HAND TO BE PAY RS. 60,000 (APPROX).
I DON'T WANT TO REPAIR CAR, WANNA COVER IT UNDER TOTAL LOSS.
WHAT OPTION DO I HAVE FOR TOTAL...
In car insurance, a total loss is a judgment (decision) by the insurance company, that the lost value or repair cost of a damaged property exceeds the value of its policy / depreciated worth. The total loss also factors other incidental expenses beyond repair, such as salvage. In your case the car’s... Read More>>
Sir what will be my premium amt Second year For car insurance at 0%dep, if no claim is made in last one year. Also plz tell, if claim made
Premium depends on a lot of things like the Car Make, Year of manufacture, etc. You can get the quote at:
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