• Car insurance claim related

My car last month get an accident at the time i will inform to my car insurer.my car insured declare value is 758400.but the car's repair cost estimation quote is coming arround 9.59Lac so insurer issue one certificate due to repair cost quote is more than IDV so they are declare Total constructive loss.

 Actually my car's age is 2.5years only As per the IRDA rule my car value should be calculated as manufacturers price+standard depreciation.My car's IDV is very low price is given by my insurer.Those informations are i am getting from internet only.I don't know whether the information are correct or not?

 Now the insurer told to me if you put case nothing will be got now we got offer for your vechile 8 lac as this condition so better you sell your to the buyer & they give the buyer number.

 I am totally confused in this matter.I don't know what to do?Please suggest me.
Asked 4 years ago in Civil Law

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8 Answers

Please note that if you have paid premium as per IDV you will be only entitled to the amount as per IDV. If they refuse to reimburse the amount as per IDV then you can claim it by filing a consumer complaint. Remaining extra amount you are bound to pay which is more than IDV.

If your claim is declared as a Total Constructive Loss, the insurance company would pay the Insured Declared Value (IDV) of your vehicle after deducting the estimated wreck value or scrap value. The scrap value is the estimated price that can be earned by selling off the damaged car and its parts as scrap.

However, you can get the vehicle repaired if you want. The insurance company would pay the Total Constructive Loss claim and would be free from any further liability on the vehicle.

Swarnarka Chowdhury
Advocate, Mysore
1878 Answers
5 Consultations

5.0 on 5.0

1. If the calculation of the insurer is wrong as regards the valuation of the car as well the compensation to be paid , then you have legal remedy against the insurer.

2. Yo can then file a case against the insurer before the consumer forum seeking balance compensation on the ground of deficiency of service.

3. Do not go by the advice of insurer in selling the case. They are misleading you totally.

Devajyoti Barman
Advocate, Kolkata
22515 Answers
402 Consultations

5.0 on 5.0

Since car repairs costs are Rs 9.59 lakhs better sell your car at price offered to you

Ajay Sethi
Advocate, Mumbai
87892 Answers
6207 Consultations

5.0 on 5.0

Sir since the IDV was agreed at time of taking insurance and you took insurance agreeing to insurance company condition so now they can refuse the losses above that value and can further indemnify about the claims about the insured value only so in this situation it is better to give away the total.loss vehicle In highest price you can further get new vehicle as even if file in consumer court the insurance company has insured value and can contest

Shubham Jhajharia
Advocate, Ahmedabad
25516 Answers
179 Consultations

5.0 on 5.0

If you have already purchased the insurance policy for the insured value written by you then you cannot do much now.

Different companies have different insured values. But still you can approach consumer court for more compensation value.

Abhilasha Wanmali
Advocate, Nagpur
1022 Answers
1 Consultation

4.8 on 5.0

They are guiding you well.

Koshal Kumar Vatsa
Advocate, Gurgaon
2283 Answers
3 Consultations

5.0 on 5.0


You may file a case against them before the consumer forum if they are acting against the terms of the insurance.

Also you question is not very clear on the point as to what the insurer is saying. Kindly clarify?


Anilesh Tewari
Advocate, New Delhi
17940 Answers
377 Consultations

5.0 on 5.0

You have to look for insurance claim as per the insurance cover if the insurance policy is in force at the time of accident.

The insurance company cannot under value or give an estimation in excess.

You may assess the situation through the company who may be giving an estimation for the repair.

If the insurance company has quoted reasonable charges towrds the claim, then you may accept the offer or if suspect any foul play then you may consult an advocate whether to accept it or to go ahead with a consumer case against the insurer.

T Kalaiselvan
Advocate, Vellore
78048 Answers
1543 Consultations

5.0 on 5.0

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