Guys,
The thumb rule in question here is you pay 4 % premium for the value at which you wish to insure you ICE which must be supported by a legitimate bill. At the time of a claim they will pay you the depreciated value as per their norms. There is nothing like 50% or 70% or less or more. All boils down to after how long you make the claim.
The same also applies to all repairs you make to your car.
BTW - I just got my ICE and other accessories insured for Rs 2 lacs even thought it cost me under Rs 1 lac so if & when the need to make a claim arrives I think my cost will be covered.
Viper
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