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|17th August 2007, 12:45||#16|
Join Date: Aug 2007
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Regarding claiming total loss
I had a major accident, and has damage the chasis and the engine position has been tilted ,with the bent chassis , the AC Compressor is broken, both transfer cases are broken and well the exhaust manifold is cracked so is the windscreen. My vehicle is alto lxi, 2005 model. Insured value is 2 lakhs. Insurance is Royal sundaram.
maruti showroom has estimated that the repair cost will be 2 lakhs 7 thousand.
So the insurance surveyor has told me that they cannot proceed with the repair mode, since the repair costs is coming even higher than my IDV value.
So they have asked me to go for a settlement other than repairing.
On enquiring I found that going for Total loss settlement is the most beneficial. I was also told that since mine is private insurance they usually do not give total loss settlement easily. They will force for cash settlement which maybe substacially less than total loss claim.
Can anybody who has gone through the claim process or is aware of the process, advice me how to deal with insurance company and get the best benefit .
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