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Old 12th July 2019, 14:22   #16
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Default Re: Oriental Insurance - Wrongly trying to push total loss settlement as a repair settlement

The rule says that for any car which is either discontinued or beyond 5 years of age, the IDV value is a matter of mutual consent between the vehicle owner and insurance provider within a range,

https://www.mintwise.com/blog/car-de...dv-calculator/

Try a different dealer or FNG, I think you personally bought your insurance as we all do and not from the dealer. When is the expiry date of your vehicle insurance?

Last edited by deehunk : 12th July 2019 at 14:35.
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Old 12th July 2019, 19:28   #17
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Default Re: Oriental Insurance - Wrongly trying to push total loss settlement as a repair settlement

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Originally Posted by deehunk View Post
The rule says that for any car which is either discontinued or beyond 5 years of age, the IDV value is a matter of mutual consent between the vehicle owner and insurance provider within a range,

https://www.mintwise.com/blog/car-de...dv-calculator/

Try a different dealer or FNG, I think you personally bought your insurance as we all do and not from the dealer. When is the expiry date of your vehicle insurance?
Oh, okay. But how will changing the IDV help in my case?

A different dealer or FNG will still not solve the problem with Oriental, right? And the insurance expires on October 10th this year.
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Old 13th July 2019, 00:22   #18
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Default Re: Oriental Insurance - Wrongly trying to push total loss settlement as a repair settlement

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Oh, okay. But how will changing the IDV help in my case?

A different dealer or FNG will still not solve the problem with Oriental, right? And the insurance expires on October 10th this year.
They are saying that the liability is valid only if the cost does not exceed 75% of the IDV value, in your case the valid limit will be Rs.121,500. Can you negotiate the repair cost with the service center? I think you are losing on plastic parts, please visit Trend and talk to Dinesh. When the second owner of my previous car Rapid met with an accident, some body parts were transplanted from old cars.

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Old 14th July 2019, 18:25   #19
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Default Re: Oriental Insurance - Wrongly trying to push total loss settlement as a repair settlement

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They are saying that the liability is valid only if the cost does not exceed 75% of the IDV value, in your case the valid limit will be Rs.121,500. Can you negotiate the repair cost with the service center? I think you are losing on plastic parts, please visit Trend and talk to Dinesh. When the second owner of my previous car Rapid met with an accident, some body parts were transplanted from old cars.
I had called Trend before I went to Honda. He is the one who suggested it will cost 1.5L and that I should leave it to Honda since procuring spares is also very troublesome.

I got a PDF that has the e-mail IDs of all the IRDA officials. Will be e-mailing them tomorrow in the hope that the issue is resolved from their end without having to deal with the inefficiency of Oriental's imbeciles.
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Old 19th July 2019, 00:53   #20
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Default Re: Oriental Insurance - Wrongly trying to push total loss settlement as a repair settlement

I had e-mailed a bunch of the Consumer Affairs Department folk from IRDA. To my honest surprise, not a single person replied. I even called two of them asking them to look into the case and do something, all they gave were false promises.

I met with the DGM of Oriental Insurance today - he started off by saying that they will only process the case on repair loss basis since their liability does not cross 75%. When I asked him to show documentation where it said that the "aggregate" bit of the terms and conditions only refers to their liability and that there are court cases and Ombudsman judgments that serve as precedents for this. He told me to go to court if I am going to talk about court cases.

If anyone is looking for a document with court cases that highlight the fact that total repair cost is to be considered for total loss and not the insurer liability, the PDF is attached with this post. It can be downloaded here: https://www.mediafire.com/file/3nlin...rance.pdf/file

I also learnt that IRDA's IGMS portal is an utter sham. There is zero intervention of IRDA in any of it. The first complaint is addressed by Oriental and when you escalate it, it goes back to Oriental again. There seems to be no way to get the IRDA to intervene in the matter at all.

In the meantime, Magnum Honda has called me and asked me to either repair the car or remove it from their premises by paying Rs.9,650 for estimation and parking charges.

Any suggestions on what to do?
Attached Files
File Type: pdf OrientalInsurance.pdf (139.9 KB, 19 views)
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Old 19th July 2019, 07:06   #21
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Default Re: Oriental Insurance - Wrongly trying to push total loss settlement as a repair settlement

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Any suggestions on what to do?
If you have the time, inclination and patience to pursue a legal case Ashwin, please do so by all means - it's the right thing to do morally.

If I were in your place, I'll just take Oriental's money, pay the rest from my pocket, get the car repaired, sell it post repair and move on with life. With a busy job and extreme demands on my time, my opportunity cost of pursuing this is way too high to make economic sense.
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Old 19th July 2019, 09:19   #22
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Default Re: Oriental Insurance - Wrongly trying to push total loss settlement as a repair settlement

Sorry if I missed but have you made a complaint on pgportal about the ordeal caused to you by this public sector Insurance company.

https://www.team-bhp.com/forum/shift...light=Pgportal (Heard of pgportal.gov.in? About time you do)
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Old 19th July 2019, 13:20   #23
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Default Re: Oriental Insurance - Wrongly trying to push total loss settlement as a repair settlement

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If you have the time, inclination and patience to pursue a legal case Ashwin, please do so by all means - it's the right thing to do morally.

If I were in your place, I'll just take Oriental's money, pay the rest from my pocket, get the car repaired, sell it post repair and move on with life. With a busy job and extreme demands on my time, my opportunity cost of pursuing this is way too high to make economic sense.
I absolutely agree with the latter part of your post. The only thing nibbling away at me is the thought that if no one ever fights back against these Insurance companies' shameful behaviour, nothing will ever change and they will continue to take advantage of other citizens. We being educated are in a position to let the money go because it isn't so important. But it bothers me that there are hundreds of people out there who have been swindled out of the money they rightfully deserve.

It's just a principle thing for me. Nothing to do with the money. That said, the Ombudsman is a one-time affair. There is only one meeting and they decide then and there. Concern being, the time taken. Could take months to a year. I cannot let the car rot like that in the meantime.

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Originally Posted by Sherlocked View Post
Sorry if I missed but have you made a complaint on pgportal about the ordeal caused to you by this public sector Insurance company.

https://www.team-bhp.com/forum/shift...light=Pgportal (Heard of pgportal.gov.in? About time you do)
Thank you for your suggestion.

I did use PGPortal. But the complaint went to the same person who handles their IGMS grievances. So none of it worked.

Last edited by ashwin.terminat : 19th July 2019 at 13:22.
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