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Old 13th February 2018, 17:30   #751
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Default Re: Need advice after Accident

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Originally Posted by smack_himanshu View Post

Insurance person saying that your car is repairable and we will give approval for repair, hence they are not considering it for total loss. According to them for car to be treated as total loss it should be irreparable.

If I want to go for monetary value then only it will be for 7 lacs only.
What the insurance person is saying sounds true. My sister crashed Wagon R and I wanted to give it in for total loss as we were sure she would be moving to Canada within months. Having to hold on to a car that had crash repairs meant lot of trouble for me when it came to selling the car and also niggles that crop up post repairs in case I keep the vehicle.

Tried discussing the idea of total loss with insurance guys and came to know that :
a. If cost of repairs exceed IDV, IDV is shelled out and
b. If the cost of repairs is approximately 80% of IDV or more, then the owner can discuss getting 80% or the respective percentage of IDV. This is not always done, but can be discussed and taken forward.

Insurance firm in my case was Bajaj Allianz.

So you will get IDV of vehicle only if repair costs exceeds IDV. Else, insurance firm will push you to get the car repaired. Try to push for total loss, in case of repairs there's a chance of getting unforeseen out of pocket expenses during repairs.

Last edited by aaggoswami : 13th February 2018 at 17:37.
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Old 14th February 2018, 11:38   #752
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Default Re: Need advice after Accident

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I have seen the list of parts needed for repair. It does not contain any component related to axle. The service adviser also suggested that its better you take the money as in re-sale I may not get same amount of money.
They will say what the agent feeds them with. My humble opinion is to get a second opinion. If there is chassis damage or misalignment, its just not worth it.
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Old 15th February 2018, 17:25   #753
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Default Re: Need advice after Accident

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I have seen the list of parts needed for repair. It does not contain any component related to axle. The service adviser also suggested that its better you take the money as in re-sale I may not get same amount of money.
7L for 85K, 5 Year old Skoda, you would never get that kinda money in the used market.

For heavens sake, pocket the 7L and sleep tight, it is a blessing in disguise for you, neither in the used market (as stated above) nor if were to sell it 2 days after repair that you'll get 7L with that vintage and brand.

I repeat, do NOT think twice, grab the offer !!
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Old 15th February 2018, 19:32   #754
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Default Re: Need advice after Accident

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Originally Posted by Torquedo View Post
7L for 85K, 5 Year old Skoda, you would never get that kinda money in the used market.

For heavens sake, pocket the 7L and sleep tight, it is a blessing in disguise for you, neither in the used market (as stated above) nor if were to sell it 2 days after repair that you'll get 7L with that vintage and brand.

I repeat, do NOT think twice, grab the offer !!
I have already asked the insurance company to go for cash loss and also requested to increase some amount to which they said can be looked into and may increase by 10k or so.
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Old 15th February 2018, 20:36   #755
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Default Re: Need advice after Accident

Please get an report and confirmation in writing that the chassis is not misaligned. If it is misaligned, find out the magnitude.
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Old 11th April 2018, 11:33   #756
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Default Re: Need advice after Accident

I got it checked from one of the local mechanics and he also suggested not to get the car repaired. After this discussion only I went ahead for cash loss with insurance company.

Finally the claim with insurance company has been settled.
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Old 11th April 2018, 12:33   #757
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Default Re: Need advice after Accident

Can someone explain when exactly a car can be written off as a total loss? Is it only if repair costs exceed or are near the IDV or does it have to do with the service center/insurance agent's diagnosis on whether the car can be repaired or not? Note that the first type only relies on cost and the second only looks at the repairability (from an engineering point of view).

So which one is it and what is the reasoning behind smack_himanshu's case?
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Old 17th April 2018, 13:16   #758
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Default Re: Need advice after Accident

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Originally Posted by McLaren Rulez View Post
Can someone explain when exactly a car can be written off as a total loss? Is it only if repair costs exceed or are near the IDV or does it have to do with the service center/insurance agent's diagnosis on whether the car can be repaired or not? Note that the first type only relies on cost and the second only looks at the repairability (from an engineering point of view).

So which one is it and what is the reasoning behind smack_himanshu's case?
Hi,

In my case the car was repairable and total cost of repair was less than 80% of the IDV. Hence, I had to go for cash loss.

For total loss, either the car should be irreparable or total cost of repair should be over 80% of IDV (cost of repair is shared by service center and needs to vetted by the insurance surveyor).
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