Insurance co. denies RTI claim on my stolen Toyota Fortuner

The insurance company is portraying the facelift as a different model and is trying to avoid payment of on road price of today's 4X4 AT model towards the claim settlement.

BHPian Aditya recently shared this with other enthusiasts.

Thanks to Vidya Gupta for sending this information in. Heartfelt gratitude for sharing it with other enthusiasts via this Team-BHP share page!

Good Afternoon,

I am a regular visitor to this site for the last many years and though I have been bestowed the honour of membership of this site, I have not contributed anything. I have benefited from the wisdom and experiences of others shared on this site though.

Recently I have faced an unfortunate incident. I purchased a new Fortuner Sigma 4 (4X4) AT model in November 2016. Last month, it was stolen. It was insured with RTI (return to invoice) cover.

Now, while discussing the claim with the insurance company, they have mentioned that Sigma 4 is a discontinued model. However, to my knowledge and understanding, it is still the same model that is on sale as on date.

Can any esteemed member provide me with the necessary / authentic paper proof to refute the claim (that my Sigma 4 AT purchased in 2016 has been discontinued) of insurance company? The insurance company is portraying the facelift as a different model and is trying to avoid payment of on road price of today's 4X4 AT model towards the claim settlement.

Kindly consider it as an urgent request and if possible, try to respond ASAP.

Here's what BHPian Axe77 had to say on the matter:

I understand what the insurance company is not offering but can the OP please clarify what exactly they ARE offering? This will be instructive in assessing in how to react to the insurance company.

Also, what happens in the case where a model itself is discontinued. Just as an example, for instance, if I have a RTI for a 3GT and it is no longer sold, should they not at least benchmark to the closest equivalent model - in this case at very least a 3 series and more reasonably a 3 GL?

Here's what BHPian androdev had to say on the matter:

I am not surprised by this. I have shared my opinion on return to invoice cover in this thread: Car insurance - Return to Invoice vs IDV

As with all insurance claims, there is an ambiguity here and insurance company is playing dirty and he has to do what every Indian consumer is expected to do. Waste a lot of energy to get his due.

I am also curious to know what is the offer from the insurance company, without which this discussion is incomplete.

Here's what BHPian ninjatalli had to say on the matter:

So if I understand, there are three OTR prices being considered:

  • Fortuner 4X4 AT 2016 (owner's purchased) model.
  • Fortuner 4X4 AT 2020 (facelift) model.
  • Fortuner 4X4 AT 2021 (currently available) model.

Given the price increases every year, I'm guessing the 2021 model $ value > 2020 model > 2016 model.

As OP (/Vidya) hasn't really given the full financial details (Qs shared by @androdev), s/he's pushing for 2021 OTR price while the insurance firm is offering 2020 OTR price. Is there a sizeable monetary difference? Trust OP can clarify on the questions.

I guess the OP is trying to get the maximum buck possible. Nothing wrong in it but I wonder why the reluctance in sharing details here. It'd help in others responding, especially those aware of the Fortuner variants (differences).

P.S. If OP is already a member, why not post as a member directly I wonder?

Here's what BHPian balenoed_ had to say on the matter:

This isn't any LIC policy to get returns with bonus. The logic implied in the original post reminds me of central govts one rank one pension scheme.

As mentioned, it is "return" to invoice of the vehicle insured, not to take forward to the invoice of a currently sold model. Not sure if OP is serious about this claim.

I guess the insurance company is defending by not clarifying properly. Instead of defending by saying the car is discontinued (which is anyway irrelevant), they may be better off by just explaining the claimant what RTI actually means.

Btw, I thought RTI add on is given for 0 to 3 year old vehicles only.

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