Our Car Maruti Baleno 2006 model met with an accident where the car was completely damaged. The driver was also critical and had to be operated 3 times. The car was insured with IDV of 385k. The Surveyor agreed to TOTAL Loss however in his report states the insurers liability of 200K where as repair estimate is of 609K. The insurance co says it will give a cash loss of 160K + salvaged car or NettoSalvage which also means the same. Their arguement is that the car is discontinued therefore IDV makes no sense and only market value of car which is 200k will be given.
Since the car was discontinues in 2007 and insurance renewal was done on 2009 on IDV value (depriciated value) and not on market value than my claim is valid for recieving full IDV as the co should not have recd instalment on depr value.
Please let me know if Iffko tokio will pay me IDV value that is 385K and not market value thats 200k for my car.
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Iffco Tokio — non payment of car insurance claim
My car was stolen on the 15 march 2011.the claim was filed on 17 mar 2011.
till date i have received no intimation from iffco tokio regarding the status of my claims despite of repeated tries on the helpline number.