When the vehicle is damaged extensively and the cost of its retrieval and repairs is more than the 75 % of IDV, it is treated as total loss claim. In all such claims insurer offers the IDV less the cost of salvage if the damaged vehicle is retained by insured or else the insurer … [Read more...] about Issues in Arriving at a Car's Salvage Value in Total Loss
Yes, If you are to enjoy your rights as a consumer, you need to abide by the laws of the land. Or else, you lose your right as a consumer — this is the clear message that comes across in a recent order of the apex consumer court. The case pertains to an insurance claim for … [Read more...] about Car Insurance Claim not payable if law is violated
The Insurance Regulatory and Development Authority has created a Motor Third Party Declined Risk Insurance Pool. It provides mandatory third party cover for commercial vehicles. The existing motor third party pool will be dismantled with effect from March 31, 2012. The motor … [Read more...] about IRDA : Dismantling of existing Indian Motor Third Party Pool
What is MACT? Motor Accidents Claims Tribunal (MACT) deals with matters related to compensation of motor accidents victims or their next of kin .The Tribunal deal with claims relating to loss of life/property and injury cases resulting from Motor Accidents. Who can report to … [Read more...] about How to file a Claim at Motor Accident Claims Tribunal (MACT)?
What is "hit and run motor accident"? As per Sec 161 of Motor Vehicle Act, “hit and run motor accident" means an accident arising out of the use of a motor vehicle or motor vehicles the identity whereof cannot be ascertained in spite of reasonable efforts for the … [Read more...] about Hit And Run Car Accident : How to Claim Injury Compensation?
It’s very common for a bike user to forget to renew his motorcycle insurance and sometimes not even realise it unless he gets a reminder from the insurance company or gets fined by traffic cops. Now motorcycle owners can also renew their policy online in just a few easy steps. … [Read more...] about Now renew your bike insurance online!
What is Covered? 1. Loss or Damage to your car against Natural Calamities Fire, explosion, self-ignition or lightning, Earthquake (Fire and Shock) Damage, flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, landslide, rockslide. 2. Loss or … [Read more...] about Know your Comprehensive Car Insurance Policy!
Car insurance policies can be divided into two categories on the basis of insurance coverage – a. Third-party Liability Car Insurance b. Comprehensive Car Insurance Who is third party? As per insurance terminology, the first party is the insured person or the owner of the … [Read more...] about What is covered in ‘Third Party Liability’ car insurance?
Future Generali has simplified Motor Insurance claims process with - Future Xpress and Future Xpress+. The company has introduced Future Xpress schemes initially in Chennai and Mumbai and Future Xpress+ in Ahmedabad, Kolhapur, Hyderabad, Bangalore and Trivandrum of the 47 … [Read more...] about Future Generali simplifies Motor Insurance claims with – Future Xpress and Future Xpress+
What is online insurance buying? As the name suggests, online insurance buying is buying insurance online . Online insurance buying is as easy as paying your utility bills online, booking a ticket through a travel portal or doing internet banking. If you can do the latter, the … [Read more...] about How to buy car insurance online?