Repair cost more than IDV

Hi All,
I am a new member to this forum . Had an accidental damage to my Scorpio 2006 model with IDV of 2.56L purchased online from Bajaj Allianz. Car is towed to Mahindra Body Shop on 1st dec.
Mahindra body shop is charging 15k as estimate charges and 500 Rs per day parking charges. They told me the car shoul go in total loss and I should get the IDV from insurance company. They submitted estimate of 6L and Insurance company approved 2 L only.
I visited bodyshop again and had discussion how is it possible that Insurance approving only 2L, they prepaired the estimate again and its now 3.25 L. Its yet pending for approval by Insurance company. they also mentioned I can sell this in 70k in this condition while the market value was 3L before accident.


insurance company however denied the probability of total loss even if the estimate approved by surveyor exceeeds IDV. They mentioned vehicle can be covered under total loss only if insurance company share in repair estimate exceeds 75% of IDV.


At present I am clueless as what to do as they are only offering cash 80k if I decide to get my car repaired elsewhere and out of that amount I will need to settle bodyshop bill too.


timely suggestions from experts or from someone who had been in similar situation will be appreciated as it might help me in reducing my loss.

Try to negotiate hard with the insurance company. The negotiations depends on various factors -
1- Who is at fault
2- Evidence available about accident
3- Car condition after accident (repairable/non repairable)
4- Garage Estimate (more than or equal to IDV)
5- Surveyor's report (observations made by the surveyor)

Sometime it's hard to get the entire amount/IDV - because there are so many riders etc. So always Try & negotiate - ask for detailed calculations before agreeing on anything etc.

Read More - First & Second

There cannot be any negotiation with either the surveyor or the Insurer. If the aggregate cost of retrieval of the vehicle either eqal to or exceeding 75% of the IDV, the claim must be settled on Constructive Total Loss Basis. The market value of the said model of vehicle has nothing to do with claim, IDV of the vehicle is the market value through out the policy period and the Insurer has no right whatsoever to deny the same.

IDV is maximum sum assured that one would receive as a compensation for total loss, and if you have not bought the zero depreciation add-on then it's IDV will decrease over time. That is why you will not get the full money.