whose IDV is only 2,77,000, which is much lesser than the market value.
Why do you think so?
The showroom peple surveyed and estimated 3.25 lakhs as repair cost which is utter non sense as the vehicle is not fully damaged and there is no harm to engine. I actually hit the rear wheel of the tractor. So there is not much damage.
What is the point of view of official surveyor of insurance company?
And the insurance4 surveyor recomended to go for Total loss . Do i have to Surrender my Rc book to them?If so, The vehicle is under hypothication. What should be done?
You need to give RC, so that they take a photocopy of it. No need to surrender.
If your vehicle is under hypothication, inform the bank (under whos name it is hypothicated) about the accident.