Claim amount paid - subject to Excess and Depreciation!

[vinit]

I have Maruti Wagon R. I had a small accident inside the residential society when I was parking my car [I am new driver :-(]. I had called up my car dealer and told him about the accident. He had forwarded the call to their Insurance and claims department. Insurance and claims department people told me that not the full amount would be paid. It would be paid, after deducting the compulsory excess and 50% would be paid in case of plastic parts. Is it so?

[Expert]

Vinit,

You will need to pay for the following costs which insurance will not cover:

• In case of replacement of parts, depreciation is to be born by you. Depreciation of rubber/plastic parts, battery, tyre etc. is charged at the rate of 50%. Depreciation for Metal parts/ electrical parts depends upon the age of car as mentioned in your insurance policy.
• Compulsory excess of Rs. 500/- or RS. 1000/- as mentioned in your policy
• Any extra job done (i.e. not related to the accident) by the workshop on your instructions, e.g. maintenance-related servicing.
• Cost of towing in excess of Rs. 1500 will be borne by you.

If your claim is cashless than the cost payable by insurance co. will not be charged to you and will be settled directly between the workshop and the insurance company.