No response from IRDA /Insurance ombudsman
I have sent the below mentioned mail to IRDA and Insurance ombudsman but have not received any response from them.
Please let me know if any thing can be done to draw attention of IRDA/Ombudsman.
Subject: Complaint of Low Settlement amount against motor insurance policy No 3001/106035065/01/000 ( ICICI lombard )
Dear Sir,
This is reference to the said policy no of my Vehicle where the insurance IDV value of the car is 139998/- and the additional CNG kit insurance value of Rs, 20000/- . Total insurance value is 159998/- .
The said car is burnt due to unknown reason and the cost of repairing for the is coming around one lac sixty thousand ( Rs. 1,60,000/-) , the cost of repairing of CNG will be extra for which no estimate was given by the service center. Since the CNG kit to be repaired separately.
Due to this high repairing cost, I opted for not to repair and get the car settle on total loss basis. Once I convey my opinion to the inspector of the said insurance firm they are only willing to pay Rs. 80000/- ( eighty thousand) and which is very low as compared to the insured value of the vehicle. Further I requested them and they agreed to give me back the damaged car or Rs. 12000/- additionally at letter date when the car is sold to other party.
Further asked for the clarification on additional insurance of Rs 20000/- for the CNG and the compensation against the same they denied to pay any thing extra .
Please let me know whether the said insurance company is paying correct amount or not .
I will be highly obliged if you kindly send your advice quickly other wise please help me to get the adequate compensation at the earliest.
Please acknowledge the receipt of this mail. more
Please let me know if any thing can be done to draw attention of IRDA/Ombudsman.
Subject: Complaint of Low Settlement amount against motor insurance policy No 3001/106035065/01/000 ( ICICI lombard )
Dear Sir,
This is reference to the said policy no of my Vehicle where the insurance IDV value of the car is 139998/- and the additional CNG kit insurance value of Rs, 20000/- . Total insurance value is 159998/- .
The said car is burnt due to unknown reason and the cost of repairing for the is coming around one lac sixty thousand ( Rs. 1,60,000/-) , the cost of repairing of CNG will be extra for which no estimate was given by the service center. Since the CNG kit to be repaired separately.
Due to this high repairing cost, I opted for not to repair and get the car settle on total loss basis. Once I convey my opinion to the inspector of the said insurance firm they are only willing to pay Rs. 80000/- ( eighty thousand) and which is very low as compared to the insured value of the vehicle. Further I requested them and they agreed to give me back the damaged car or Rs. 12000/- additionally at letter date when the car is sold to other party.
Further asked for the clarification on additional insurance of Rs 20000/- for the CNG and the compensation against the same they denied to pay any thing extra .
Please let me know whether the said insurance company is paying correct amount or not .
I will be highly obliged if you kindly send your advice quickly other wise please help me to get the adequate compensation at the earliest.
Please acknowledge the receipt of this mail. more
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View all 18 comments Below 18 comments
The first and foremost is the Modification of the vehicle and its legality. If you are in a position to establish the same you are the winner, if not then the looser. Pl. observe your documents carefully including the Policy terms and conditions. If the same are abided, you are having a fit case to contest otherwise NOT. more
Apr 07
I feel let the complaint be disputed with the Insurer and the Insurer need to give justification for less claim value. Usually there could be a difference in value at which the car has been insured with that of market value. IDV depends upon the model of the vehicle etc and the market value depends upon the condition of the vehicle. It is for the insured to declare or agree with the value of the vehicle for the purpose of IDV at the time of renewal of the insurance policy. In case the Insurer fails to justify the less value of claim, you can submit your complaint (not an application seeking advise) to Insurance Ombudsman. Dissatisfied with the redressal from Insurance Ombudsman, one can file a complaint with District Consumer Forum. more
Mar 28
The procedure followed by Insurance Ombudsman is that, you have to first lodge a formal complaint with the Grievance cell of Insurer. After receiving their formal reply and not being satisfied with their reply/settlement, you have to send hard copy of your complaint to Ombudsman under whose jurisdiction the case falls, along with copy of Insurance policy, copy of your complaint and the reply of Insurer. If you do not receive reply from Ombudsman in 6 weeks, file a case to Consumer forum. more
Mar 25
The IDV value must be settled by the insurance company for the total loss of the vehicle.Do not worry about the CNG kit as the surveyor would have taken all the damages of your car at the time of survey and he would have given this in his assessment.At first you write a letter about the non settlement to the GRIEVANCE Dept of ICCI Lombard insurance company by a registered letter. Wait for 30 days. If you do not get any reply , or positive answer then you can approach the IRDA GRIEVANCE OR ombudsman K.AARONOC aaronic007@gmail.com more
Mar 24
