Insurance Companies yet to settle claims of car owners

After four months of floods, car owners are still knocking the doors of insurance companies to claim the insurance of their flood-damaged vehicles.
The car owners alleged that the insurance companies are dilly-dallying in settling the insurance claims of their cars. High Court has repeatedly issued notices to the insurance companies asking them to pay for the damages.
“When I approached New India Assurance Co. Ltd. for the settlement of the claim of the damages to my car, they assured to pay for total loss of the vehicle. Later, a surveyor of the company said that I can keep the vehicle and they will pay me 60 percent of the value of the car. Now even after a gap of four months I am yet to receive any payment,” said Owais Shafi, a resident of Tengpora.
He alleged that the company keeps on changing the settlement policies for car owners to suit their interests. “They are now asking me to return the car for making a total loss case for the vehicle. This is violation of insurance laws.”
He said the insurance company has come up with different requirement asking him to get RC of the vehicle cancelled.
“Earlier, it was already settled with surveyor for settlement ranging from 60 percent to 70 percent of the vehicle and since then we are waiting for cheques,” shafi added.
The affected car owners said the insurance company and the car dealers are making them to move from pillar to post for these claims.
“I have been troubled to the extent that I regret of having purchased a car. My car has been kept in the workshop which would have got further damaged. The car has not been even washed and it has only gathered rust. Initially they told me that they would pay me Rs 2.92 lakh and will also return the vehicle but now they are backing out on their words,” said another car owner Bashir Dada.
The affected car owners also took out protest demonstration outside the office of New India Assurance at Sonwar against denying them insurance claims in time. They also protested against car dealers K C Hyundai, Ford and others.
Managing Director of Auto Wings Ford Ashiq Hussain said that they have completed all their formalities and it was only insurance company which was cheating on the car owners.
“The insurance company has also asked us not to repair the cars as owners would be taking vehicles back along with 70 percent of the value of the car,” said Hussain.
Senior Divisional Manager of New India Assurance Vijay K Anand said the estimated loss of upto Rs 50,000 was given away to the car owners on spot
He said as per decision taken by all the four public sector companies in various meetings held in Srinagar attended by general managers and divisional managers, it was decided to settle the claims which qualified loss on net of salvage basis January 14.
“New India Assurance Company had changed its policies because of the resentment by claimants and car dealers due to which company has restored to its own policy on the basis of net of salvage for all the insurance claims on the basis of reports of surveyors upto Jan 14, 2015.”

Cureted From :  Insurance Companies yet to settle claims of car owners – risingkashmir

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