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June 20, 2012
My insurance is comprehensive. my scooter met with an accident. i and the other party we both compromised.A DDr was filed by local police post.In DDR we both parties have agreed to compromise without any legal action. Now i asked my insurance company
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for my scooter damage claim.igave all documents ( claim form , D/L , R.C and also copy of DDR with states that both parties compromised and dont want any legal case against each other). Now the insurance company is asking me to submit an affidavit and write that there was no third party damage involved in future if any third party claim arises i will be responsible and i will pay all of it. This is nonsense as i have comprehensive insurance. how can i guarantee that the other party will not lodge a claim to my insurance company. Although it is self evident since to claim for third party damage from other party's insurance company , there
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must be an FIR.since we have agreed not to go legal , there is no chance of FIR.So the question that whether they will claim for third party damage in future is invalid. But still why would i take guarantee for that.if my insurance company has to make sure that the third party does not claim for any damages its their headache.i want my claim. So please guide me is it justified to give insurance company this affidavit.i am not foresee anything that will happen in future.I can only provide DDR Copy.how can i take guarantee for the other party. Reply to this
Response(s) MIC Staff
June 22, 2012 : Answered in 2 Days
Hi, If you can come to an understanding with the other party to avoid legal and administrative hassles, then your insurance company also has the option to do the same. The cost to repair your vehicle should ideally be paid by the insurance company of other party. And the cost of repairs for the other party’s vehicle should be paid by your insurance company. But both insurance companies want
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to take an approach which is economic and effective. So your insurance company will agree to pay for your damages under the ‘Own damage’ policy and the other insurance company will pay for damages of other party (if applicable). But your insurance company will do this provided it does not have to pay for third party claim by the other party. You cannot subject your insurance company to double loss. So your options are – 1) Give an undertaking and get your loss reimbursed under own damage from your insurance company 2) File a third party claim with the insurance company of other party and seek compensation for your damages I am providing this extract from the Motor Insurance Act for your reading - "Subrogation is the transfer of rights from the insured to the insurer on payment of loss under the policy. When the loss or damage to the vehicle is caused by the negligence of another person the insured has legal rights to claim against such person. These rights pass to the insurers on payment to the insured. Motor policies provide a condition for subrogation before the payment of the claim. In practice subrogation is modified by Knock for Knock agreement amongst insurers. According to this agreement when there is a collision between two vehicles, one of, which is responsible for the accident the OD Claim (under policy B) shall be paid by insurer of the vehicle." Hope this resolves your query. Please do feel free to get back to us for any further query. . Reply to this Did you find this useful?
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