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Oriental Car Insurance Review India – This is the story of the Oriental Insurance claim regarding our 13 year old Honda City that fell into a tree during the Bangalore rains last month.
A 13-year-old car was damaged after crashing into a tree. Maintenance cost Rs.1.34L. The IDV of the car is 1.62L. The insurance payable is Rs 91,000.
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“An insured vehicle will be treated as a constructive loss if the total cost of restoring and/or repairing the vehicle in accordance with the terms of the policy exceeds 75% of the IDV of the vehicle.”
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However, Oriental Insurance says that since their liability or insurance does not exceed 75% of the vehicle’s IDV, the claim will be a repair arrangement.
In the first week of June, I was getting used to driving to work when in the evening a very strong wind started to fall. I already started thinking that the car will be damaged by the plants as my office is in one of the few places in Bangalore that has green cover. When I drove to the post office tonight, this is what I saw:
Fortunately, the car was in drivable condition and I drove it home. Then begins the process of finding a fixer. Both private garages, both say it’s best to leave it at an authorized Honda service center. So I contacted South Honda for advice – the same place we bought our Honda Jazz from. I sent them pictures on WhatsApp and they came back with a quote of 1, 50, 000 or more – which is what a particular garage told me to expect. I then checked out Magnum Honda as they had good reviews on their Google store listing. I sent them the same picture and they came back with Rs 58,000 based on the picture I sent on WhatsApp. I told him I would be going down on June 12th to fix the car.
I left the car for repair on the 12th and the service advisor told me to expect a bill of around Rs 1,50,000 for the entire repair. We have also started the insurance claim process now. The IDV value of the car was Rs.1,62,000. Insurance companies say they need a detailed estimate before valuing the car. I requested Magnum Honda and they sent me a detailed estimate costing Rs 1, 59,000 for the repair.
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At this stage, I collect since maintenance cost IDV = Rs. 1, 21, 500 is more than 75%, so the claim will be settled on the total loss.
The surveyor visited the service center and informed us that the repair estimate is Rs 1,34,000 and the insurance is Rs 80,000 to 90,000. IDV, the car will be repaired.
I read the total loss clause and knew it was based on the total cost of repairing the car without insurance.
I called Oriental Insurance customer care – who tried to tell me that the IDV will be discounted because it is an old car. I told them they are lying because the terms and conditions clearly state that IDV will not be reduced. Then he asked me to email Oriental [email protected]. I did it quickly and waited a few days for a reply. We met Mr. Raghavendra claims office to understand what is going on. He told us that if we look at the terms and conditions, we should go the legal route. As my email to [email protected] went unanswered, I contacted the IRDA Policyholder Helpline who asked me to contact the Regional Manager – Ms. Sunita Gupta, whose office is on Abasi Road. I have also complained about the PG portal so far.
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I emailed him detailing the problem the day before my trip so he could get the details. The next morning I went with my brother. He said they ignored my emails and complaints as the politician’s name and mine do not match. Fair discussion, I leave.
Mr. Joining us in this conversation is Raghavendra, who we met earlier. When we asked why it was not a general loss claim, he told us that they were following what was reported to the corporate office. But he would look at our case and get back to us at the end of the day – it was a Wednesday. I waited until Friday to email and talk to them – still no response.
The car had already been at the service center for a month and was collecting daily parking fees.
On Monday, we received information that the claim will be settled on a remedial basis and not on a general loss basis. The next day, we took up an issue on IRDA’s Grievance Mechanism – igms.irda.gov.in. Note that we want all communications to be via email and not physically sent. We have also got the email IDs of several top executives of Oriental Insurance: https://orientalinsurance.org.in/web…ior-executives and sent them to all hoping for something positive.
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As of Wednesday – no response. The list of senior officials except one said that the DGM of the Residential Road Branch has resigned, one of them, Mr. Ashok Jain is now DGM. He was kind enough to give me his email id. We have also forwarded the same email to Mr. Ashok Jain.
In the afternoon, we received a response to our IGMS complaint from Shri Sivakumar and also a response from Shri Ashok Jain, DGM, Local Roads Branch:
We have sent the court decision in their previous case (https://indiankanoon.org/doc/180217210/) where it clearly states that the cost of repair should be considered as settlement of total damages. But it seems that all the people of the East are continuing their lies. IRDAO also seems to be toothless in this regard What is our option other than the long and difficult legal process?
Needless to say, if you are from Bangalore – please do not buy your insurance from Oriental Insurance. They don’t respect the terms and use scare tactics to try to keep people away.
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I have also attached a copy of IRDA Policy Word and Oriental terms and conditions in case anyone needs it in future.
We are very saddened to find out about the car and also saddened by the way IRDA is handling this matter as a silent spectator of this incident. There is nothing more to recommend as you have done all your due diligence on your end. There are two things you can do:
1) Contact the user site and submit an issue. Provide all the documents you have. Or hire legal services to pursue it.
At the same time, if parking fees are eating into your income, think of other places to park your car. I don’t know if exposing the car to a busy intersection will help Oriental Insurance’s indifference, but it’s worth a try.
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I am already trying to get help from several friends in the insurance department to resolve this issue.
The decision to carry out damage or general repairs is based on the surveyor’s assessment and not on the estimate provided by the garage. In any estimate given by a service center, the insurance company always follows the survey estimate which includes the depreciation. I’m afraid not much can be done here. Only you can decide here which method the surveyor uses to get the estimate, but it is usually based on the recorded habits and percentage of depreciation.
The decision to carry out damage or general repairs is based on the surveyor’s assessment and not on the estimate provided by the garage.
Yes, by estimate, I meant the estimated maintenance cost. Which was 1.59L assessment given by the service center as against Rs.1.34L.
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The argument is that the insurance company does not consider the estimated repair cost in determining the total loss, but the amount they will pay beyond the estimated repair cost, which in this case is Rs. 91,000
Does that estimate include depreciation? I think that’s the general estimate. They calculate the depreciation and arrive at the price that is struck on the plastic part and then paid by the company. If that 1.34 L is included in the reduction, you have a problem. It is basically based on their responsibility and not yours
