It might sometimes happen that damage due to an accident appears to be minor and not worth lodging an insurance claim for. However, the real extent of damage may be realised only after the vehicle is opened for inspection. In such a case, the insurance company can refuse to settle a claim as the surveyor did not get the opportunity to inspect the condition of the vehicle when the accident occurred. Here is a case of how a consumer had to suffer a loss due to his own hasty actions.
Ghanshyam Maurya had purchased an Escorts tractor from Tractor Dealer Farm Equipment and Machinery. It was covered under a one-year warranty from September 10, 1992, its purchase date. The tractor met with an accident. It was then taken to the authorised repair workshop and an estimate for repairs was sought. The insurance company was also intimated.
India will be superpower by 2047, but not high-income economy: Martin Wolf
Read More