Page 415 - Motor Insurance Ebook IC 72

Guide for Motor Insurance

Illustration: Value FinalAmount
Payable
Type of Cost Payable
8500
1. Damage to Front Door/Rear Door 8000
(Payable less depreciation) 1250
Cost of Colouring of front/rear door 2000 1050
Less 15% for age of vehicle(Say the 10000 --
vehicle is 2 years Old) 400
Rs. 10,000 X 15% = Rs.1500/- 1500
2000 11200
2. Damage to Bumpers, rubber,nylon 500
plastic parts batteries, air bags, 500 500
Cost of Colouring the bumper 2500 10200
(Payable less depreciation of 50%) 1250
Rs.2500 x 50% = Rs.1250/- 1500

3. Damage to Fibre Glass 450
(Payable less depreciation of 30%) 2000
Rs.1500 x 30% = Rs.450/-

4. Damage to Front Glass
(Parts made of glass is not payable)

5. Any other repair charges,
mechanical charges like denting,
painting/colouring of other part
( Don't apply depreciation)
Say Rs.400 is the mechanical charges

Total Amount of Loss

5. Less Salvage

6. Less Excess (Depends on type of
vehicle - See the schedule)
Final Claim Payable

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