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Question
My 4 year old vehicle (less than 5 years was stolen and the claim formalities have been complied with including police report, etc. What is the amount I will get from the insurance company - is it the IDV amount as mentioned in the current policy or is it less?
By Ashwin Naimpally 09 September 2008
Answers:

hi ashwin. sorry you lost your car. actually this is a little tricky.insurance co are know to hike the IDV of the vehicle during the renewal of the policy.so when it comes to settling a full claim like in your case , they start talking of the pro-rata basis, which will be slightly less than the idv. if you have the renewal notice with you in which the insurance co. calculates the idv for you , you stand a chance to argue for the full idv amount. they normally escape by saying that it was on your insistance that the idv was hiked.
but all said & done , they will have it their way.

Answer by Munaf Patel 09 September 2008

U will be 60% of the amount of the car from the insurance company depending on the value of ur car.

Answer by Harish 09 September 2008
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