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gurpreet (aa)     10 July 2010

Auto loan

I hv a small commercial vehicle with name of my father. it was insured by United India Insurance & financed with a bank. 

but the said vehicle met an accident some days before, i informed to insurance company & do all initial formalities like FIR, Spot survey etc. Through dealer i provided estimate of repair. Insurance surveyer Verbally saying that do repair your vehicle but dealer asking for written letter from insurance company.

This vehicle is financed with bank & i m not able to pay dealer in advance and also not able to pay installments to bank till then my vehicle is under non running condition.

 

pls help me what i can do ? 



Learning

 2 Replies

mahendrakumar (marketing)     10 July 2010

it all depends upon the policy conditions.

in some such policies,you can entrust the job of repairs to authorised workshops and the payment s paid direct to the workshop.

however in majority of the cases the concerned individuals incurr the expenses and reimbursed to the extent eligible under policy conditions.

Satya Narayana Palukuru (Advocates & Mediators.)     10 July 2010

If insurence is there you can cliam with the help of bank

in the absence you can pay for repiars and start running the vehicle.

please rember if u are regular in instaments after verifiing track record

bankers will come forward to finance a new vehicle.

 when This is a continous process avialable for long why should you stop

with this auto Only?

 


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