date for the insurance claim and to settle the claim,
as constructive total loss, because the repair cost of vehicle
was more than ... policy period without any further depreciation for
the purpose of total loss/constructive total loss claims. As per
terms of policy, OP has to consider
value of the insured vehicle, to bring the loss within the ambit of total loss or constructive total loss. The insured vehicle was surveyed, assessed ... total loss, is baseless and not correct. Total loss means the vehicle is not repairable and Constructive total loss means the vehicle can be repaired
entitled to the total IDV and this is a
case of constructive total loss. As the insurance company has
now joined the proceedings, their point ... policy period without any further depreciation for the purpose of total
loss/constructive total loss claims. As per terms of policy, OP has to
consider
treated as constructive total loss. The case of respondent/complainant to treat the loss as constructive total loss is to be upheld. The approved surveyor ... insured vehicle would suggest that the said loss is to be assessed on total loss/constructive total loss basis. The Forum below can be justified
cost of the vehicle, it was to be declared as total constructive loss. On 12.06.2020, the vehicle in question met with an accident, information whereof ... surveyor has come to the conclusion that it was a total loss [TL/constructive Total Loss (CTL)] case because the expenditure of repairs, if carried
amount of the loss or damage and the
liability of the company shall not exceed:
(a)
for total loss/constructive total loss of the vehicle ... value of the Wreck.
(b)
For partial losses i.e. other that total loss/constructive total loss of the
vehicle-actual and reasonable cost
exceeded the insured sum of
Rs. 45 lacs. In case of constructive
loss the liability the O.P. was only to
the extent ... conclusive for the purpose of
determining whether there has been a constructive total loss.
30. Unvalued policy.-
An unvalued policy is a policy which does
amount of the loss or damage and the liability of the Company shall not exceed:-
For total loss/constructive total loss of the vehicle ... less the value of the wreck.
For partial losses, i.e. losses other than Total Loss/Constructive Total Loss of the vehicle actual and reasonable
depreciation as shown below is
applicable for the purpose of Total Loss/Constructive Total Loss
(TL/CTL) claims only:
First Appeal ... Total Loss/Constructive
Total Loss cases.
19. In the present case, the vehicle in dispute has not suffered
total loss/constructive total loss
cash the amount of loss or
damage but the liability of the company shall not exceed:
(a) for total loss/constructive total loss ... value of the work.
(b) For partial losses, i.e. losses other than Total Loss
Constructive Total Loss of the vehicle- actual and
reasonable costs
