Insurance is like a spare tyre. You may not require it, but not having one is not an option.
  • No Insurance for Loss of Vehicle Due to Negligence

    No Insurance for Loss of Vehicle Due to Negligence

    Incident

    Mr. Jamu Pandey filed a claim for vehicle insurance as his truck was stolen on October 25th, 2013. He had a valid insurance policy with SBI General Insurance which was dated December 14, 2012 to December 13, 2013. His driver Ram Nandan had left the keys in the truck which was then left unattended for more than an hour. Pandey had stated that he was entitled to the insurance cover as per his policy, claiming Rs. 6.2 lakhs from SBI. But SBI opposed with a statement that the vehicle was stolen due to gross negligence on the part of the owner. The court ruled in favor of the insurance company as any damage or theft caused by negligence cannot be compensated. Mr. Pandey was guilty of breaching the terms and conditions of the vehicle insurance policy. There were also other discrepancies in the plaint submitted by Pandey. Efforts to cover up negligence will also not merit any compensation.

    What we can learn

    When applying for insurance and buying a policy, read the fine print. The devil lies in the details. You should be aware of all the information provided in the policy. The “*” is more important than the bold print. The rules exist to protect the insurance companies from fraudulent claims. In some cases, policyholders stand to benefit more from insurance claims than by selling the vehicle. To avoid cases like this where the company is looted for gain, courts can investigate further and declare proper judgement. You should take care to keep your car safe or you may lose out on your car and your insurance as well.

  • reTH65gcmBgCJ7k - pingdom check string.
    reTH65gcmBgCJ7k - pingdom check string.
    This Page is BLOCKED as it is using Iframes.