How much excess amount they have mentioned is it 1% or 2% or some fixed amount. check that was this will be mandatory deducted when any claim from your side
What you mean by "excess amount", I do not see any mention of excess amount in the policy document. Please help me know what is that "excess amount" implicate ?
Excess amount (or claim charges) are deducted from the amount of insurance settled/payable. The same, as I understand, is Rs.500 for cars up to 1500 CC & Rs.1000 for cars above 1500 CC.
It has been rightly mentioned by Pankaj about excess.
Its not fixed , it has to be negotiated before agreeing for the premium. It can go upto any amount.
So one has to be carefull about this.
I think this excess/claim charges are fixed. I don't know if they can be reduced but cannot be increased. The variation is on account of salvage charges in % terms - generally 5% - and is not negotiable, I suppose.
Hey Suman,
Sorry to interupt you. But you can call CarWale.com. They can also help you with the same. 022 67398888 You can speak to Mr. Sameer for the same.
hi all,
I called my insurance provider and asked about the excess amt (to clear my query/confusion about it), they say its a fixed amt Rs.500/- that they deduct from the total claim amt on account of surveyor charges.
Good... thanks for sharing this information about excess amount
Jay
then its perfectly ok.
hi..
Thanks for your posting..
Can you explain it briefly..
...........
You can be fined for this and its risky in case your car is involved in accident. You will not get any claim and in case any third party is involved in accident then all the claims you will have to settle.
Always advisable to have a valid insurance cover and that too comprehensive
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