Car & Bike Insurance Claims: From Rejection to Full Settlement
IDV is what the insurer pays on total loss - the vehicle's current market value, not its purchase price. IDV disputes are among the most common motor complaints that reach the Ombudsman.
The 15-day rule
IRDAI requires settlement within 15 days of the complete surveyor report. Delays beyond that without cause trigger interest liability for the insurer - keep the clock your ally.
Surveyor interaction
The insurer's surveyor determines your payout. Be present, ask questions, keep copies of everything, and contest an undervalued assessment in writing - surveyor reports are recommendations, not final verdicts.
Three claim types
Third-party claims cover damage you cause to others; own-damage claims cover your vehicle from accident, theft, fire, or calamity; total-loss claims apply when the vehicle is beyond economic repair or stolen beyond 90 days.