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Insurance Article

Read This if Your Vehicle Had Suffered Damage in The Aero India Parking Lot Fire

February 27 2019

Insurance companies will reimburse the owners whose cars were gutted during the Aero India parking lot fire

In a freakish accident on 23rd February 2019, around 300 cars parked outside the Aero India show venue in Bengaluru were gutted after they caught fire from the dry grass, possibly arising due to an unextinguished cigarette butt or short-circuit in one of the cars. If your vehicle is among those that were damaged during the accident, you can claim a reimbursement from your insurer for the repair or replacement of your vehicle if you had a comprehensive car insurance plan.

A comprehensive car insurance plan covers the car against any sort of damages or mishaps up to the Insured Declared Value or IDV of the car. This means that the insurer is liable to bear full expenses for the repairment of your car or pay the entire IDV amount to you in case your vehicle is gutted and damaged beyond repair in the Aero India Parking lot fire. The IDV is calculated every year by subtracting the depreciation value from the sale price of the vehicle.

In order to file a claim for your damaged car, you need to fill up the claim form and attach a copy of the FIR (First Information Report), mentioning the losses incurred on your vehicle during the fire. The regional head of a private motor insurance company stated that they have received 17 claim requests from the Aero India incident so far and have deployed a team at the accident site to inspect the damaged vehicles and process the claims.

However, in case you don’t have a comprehensive insurance cover for your car and you cannot file a claim with the insurer, you can approach the event organisers for the remuneration of your losses. It means that you’ll have to wait for the results of the inquiry conducted in the entire incident and subsequent claim settlement by the organisers.

*Source:Live Mint

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