As I was changing the flat tyre of my brand new car by parking it on the road side, another car suddenly appeared and banged straight into my car. Should I recover the cost of repairs from the defaulting car owner or claim the loss from my insurers?
Ram Saran, Noida
If you make a claim under your motor insurance policy, you lose in two ways – one, you lose on deduction on account of depreciation (even if your car is brand new, the rubber and plastic parts requiring replacement would attract a depreciation to the tune of 50 per cent of their respective cost) and secondly, you could be losing on your no claim bonus. In case you have taken cover that also retains any depreciation, you won’t lose much. Due to these reasons, it would be ideal to recover the loss from the defaulting car owner. If he does not agree to bear the entire loss, you should at the least negotiate with him to bear the financial value loss on account of depreciation and no claims bonus.
