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    Annexure 2 - Consent Letter of Insured

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    rapworld44
    The document is an agreement between Vikas Gulati and IFFCO-TOKIO General Insurance regarding settlement of an insurance claim for Mr. Gulati's vehicle that was involved in an accident. It states that the vehicle will be considered a total loss, less the salvage value of Rs. 198,000. Mr. Gulati agrees to accept a payment of Rs. 223,000 from the insurer and surrender the vehicle's salvage and documents to the insurer. He also agrees not to make any further claims related to the vehicle.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Annexure 2 - Consent Letter of Insured

    Uploaded by

    rapworld44
    3K views1 page
    The document is an agreement between Vikas Gulati and IFFCO-TOKIO General Insurance regarding settlement of an insurance claim for Mr. Gulati's vehicle that was involved in an accident. It states that the vehicle will be considered a total loss, less the salvage value of Rs. 198,000. Mr. Gulati agrees to accept a payment of Rs. 223,000 from the insurer and surrender the vehicle's salvage and documents to the insurer. He also agrees not to make any further claims related to the vehicle.

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    Annexure 2 - Consent Letter of Insured.docx

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    The document is an agreement between Vikas Gulati and IFFCO-TOKIO General Insurance regarding settlement of an insurance claim for Mr. Gulati's vehicle that was involved in an accident. It states that the vehicle will be considered a total loss, less the salvage value of Rs. 198,000. Mr. Gulati agrees to accept a payment of Rs. 223,000 from the insurer and surrender the vehicle's salvage and documents to the insurer. He also agrees not to make any further claims related to the vehicle.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    3K views1 page

    Annexure 2 - Consent Letter of Insured

    Uploaded by

    rapworld44
    The document is an agreement between Vikas Gulati and IFFCO-TOKIO General Insurance regarding settlement of an insurance claim for Mr. Gulati's vehicle that was involved in an accident. It states that the vehicle will be considered a total loss, less the salvage value of Rs. 198,000. Mr. Gulati agrees to accept a payment of Rs. 223,000 from the insurer and surrender the vehicle's salvage and documents to the insurer. He also agrees not to make any further claims related to the vehicle.

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    © All Rights Reserved
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    ANNEXURE “2”

    To be typed on Rs 100/- non judicial stamp paper duly notarized.

    To
    IFFCO-TOKIO General Insurance Co. Ltd.,
    Address,

    Ref: Vehicle MakeHonda Jazz 1.5V MT bearing Regd. No. DL1CU9888 Claim No.
    1-1F2Y1EWI

    Dear Sir,

    I Vikas Gulati, S/o, Shri Devendra Gulati residing at


    __________________________________________________________________
    (hereinafter referred to as “The Insured”), hereby solemnly affirm and state as follows:

     The Insured is the registered owner of a motor vehicle bearing Registration No.
    DL1CU9888, Engine Number 11504666 and Chassis Number 4001765 (hereinafter
    referred to as “the said motor vehicle”) insured with IFFCO-TOKIO General Insurance
    Company Limited (“the Insurer”) under the Policy of Motor Insurance / Cover Note
    bearing Number ME145411 for a period of 12 months from 30/05/2020 to 29/05/2021.

     The said motor vehicle met with an accident on 03/06/2020, claim for which is registered
    with the Insurer.

     The Insured hereby agrees to and accepts settlement of the claim on “TOTAL LOSS/ NET
    OF SALVAGE” basis for Rs. 2,23,000.00 as full and final settlement of own damage claim
    after deduction of Policy excess of Rs. 1000.00 and Salvage Value of Rs. 1,98,000.00.

     The Insured authorize the Insurers to facilitate in obtaining the best salvage value
    through the resources available and the salvage shall be handed over by the Insured to
    the salvage buyer. It is hereby understood that this aforesaid transaction between the
    Insured and the salvage buyer is being facilitated by Insurer solely upon the Insured’s
    request.

     The Insured accepts to hand over possession of the salvage to the salvage buyer with
    clear title and will clear all outstanding dues of the workshop including estimation /
    garaging charges (if any). The Insured will accept the salvage value directly from the
    salvage buyer.

     Upon sale of salvage, the Insured will disclose complete details of Salvage Value realised
    along with Agreement to sell and KYC of the Salvage Buyer, to the insurers.

     The Insured hereby agrees to surrender insurance certificate and policy to Insurer for
    necessary cancellation without consideration of any refund of premium for the unexpired
    period and the Insured hereby undertakes and affirms that the Insured would not
    claim/demand any further amounts pertaining to the said motor vehicle.

     The Insured makes the aforesaid declarations and statements solemnly and sincerely
    believing the same to be true and knowing fully well that on the faith and strength
    thereof, the Insurer has agreed to make the Total Loss/Net ofSalvage settlement for the
    said motor vehicle as per policy terms and conditions.

    Signature of Insured Signature of Witness

    Address ___________ 1) ____________________


    __________________
    __________________ 2) ____________________

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