ASHOK KUMAR Vs. NATIONAL INSURANCE CO LTD

JUDGEMENT

(1.) This complaint under Sec.12 has been filed against National Insurance Co. by Ashok Kumar complainant praying for a claim of Rs.5,50,000/- towards the loss incurred by him coupled with Rs.20,000/- as damages for mental agony, Rs.5,000/- for taking the Surveyor and making incurring expenses for removal of the truck and Rs.10,000/- per month as loss caused to him due to non-settlement of claim at an early date.

(2.) Facts leading to this complaint are that the complainant purchased a truck bearing registration No. RJ 20/g 2432 registered with Registration Authority at Kota on 1.11.1996. This vehicle was 1996 model and had been purchased by him after obtaining finance from Alpic Finance Ltd. , New Delhi. The truck was got insured on 28.10.1996 and the period covered by the insurance was 28.10.1996 to 27.10.1997. Complainant had paid Rs.16,909/- as premium and the estimated value of the truck including the accessories as mentioned in the cover note was Rs.8,50,000/-. As the ill-luck would have it, within ten days of registration the truck while on way from Kota to Udaipur was hit by an another truck bearing No. M. P.09/k 6491 whose driver it was mentioned in the complaint was driving the truck rashly and negligently. A report of the incident had been lodged at police station Mandal, Distt. Bhilwara. Complainant reported the accident to the Insurance Company who appointed the Surveyor. According to the Surveyor the market price of the salvage was under Rs.1,80,000/- as the truck had been damaged very badly. When this amount of salvage was found to be on the lower side complainant by making the efforts sold the salvage in the market for the sum of Rs.3,00,000/- as he had to pay Rs.200/- per day for keeping the truck in garrage which he had hired and was also paying Rs.20,000/- per month as instalments to the finance company. Surveyor also later on assessed the cost of the salvage at Rs.3,00,000/- Complainant, therefore, claimed Rs.5,50,000/- from the Insurance Company. Insurance Company did not settle the claim at an early date and, therefore, the complainant filed the complaint on 5.6.1997.

(3.) Reply was submitted and the Insurance Company came with a case that according to its Surveyor the loss was assessed at Rs.7,74,500/- and minus reduction of Rs.3,00,000/- as expected salvage value. The complainant was offered a sum of Rs.4,73,000/- as total loss net of salvage. Insurance Company said that it is always ready and willing to pay Rs.4,73,000/- which the complainant is not aggreeable to receive as he wants the total loss calculated at Rs.8,50,000/-.