dear friends ,
Is it possible to insure a 1998 model car ? and if it is possible any one knows how they work out the claims,
For example:1998 honda may worth upto 6lakhs , and after two years of buyin the car got theft , as you know In our country old car prices wont depriciate very much so even after 2 years of usage it might depriciate 50 thousand to 1 lakh ( rough Idea ) so in that case how will the insuance company process the claim and what will the amount comming back to Claiment ,
Second question is a suzuki Mehran bought in 2008 and was Insured The car got missing in 2009 , suppose the car was bought for 4lakhs in 2008 but instead of depriciating the price is gone up . In this case how will the insurance company settle the case.
Regards ,