IRDAI Surveyor Motor (S-06) key terms

The legal and pecuniary relationship a person has with the insured vehicle such that they benefit from its continued existence and suffer loss if it is damaged. Required at inception and at the time of loss for a valid motor claim.

The mutual duty of the proposer and insurer to disclose all material facts fully and truthfully. Breach by concealment or misrepresentation can allow the insurer to avoid the policy and reject claims.

Any information that would influence a prudent insurer's decision on acceptance, rating, or terms of a motor policy. Examples include claims history, vehicle modifications, and the regular driver's details.

Failure by the insured to reveal a material fact when proposing for or renewing cover, whether deliberate or inadvertent. It may entitle the insurer to cancel the policy or repudiate a related claim.

The principle that insurance restores the insured financially to the position held immediately before the loss, no better and no worse. It underpins depreciation, salvage deduction, and betterment adjustments in motor assessments.

The improvement in a vehicle's condition when repairs or replacement parts leave it newer or superior to its pre-loss state. Surveyors deduct the betterment value so the claim does not exceed indemnity.

The reduction in a vehicle's or part's value due to age, wear, and use. Applied to plastic, rubber, and fibre parts and to total-loss valuations to arrive at the fair pre-accident value.

The sum insured fixed at policy inception, representing the current market value of the vehicle. It caps the insurer's liability for total loss and is the benchmark for constructive total loss decisions.

A claim outcome where the vehicle cannot be economically repaired or is stolen and not recovered. Settlement is based on the insured declared value less salvage and applicable deductions.

A situation where repair cost plus salvage value exceeds the insured declared value or the pre-accident market value, making repair uneconomical. The vehicle is treated as a total loss for settlement.

The amount a damaged vehicle or its residual parts can realise in the open market. Surveyors assess salvage and deduct it from the total-loss settlement when the insurer does not retain the wreck.

The section of a motor policy that pays for accidental damage to the insured vehicle itself. It is distinct from third-party liability and applies subject to deductible, exclusions, and sum insured limits.

Compulsory cover for bodily injury, death, and property damage caused by the insured vehicle to others. It is unlimited for injury and capped for property damage under Indian motor tariff provisions.

The first portion of every claim the insured must bear, either as a compulsory amount or a voluntary excess chosen for premium discount. Surveyors deduct it before computing net payable amounts.

A renewal discount on own damage premium earned for each claim-free policy year, rising through defined slabs. It is forfeited or reduced after a claim and must be verified during assessment.

Specified situations where the insurer is not liable, such as driving without a valid licence, intoxication, or use outside the declared purpose. Surveyors must test each claim against these exclusions.

The requirement that the person driving held an effective, appropriately classed licence at the time of the accident. An invalid or expired licence typically breaches policy conditions and bars the claim.

A certificate of roadworthiness issued for transport vehicles under the Motor Vehicles Act. Its validity is checked for commercial vehicle claims because lapsed fitness can affect liability.

The authorisation a transport vehicle needs to operate on specified routes or areas. Its validity and route compliance are verified when assessing claims involving commercial vehicles.

A motor vehicle constructed or adapted to carry goods, insured under a commercial vehicle policy. Assessment checks declared usage, permitted load, and whether goods carried were within policy terms.

A vehicle used to carry passengers for hire or reward, such as buses and taxis. Claims review seating capacity, permit, route, and whether fare-paying use matches the declared class.

An immediate inspection of the damaged vehicle at the accident or garage site soon after intimation. It records visible damage, photographs the scene, and prevents later alterations before detailed assessment.

The detailed post-repair or pre-repair inspection where the surveyor verifies damage, repair estimates, replaced parts, and labour charges. It produces the assessment report on which claim settlement is based.

The systematic identification and costing of damage to a vehicle following a loss. It compares observed damage with the reported incident and with repairer estimates to determine admissible cost.

The surveyor's evaluation of parts, labour, and painting charges needed to restore the vehicle. It distinguishes admissible items from inflated or unrelated charges using standard labour rates.

The market value of the vehicle immediately before the loss, based on age, model, condition, and comparable sales. It is used to test sum insured adequacy and settle total-loss claims.

A claim settled on the basis of repair estimates without the insurer directly paying the garage. The insured receives cash and must ensure repairs are completed to the assessed standard.

Restoring the damaged vehicle to its pre-accident condition through repair or replacement of parts. In motor claims it is the practical expression of indemnity, subject to deductions and limits.

The insurer's right, after paying a claim, to step into the insured's shoes and recover the loss from the responsible third party. It prevents double recovery and applies to motor liability claims.

The principle that where two or more policies cover the same loss, each insurer pays a proportionate share. It prevents the insured from recovering more than the actual loss.

The situation where the same insurable interest is covered by more than one policy. The insured cannot recover twice; insurers share the loss through contribution.

An arrangement among motor insurers to settle their own policyholders' own-damage claims without pursuing recovery from each other. It simplifies claims and reduces litigation between insurers.

The registration issued by the insurance regulator authorising a person to act as a surveyor or loss assessor. Practising without a valid licence is prohibited and reports may be rejected.

The written assessment prepared by a licensed surveyor covering damage, cause, admissibility, and recommended settlement amount. It is a key document relied on by the insurer when deciding a claim.

The first formal notice by the insured to the insurer that a loss has occurred. Timely intimation triggers surveyor appointment and is a condition precedent to claim processing.

The insurer's formal rejection of a claim, wholly or partly, on grounds such as policy exclusion, breach of condition, or invalid documentation. Reasons must be communicated clearly to the insured.

The statutory liability cover every motor vehicle owner must hold under the Motor Vehicles Act. It protects victims of accidents caused by the insured vehicle and is enforced through penalties.

Unique identifiers stamped on a vehicle's engine and frame, used to confirm identity and detect substitution or fraudulent claims. Surveyors verify both against registration and policy records.

The official document proving a vehicle's registration with a regional transport authority. It confirms ownership, class of vehicle, and fitness, and is checked during claim verification.