Renting Out Your Personal Car? If You Do That, You Will Suffer A Huge Loss
Car Insurance: Many People Buy A Car For Personal use. it is essential. However, Some Of Them Rent Out Their Private Car For Commercial Purposes. Those Who Are Using The White Number Plate Personal Car For Commercial Purposes Will Have To Suffer Huge Losses. Can’t Claim Insurance In Case Something Happens. Now Let Us Find Out How A Person Lost A Car By Renting It.
Car Insurance:
We Buy A Car For Personal Needs. It is Known That It Has A Number Plate With Black Letters On White Plates. However, Pasulu Colored Number Plate Is Unique To Those Used For Commercial Purposes. But, They Also Give Their Private Car On Rent. It Will Bring Some Money. But, if Something Happens Like Theft Of The Car or an Accident, The Loss Will Be Huge. If A Private Car Is Given Commercial Needs, Insurance (Insurance Rules For New Car) Cannot Be Claimed. Now Let’s Find Out How.
A Man From Thane in Maharashtra Sought Compensation From The Insurance Company For His Stolen Car And Was Rejected. Approaching The Court On This Matter Was Unsuccessful. His Petition Was Dismissed By The Thane Additional District Consumer Dispute Redressal Commission. It Was Found To Be A Violation Of Insurance Rules. An Official Revealed That He Used His Private Car For Commercial Purposes. The Claim Was Made By The Insurance Company After 42 Days After The Car Was Stolen.
As Per The Insurance Contract The Policy Holder Has To Abide By The Terms And Conditions Of The Policy Document. If Found To Have Violated The Policy Terms, The Insurance Company Will Cancel The Contract And Reject Their Claim. No Claim Can Be Made Except As Stated in The Insurance Policy. Before Taking The Insurance, It Is Better To Know All The Terms And Conditions Before Taking The Insurance. Whenever A Dispute Arises Between The Insurance Company And The Policy Holder, Every Provision Is Strictly Followed.
In The Above Mentioned Case The Person Has Taken Car Insurance For His Personal Needs. But, He Used His Car For Commercial Purposes In Violation Of The Insurance Terms. In This Order, The Court Rejected His Claim As The Insurance Cover Was Not Extended For Commercial Purposes. Similar Situations Are Encountered in Many Cases. By Extending The Insurance Cover Risk While Intending To Use It For Commercial Purposes, Last-minute Difficulties Can Be Avoided. A Businessman From Navi Mumbai Hired The Car. However, It Is Against Insurance Policy. The Car Was Stolen On September 29, 2021. With This, He Applied To Give Rs. 4.90 Lakhs In The Value Of Their Car. He Stated In The Petition That Interest, Legal Fee And Compensation For Mental Stress Should Be Given. But, The Court Rejected It.
