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Are we not allowed to undervalue my vehicle?

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Money Talk India Finance Forum (MTIFF) :: Insurance Talk :: Vehicle Insurance Talk

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Are we not allowed to undervalue my vehicle?

Post by enidhi on Thu Jan 31 2008, 19:44

Insurance companies use standard depreciation to calculate current market value of the vehicle and subsequently calculate the premium accordingly.

But if I wish to value my vehicle at a lower price is it possible? Risk cover will be lower and so will be the insurance premium...

enidhi
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