Financier / Hypothecation Endorsement — Claim Payment Route
Financier / Hypothecation Endorsement — Claim Payment Route. The endorsement on the policy and the RC naming the bank / NBFC that financed the vehicle. — DigiSurvey.
What it covers क्या कवर होता है
The endorsement on the policy and the RC naming the bank / NBFC that financed the vehicle. On any claim settlement, the loss payee is the financier (not the insured) up to the outstanding loan, with the balance (if any) paid to the insured.
पॉलिसी और RC पर उस bank/NBFC का endorsement जिसने गाड़ी finance की। किसी भी claim settlement पर loss payee outstanding loan की सीमा तक financier है (insured नहीं), शेष (अगर हो) insured को।
Surveyor's verdict / key conditions सर्वेयर की जाँच
Verify RC Part-II and the policy schedule both carry the hypothecation (HPA) endorsement in the SAME financier name. On TL / CTL settlement, obtain the financier's original NOC specifying the outstanding and the payable split — do NOT release the cheque to the insured. For a partial repair claim, financier typically waives involvement; keep its no-objection on file. If HPA has been terminated (loan closed) but RC still shows HPA, insist on the HPA cancellation (Form 35 + bank letter) before releasing payment to the insured.
पक्का करें कि RC Part-II और policy schedule दोनों पर एक ही financier के नाम से hypothecation (HPA) endorsement है। TL/CTL settlement पर financier का original NOC लें जो outstanding और split बताए — insured को cheque न दें। partial repair claim में financier आमतौर पर दख़ल नहीं देता; उसकी no-objection file में रखें। HPA खत्म हो चुका है (loan closed) पर RC पर HPA अभी भी — Form 35 + bank letter माँगें, तब insured को payment।
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