Reliance Motor car insurance is probably the worst I have ever come across in my whole life. I bought a second hand car and along with it came the insurance policy that was valid for a few months. when it became due for renewal, I contacted the insurance guys in Chennai office and they were quite curious to know if I would go for a comprehensive insurance? My experience with insurance companies in general is that no insurer gives anything more than 65% of your claim and makes you shell out the balance 35%. The insurance company has so many formalities lined up that it takes quite some time for the settlement and to get the car repaired. Hence, I decided to renew all my motor car insurance for third party risks only!
The rate of premium for third party insurance was quite normal until about 3 years back but has more than doubled in the past couple of years. The insurance company is not interested to renew third party policies and give vague reasons to the customer with an intent to drive him away from them.
in my case, the due date was 28th March, 2013. Pressure of work and bit of carelessness on my part, skipped the due date for payment of renewal premium. I did not get a renewal notice either from the insurance company. When I contacted them on the 1st April, 2013 and asked for renewal of my policy, Reliance office bearer one Mr Kamal told me that the insurance premium is increased and that the renewal premium is Rs 1416/-. I made a cheque for Rs 1416/- favouring Reliance General insurance and sent it to the office. The company returned the cheque stating that it is not their policy to accept cheques and asked for cash payment. accordingly, I sent the requisite cash and asked them to issue the policy. Again the person named Kamal told me that they will send a surveyor to carry out necessary inspection and then issue the policy. The surveyor came for inspection on the 2nd April, 2013 and submitted his report. Today, the company is saying that they will have to take not sanction for this renewal as the model of the car in approved list(Hyundai Getz 2006 model).
Ultimately, it is the way these people do business and form their own rules and regulations giving a damn to the IRDA appointed by the Finance Ministry. When I told the concerned person that I will be forced to take up the matter with IRDA, they are laughing it out and asked me to go ahead!
The money is deposited with the branch on the 2nd April, 2013 and there is no receipt issued for acceptance of the money. The officials say that they will issue the policy only after clearance from their head office!!
No wonder, these private insurance companies are undependable.
The rate of premium for third party insurance was quite normal until about 3 years back but has more than doubled in the past couple of years. The insurance company is not interested to renew third party policies and give vague reasons to the customer with an intent to drive him away from them.
in my case, the due date was 28th March, 2013. Pressure of work and bit of carelessness on my part, skipped the due date for payment of renewal premium. I did not get a renewal notice either from the insurance company. When I contacted them on the 1st April, 2013 and asked for renewal of my policy, Reliance office bearer one Mr Kamal told me that the insurance premium is increased and that the renewal premium is Rs 1416/-. I made a cheque for Rs 1416/- favouring Reliance General insurance and sent it to the office. The company returned the cheque stating that it is not their policy to accept cheques and asked for cash payment. accordingly, I sent the requisite cash and asked them to issue the policy. Again the person named Kamal told me that they will send a surveyor to carry out necessary inspection and then issue the policy. The surveyor came for inspection on the 2nd April, 2013 and submitted his report. Today, the company is saying that they will have to take not sanction for this renewal as the model of the car in approved list(Hyundai Getz 2006 model).
Ultimately, it is the way these people do business and form their own rules and regulations giving a damn to the IRDA appointed by the Finance Ministry. When I told the concerned person that I will be forced to take up the matter with IRDA, they are laughing it out and asked me to go ahead!
The money is deposited with the branch on the 2nd April, 2013 and there is no receipt issued for acceptance of the money. The officials say that they will issue the policy only after clearance from their head office!!
No wonder, these private insurance companies are undependable.
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