Go Back   Team-BHP > BHP India > Team-BHP Reviews > Indian Car Loans & Insurance


Reply
 
Thread Tools Search this Thread
Old 6th September 2011, 11:01   #16
Senior - BHPian
 
Join Date: Jun 2007
Location: Kochi
Posts: 2,147
Thanked: 143 Times
Default Covernote

A "cover note" is a temporary policy valid to take the vehicle from the factory to dealer's place.

It is valid till a temp registration (and not proper registration) is taken.

For a proper registration, you need a proper insurance policy. For renewal, you get a renewal policy. There is no business of "cover note" for renewal. You are also entitled for a receipt from the agent.

If availing services of an agenct, to be on safe side, renew the policy (pay premium between 30 - 20 days before expiry of the policy, so that the original renewal document in in your hands by the time existing policy expires. If you do not receive the policy document before 4/5 days of expiry follow up with the agent

Remember that driving any vehicle without a valid policy is an offence in itself. It is your burden - that is the law, and you need to abide by it.
BaCkSeAtDrIVeR is offline   Reply With Quote
Old 6th September 2011, 11:07   #17
Distinguished - BHPian
 
Sheel's Avatar
 
Join Date: Jul 2006
Location: Purnea(Bihar)
Posts: 5,208
Thanked: 4,833 Times
Default Re: Covernote

There is a Maruti dealer at Patna who practices the same, on & off so as not to get caught.

If someone is buying a Maruti from Patna, please PM me and I shall let out the dealer's name so that it can be avoided.
Sheel is offline   Reply With Quote
Old 8th September 2011, 17:00   #18
Distinguished - BHPian
 
dhanushs's Avatar
 
Join Date: Oct 2009
Location: Bathery/BLR
Posts: 3,446
Thanked: 4,055 Times
Default Re: Covernote

Quote:
Originally Posted by BaCkSeAtDrIVeR View Post
A "cover note" is a temporary policy valid to take the vehicle from the factory to dealer's place.

It is valid till a temp registration (and not proper registration) is taken.

For a proper registration, you need a proper insurance policy. For renewal, you get a renewal policy. There is no business of "cover note" for renewal. You are also entitled for a receipt from the agent.

Remember that driving any vehicle without a valid policy is an offence in itself. It is your burden - that is the law, and you need to abide by it.
BaCkSeAtDrIVeR, it is written clearly in my cover note, that my policy commences on XX-XX-XXXX date and XX:XX time. So, doesn't that mean that I have a valid insurance policy from that date?

Also, its legal to drive around with the covernote for 60 days from issue.
dhanushs is offline   Reply With Quote
Old 9th September 2011, 05:49   #19
Senior - BHPian
 
mayankjha1806's Avatar
 
Join Date: Jan 2011
Location: BLR/Gurgaon
Posts: 2,133
Thanked: 820 Times
Default Re: Covernote

Quote:
Originally Posted by BaCkSeAtDrIVeR View Post
A "cover note" is a temporary policy valid to take the vehicle from the factory to dealer's place.
Cover note is a proper document that states your insurance is valid from the date for the next 1 year. You wouldn't need it if your existing policy is still valid but would be required if the time of renew is so close to the expiry of existing policy that it is not possible to get the complete policy document hence post the policy expiry you would need the cover note to convince the cops that the policy has been renewed already.

I usually renew the policy close to a month in advance to give enough time for the proper policy document to come so that there is no need to roam around with the cover note.
mayankjha1806 is offline   Reply With Quote
Old 9th September 2011, 14:19   #20
Senior - BHPian
 
Join Date: Jun 2007
Location: Kochi
Posts: 2,147
Thanked: 143 Times
Default Re: *SCAM* Cover Note Issued, No Insurance Policy Yet!!

Quote:
Originally Posted by dhanushs View Post
BaCkSeAtDrIVeR, it is written clearly in my cover note, that my policy commences on XX-XX-XXXX date and XX:XX time. So, doesn't that mean that I have a valid insurance policy from that date?

Also, its legal to drive around with the cover note for 60 days from issue.
As I said, a 'cover note" is a document to cover vehicles in transist from manufacturer and dealer / dealer to customer.

Quote:
Originally Posted by mayankjha1806 View Post
Cover note is a proper document that states your insurance is valid from the date for the next 1 year. You wouldn't need it if your existing policy is still valid but would be required if the time of renew is so close to the expiry of existing policy that it is not possible to get the complete policy document hence post the policy expiry you would need the cover note to convince the cops that the policy has been renewed already.

I usually renew the policy close to a month in advance to give enough time for the proper policy document to come so that there is no need to roam around with the cover note.
If Insurance usage permits / actually uses the term to include the period from date of payment of premium to actual issue of a new policy, you may be right. But, I do not think so. No offence meant, but I know that the term "cover note" is used in the CMVR (Central Motor vehicles Rules), and use of term defined in the rules for something else is something the company's own legal department will frown upon.
BaCkSeAtDrIVeR is offline   Reply With Quote
Old 12th November 2011, 13:07   #21
Distinguished - BHPian
 
dhanushs's Avatar
 
Join Date: Oct 2009
Location: Bathery/BLR
Posts: 3,446
Thanked: 4,055 Times
Default Re: *SCAM* Cover Note Issued, No Insurance Policy Yet!!

I got my car back. Until now, the procedure was right on track and nothing unusual has happened. Lets see if I get my cheque.
dhanushs is offline   Reply With Quote
Old 25th November 2011, 11:17   #22
Distinguished - BHPian
 
dhanushs's Avatar
 
Join Date: Oct 2009
Location: Bathery/BLR
Posts: 3,446
Thanked: 4,055 Times
Default Re: *SCAM* Cover Note Issued, No Insurance Policy Yet!!

Update: Cheque is supposed to be 'passed' today, and dispatched to my home address by tomorrow.

Fingers crossed.
dhanushs is offline   Reply With Quote
Old 1st December 2011, 13:17   #23
Distinguished - BHPian
 
dhanushs's Avatar
 
Join Date: Oct 2009
Location: Bathery/BLR
Posts: 3,446
Thanked: 4,055 Times
Default Re: *SCAM* Cover Note Issued, No Insurance Policy Yet!!

Update: Got the cheque a couple of days back. So, even if there were a LOT of confusions and some delay, I get my cheque finally.

Lesson learnt while taking insurance:
  • Always pay by cheque.
  • Always try to use a trusted agent/firm, which has been operations for long (This was what helped me).
  • Dont swap agents for profits of a couple of 100 bucks. Go for the most trusted ones.
  • Try to renew insurance before 30 days, so that the original policy document will reach your home address before the existing insurance goes invalid.
  • Always follow up, to get the original policy document at the earliest.
  • Proofread the document, covernote, or what not to ensure you, your car, and the third party is protected just as you would like it to be.
dhanushs is offline   Reply With Quote
Old 1st December 2011, 16:54   #24
BHPian
 
Join Date: Jun 2009
Location: Chennai
Posts: 284
Thanked: 57 Times
Default Re: *SCAM* Cover Note Issued, No Insurance Policy Yet!!

dhanushs , good that you got your claim.

A DO of United India gave me few tips

1. Always pay by cheque in favour of the company. Never in the name of the agent

2. Check you account and confirm that the cheque has been cleared.

3. Follow up and get the policy.

4. Renew well in advance.

5. Don't keep changing the insurance company. In case of a big claim, being a long standing customer helps.

6. Check for relevant extra clauses/riders. I always on insist on PA cover for 4 passengers.

7. Check the policy for regn number, engine number etc.,
raju2512 is offline   Reply With Quote
Old 8th April 2013, 01:24   #25
Senior - BHPian
 
Captain Slow's Avatar
 
Join Date: Mar 2010
Location: Bangalore
Posts: 1,256
Thanked: 650 Times
Default TATA AIG not issuing Insurance Policy after payment

My insurance is with TATA AIG.
Insurance expired on 2nd April 2013

I renewed my Insurance by paying cash on the 18th of March by going to the TATA AIG office in cunning ham road. They issued me a cover note and promised me that I will get the insurance within 7 working days.

Now its been allmost 3 weeks and nothing!
I went to their office this Monday asking for an explanation. The manger promised me a resolution with 48 hours. Today is Sunday and I still have nothing.
I have the original cover note which they tell me is valid for 60 days.
On calling up the customer care number they tell me that my insurance hasn't been renewed yet and they cant see it in their system.
They gave me a complaint no and told me the issue will be resolved in 7 working days

Now what do I do ?
Captain Slow is offline   Reply With Quote
Old 8th April 2013, 02:09   #26
BHPian
 
Arunshek's Avatar
 
Join Date: Apr 2012
Location: Heilbronn, DE
Posts: 66
Thanked: 36 Times
Default

I also renewed my car's insurance at TATA AIG last month. I did experience a delay in getting the insurance even after 3 weeks. When I called my agent, they said that Tata AIG insurance offices are undergoing some relocations, so systems are down and there are backlogs. But since you have the cover letter, why don't you talk to the agent who issued you the cover note.
I called mine and they sent me the soft copy of the insurance.
Arunshek is offline   Reply With Quote
Old 8th April 2013, 09:11   #27
Senior - BHPian
 
ghodlur's Avatar
 
Join Date: Sep 2009
Location: Thane
Posts: 5,041
Thanked: 2,086 Times
Red face Re: TATA AIG not issuing Insurance Policy after payment

@Captail Slow

The cover note is valid for 60 days, you should be getting the Insurance copy mailed to your address. Any particular reason why you didnt renew the Insurance online, would have saved you the hassles of waiting for the Insurance copy.

All you can do now is wait for the issue to be resolved. Drop in a word again after couple of days to check if things are moving.
ghodlur is offline   Reply With Quote
Old 8th April 2013, 09:36   #28
Senior - BHPian
 
Guderian's Avatar
 
Join Date: Jun 2007
Location: Thane
Posts: 1,616
Thanked: 1,409 Times
Default Re: TATA AIG not issuing Insurance Policy after payment

Quote:
Originally Posted by Captain Slow View Post
They issued me a cover note and promised me that I will get the insurance within 7 working days.

Now its been allmost 3 weeks and nothing!
I went to their office this Monday asking for an explanation. The manger promised me a resolution with 48 hours. Today is Sunday and I still have nothing.
Now what do I do ?
Quote:
Originally Posted by Arunshek View Post
I also renewed my car's insurance at TATA AIG last month.
I called mine and they sent me the soft copy of the insurance.
The two experiences are contrary to the experience I had recently with Tata AIG.
After I got my vehicle insurance for the 3rd year from Tata AIG (shifted from Bharti Axa) I was sent a hard copy of the policy within 24 hours which was also sent to me in the soft copy form on the email. A week later also received the original copy with lots of other junk flyers and a policy holder etc without any follow up.

One thing you could do Captain is to visit their site and raise a complaint giving all details. I trust you have the receipt number and cover note number etc.

As an aside - hope they are not talking your handle too seriously...and thinking that you'd be very offended if they do anything fast for you.
Sorry couldn't resist that !

Arunshek - By now you should have received the original hard copy of the policy along with the policy holder etc. If not talk to your Associate concerned and get it. Also check on their site whether your policy is registered.

Last edited by Guderian : 8th April 2013 at 09:37.
Guderian is offline   (1) Thanks Reply With Quote
Old 8th April 2013, 09:44   #29
BHPian
 
Pancham's Avatar
 
Join Date: Dec 2009
Location: Kolkata
Posts: 845
Thanked: 128 Times
Red face Re: TATA AIG not issuing Insurance Policy after payment

Quote:
Originally Posted by Captain Slow View Post
My insurance is with TATA AIG.
Insurance expired on 2nd April 2013

I renewed my Insurance by paying cash on the 18th of March by going to the TATA AIG office in cunning ham road. They issued me a cover note and promised me that I will get the insurance within 7 working days.

Now its been allmost 3 weeks and nothing!
I went to their office this Monday asking for an explanation. The manger promised me a resolution with 48 hours. Today is Sunday and I still have nothing.
I have the original cover note which they tell me is valid for 60 days.
On calling up the customer care number they tell me that my insurance hasn't been renewed yet and they cant see it in their system.
They gave me a complaint no and told me the issue will be resolved in 7 working days

Now what do I do ?
Relax Captain Slow. I have a Tata AIG policy too and I received my policy after 4 months. Every time I called them they would say they had sent the papers. I even made a claim with the cover note. So I think its kind of a "normal" practice for Tata AIG to delay issuance of the policy.

P.S: Call the agent whom you had paid the premium. Also ask him to send a soft copy.

P.P.S: System showing insurance not renewed is something to worry about.

Last edited by Pancham : 8th April 2013 at 09:48.
Pancham is online now   (1) Thanks Reply With Quote
Old 8th April 2013, 11:23   #30
BHPian
 
Join Date: Feb 2008
Location: Pune
Posts: 344
Thanked: 56 Times
Default Re: TATA AIG not issuing Insurance Policy after payment

I am still getting renewal calls from tata aig CC inspite of renewing the policy online with TataAIG. So I sent a email to these
manager.customersupport@tata-aig.com
head.customerservices@tata-aig.com
customersupport@tata-aig.com
and got a response that they cannot see it renewed and have raised a complaint (not yet resolved). Seems to be issue in their systems. Do raise a complaint by sending email.
alto99 is offline   (1) Thanks Reply With Quote
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search


Similar Threads
Thread Thread Starter Forum Replies Last Post
How to renew driving license issued in other state? anujmishra The Indian Car Scene 89 1st December 2017 10:19
Ford issues a temporary hold on Figo & Aspire deliveries. EDIT : Recall issued Aditya The Indian Car Scene 37 27th May 2016 11:01
Kerala MVD squads issued Lux meters. To target Illegal Headlamps darklord Street Experiences 26 28th August 2013 08:35
Renewal of Insurance Policy jp1 Indian Car Loans & Insurance 9 11th February 2008 12:25
Procedure and Limits of Comprehensive & 3rd party insurance policy vinfriend Indian Car Loans & Insurance 3 30th July 2007 17:48


All times are GMT +5.5. The time now is 00:37.

Copyright 2000 - 2017, Team-BHP.com
Proudly powered by E2E Networks