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View Poll Results: Which company among these?
The New India Assurance 19 13.10%
United India 4 2.76%
Oriental Insurance 5 3.45%
National Insurance 13 8.97%
HDFC Chubb 4 2.76%
ICICI Lombard 12 8.28%
Tata AIG 32 22.07%
Bajaj ALLIANZ 38 26.21%
Iffco Tokio 5 3.45%
Royal Sundaram 7 4.83%
Reliance 6 4.14%
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Old 18th May 2010, 17:32   #61
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Now my question is what would have happened if i really had a claim? Would i have been in trouble? I have their receipt with stamp stuck on it, will it hold any value in such a case?
Yes friend you were in deep trouble if you had any loss. All the policies and receipts are issued with an assumption that cheque will get clear. Once cheque is bounce everything is invalid.

You are lucky that they have not re-surveyed your car before accepting the second payment. As they have a right of doing that as well.
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Old 18th May 2010, 17:52   #62
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Yes friend you were in deep trouble if you had any loss. All the policies and receipts are issued with an assumption that cheque will get clear. Once cheque is bounce everything is invalid.

You are lucky that they have not re-surveyed your car before accepting the second payment. As they have a right of doing that as well.
Wow am lucky! But I think i need to sue them! and maybe the bank too. lol

First they didn't even have a clue that it had happened, it took them more than a month to figure it out, and that too after i informed them. They have even sent me the receipt as well as the new policy!! If policy hadn't come i would have atleast checked, starting with the bank statement.

I was lucky that i noticed this during the monthly credit card payment. The new policy confused me, and i even thought it was a banking error, since it happened during the same time that my bank had an online system upgrade. Still i didn't take the chance and contacted the bank to figure out if this really was an issue.

Second the cheque didn't bounce, and was returned, which was NOT notified to me by them or the bank lol

Finally a small clarification, they had re-surveyed my vehicle and taken photo's inside out yesterday itself. Was happy that they did this by sending the surveyor to my place.

So even a renewed policy document doesn't hold any value eh?

Am sticking to cash payment now on!
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Old 18th May 2010, 18:05   #63
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Inspection (rather a comprehensive photo session) was done
Ohh you said this in past, I forgot.

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They have even sent me the receipt as well as the new policy!!

So even a renewed policy document doesn't hold any value eh?
You got the new policy because they received the cheque. Once the cheque is received for renewal of policy they send the information to policy issuance department. That department will not wait till the cheque get's clear from your bank, they just issue the policy.

I think you should be getting a whole new policy document in few day's as old policy is invalid.
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Old 18th May 2010, 19:39   #64
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I think you should be getting a whole new policy document in few day's as old policy is invalid.
Yes that's what the agent who came to collect cash informed me. New policy wef date yesterday and same value as the old policy.
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