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Old 3rd July 2019, 22:21   #1
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Default Reliance General wrongly asking me to pay higher 3rd-party premium. EDIT : Issue settled

I had renewed insurance for my car on 13th June before the third party premium was increased (increased effective 16th June). Today I got an SMS from reliance general asking me to pay the differential amount.

Since I bought the insurance before the hike why am I being asked to pay the difference? Has anyone else faced this issue?
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Old 4th July 2019, 08:29   #2
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by katchkamalesh View Post
I had renewed insurance for my car on 13th June before the third party premium was increased (increased effective 16th June). Today I got an SMS from reliance general asking me to pay the differential amount.

Since I bought the insurance before the hike why am I being asked to pay the difference? Has anyone else faced this issue?
I had renewed my car's insurance before the TPL premium hike and haven't been contacted for the differential amount. You should reply back to Reliance that you are not liable to pay the difference as you had paid the premium well in advance.

Just asking how early did you pay the premium? Did Reliance send you the renewal reminder notice?
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Old 4th July 2019, 14:12   #3
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Default Re: Automobile Insurance Queries? Ask me

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Just asking how early did you pay the premium? Did Reliance send you the renewal reminder notice?
I bought it via coverfox. Previous insurer was HDFC.

I saw the circular from IRDAI about the third party premium and point 9 clearly states that insurers are not permitted to cancel the current insurance policy and replace it with fresh policy with new premium.

I have taken it up with Coverfox and Reliance.
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Old 6th July 2019, 10:00   #4
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Default Re: Automobile Insurance Queries? Ask me

So I wrote an email to reliance about this incident and as per their reasoning, since the coverage for my car begins in August, I will have to bear the differential amount.

In my defence I told them that I have received several SMS and emails from other insurers (for car and bikes) saying that if I renew the insurance by 15th June I will not need to pay a higher TPT premium which implies that date of buying the policy decides the TPT premium and not the date of coverage.

I have seen the IRDAI circular dated 4th June 2019 and it clearly mentions that insurers are not permitted to cancel the current insurance policies and replace those with fresh policies with new premium rates.

I called up coverfox as well and they tell me that they have received a number of complaints about the same issue. Coverfox has also told me not to pay the differential premium since I paid the premium before 16th June.

I think there is a scam brewing. If any of you have are facing the same issue, please refrain from paying them. I intend to take it with IRDAI if I donít get a satisfactory response.
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Old 8th July 2019, 11:31   #5
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Default re: Reliance General wrongly asking me to pay higher 3rd-party premium. EDIT : Issue settled

Thanks for sharing, Katchkamalesh! Moved your post to a new thread so that others aren't taken for a ride.
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Old 30th July 2019, 13:49   #6
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Default re: Reliance General wrongly asking me to pay higher 3rd-party premium. EDIT : Issue settled

Finally after almost a month, I have managed to get an email from Coverfox whch states that I do not need to bear the increase in third party premium. I have also been asked to ignore any SMS or email from Reliance asking me to pay the difference.

Hope that there will not be any issue when it comes to claims.
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Old 30th July 2019, 15:34   #7
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Default re: Reliance General wrongly asking me to pay higher 3rd-party premium. EDIT : Issue settled

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Originally Posted by katchkamalesh View Post
I have also been asked to ignore any SMS or email from Reliance asking me to pay the difference.

Hope that there will not be any issue when it comes to claims.
It is always better to get a concurrence from Reliance too as they are the one's who would approve the claims. I would suggest to get that confirmation from Coverfox that Reliance is in agreement too and that any claims will not be affected.

Must appreciate your efforts in keeping the chase live with Coverfox and not letting go of things.
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Old 2nd August 2019, 18:11   #8
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by katchkamalesh View Post
So I wrote an email to reliance about this incident and as per their reasoning, since the coverage for my car begins in August, I will have to bear the differential amount.
Hello, this could be case where aggregator (Coverfox) & insurer (Reliance) sourced the business in hurry before deadline but got delayed to book the policy in their system. And therefore now asking more money under pretense of Policy start date being in future (August).

Regardless, you are not at fault & they will have to provide you insurance at agreed cost quoted earlier. You are well within your rights to reject extra payment. I work in insurance and encounter such cases often. As precaution, please take it in writing (email) or recorded line (call) from Coverfox that you do not have to pay any extra money & policy will be effective from the said date.
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Old 3rd August 2019, 23:46   #9
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by ghodlur View Post
It is always better to get a concurrence from Reliance too as they are the one's who would approve the claims. I would suggest to get that confirmation from Coverfox that Reliance is in agreement too and that any claims will not be affected.
Reliance have been sending the same standard response of asking me to pay the difference. No one even understands (more like pretend to not understand) the issue.

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Originally Posted by ndp88 View Post
As precaution, please take it in writing (email) or recorded line (call) from Coverfox that you do not have to pay any extra money & policy will be effective from the said date.
Thanks for confirming that my understanding about paying the differential premium is right. I have 2 emails from Coverfox asking me to ignore the payment request and my policy is valid. If in case of any issues I will approach Reliance via Coverfox.
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Old 4th August 2019, 01:55   #10
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Default re: Reliance General wrongly asking me to pay higher 3rd-party premium. EDIT : Issue settled

Don't take CoverFox for granted. Better to email reliance with ultimatum to solve the issue & inform them if they fail to do so, you will approach insurance ombudsman for resolution of this malpractice.

If still they fail to resolve the issue within stipulated time frame, register the complain with the respective authorities.

You can find the list here http://ecoi.co.in/ombudsman.html and https://www.irdai.gov.in/ADMINCMS/cm...eNo234&mid=7.2

Don't forget to ask for some compensation for this malpractice

Thanks.
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Old 18th August 2019, 09:58   #11
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Default re: Reliance General wrongly asking me to pay higher 3rd-party premium. EDIT : Issue settled

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Originally Posted by NaXal View Post
Don't take CoverFox for granted. Better to email reliance with ultimatum to solve the issue & inform them if they fail to do so, you will approach insurance ombudsman for resolution of this malpractice.
Finally, after relentless followup, I finally managed to get a solution to this problem.

I had escalated this issue with the grievances team. I got a confirmation from them asking me to ignore the communication sent by them earlier.

Though the customer care team was useless, the grievances team was very helpful. They were able to understand the issue and revert the same day with the solution.
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