Prepaid for 3rd party insurance - Will I get a refund if I switch providers?

Turbotechnixx · 3rd September 2019, 10:57

Hey Guys,

So I purchased a Triumph Street Triple in September 2018. Its due for its insurance renewal in the next couple of days. When I bought the bike, I paid close to 44K as insurance fees which included the compulsive 5 years 3rd party insurance premium from Reliance General Insurance. I had a small claim last year and I was not really happy with the way RGI dealt with it. Infact - my case has already been registered at the Insurance Ombudsman's office. Now, I have renewed the insurance (the switchover happens on 23.09.2019) with New India Assurance where they have again charged me a small fee of Rs. 2000 and some odd amount for 1 year of 3rd party insurance. I guess they will continue to charge me every year on renewal

My question here is will Reliance General Insurance refund the excess 3rd party Insurance fee it has collected from me since I am not continuing with them anymore at all? Thanks.

speedmiester · 3rd September 2019, 11:18

You can still continue the third party insurance with Reliance and comprehensive insurance with New India Assurance. You need buy a third party insurance with New India and inform them that you have an active third party coverage with other insurer.

3rd September 2019, 10:57	#1
Turbotechnixx BHPian Join Date: Aug 2016 Location: Mumbai Posts: 29 Thanked: 154 Times	Prepaid for 3rd party insurance - Will I get a refund if I switch providers? Hey Guys, So I purchased a Triumph Street Triple in September 2018. Its due for its insurance renewal in the next couple of days. When I bought the bike, I paid close to 44K as insurance fees which included the compulsive 5 years 3rd party insurance premium from Reliance General Insurance. I had a small claim last year and I was not really happy with the way RGI dealt with it. Infact - my case has already been registered at the Insurance Ombudsman's office. Now, I have renewed the insurance (the switchover happens on 23.09.2019) with New India Assurance where they have again charged me a small fee of Rs. 2000 and some odd amount for 1 year of 3rd party insurance. I guess they will continue to charge me every year on renewal My question here is will Reliance General Insurance refund the excess 3rd party Insurance fee it has collected from me since I am not continuing with them anymore at all? Thanks.
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3rd September 2019, 11:18	#2
speedmiester Senior - BHPian Join Date: Jul 2006 Location: bangalore Posts: 2,387 Thanked: 6,631 Times	re: Prepaid for 3rd party insurance - Will I get a refund if I switch providers? You can still continue the third party insurance with Reliance and comprehensive insurance with New India Assurance. You need buy a third party insurance with New India and inform them that you have an active third party coverage with other insurer.
	(4) Thanks