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In a fit.. Help me out!

Discussion in 'Insurance & Loan Reviews' started by cliffhanger, Jul 28, 2010.

  1. cliffhanger

    cliffhanger Amatore

    Messages:
    91
    madras
    Guys,

    Today morning I was put into an uncomfortable situation, not by anybody else, but by circumstances. Here is what had happened.

    When I bought my Punto, I insured it with Bajaj Allianz. The Sales Rep who was in touch with me during the process also happened to be the marketing manager. He was quite friendly and helped me out in both my claims. In the mean time, he became a kind of friend too as he stays close to where I stay and belongs to my age group. Come August, my insurance will expire. So, I called him up twice for renewal. In both the calls, he answered that he will get back to me. But he didn't. A bit frustrated I was, I started dealing with Tata AIG. And after reading Amogh's review. I got in touch with their tele-services department and I was given an offer. I accepted it and agreed to pay by cheque.

    The sales rep from AIG came to my home this morning at 9am and collected the Cheque. A while later at 9.15am, as fate may have it. I got a call from my SP from BA. And here is how the conv. with him went.

    BA: Sir, How are you? And when shall I come to Home to renew the Policy?

    I: (Not knowing whom to curse)I answered ,"When I made two calls, you never got back to me. May I know the reason why?"

    BA: Sir, Bajaj is not renewing policies for those who made 2 claims or more. So I had to fight to get the renewal for you. Since I wasn't sure of whether you will be getting the renewal or not. I couldn't call you back.
    ( I kinda agreed with what he said. As I read earlier that Bajaj is not renewing policies for those who made 2 claims)

    I: Since you didn't repsond to both my calls. I got in touch with AIG. I'll try to terminate their offer and get back to you. (I cut the call)

    Now, I want to continue with BA because this guy made sure that both my claims went trouble free. During all the conversation except the last two, he promptly responed and helped me out to get things done. In one occasion, he even went a bit further to get my claim approved for accumalated damages. Now that if I move to AIG, I may not be haivng a point-of-contact. Though their offer looks lucrative, I kind of believe that without a person whom I know personally, I cannot have a smooth relationship with them. Also, I'm getting a considerably lesser quote from BA too ( though this is not a significant factor).

    Lastly, I'm planning to sell my car this year. I'm sure BA sales rep will help me out for a smooth transfer process. So guys, I'm really confused as to what to do. Please help me out

    This is what I have done-
    I asked the AIG rep to return my cheque. He said he will. But he hasn't till now. In the mean time, I'm gettinng a lot of calls from guys in Bombay to give them a chance.
  2. royj

    royj Esperto

    Messages:
    1,306
    Trivandrum
    :uh Difficult situation it sure is.. If you are planning to sell, I guess it may not matter much. Transferring the insurance is typically the buyer's head ache in this part of the country. With some luck if you can tide over the remaining months with out a claim, then there is nothing to lose.
    The fact that BA did not inform you in ADVANCE that they will not be renewing your policy because of two claims is in bad taste :irked
  3. VahanPujari

    VahanPujari Staff Member Janitor

    Messages:
    2,303
    Mumbai
    If you want to stick to Bajaj (and rightly so), you can give instructions to your bank to "STOP PAYMENT" for the cheque which you've given to T-AIG. That would solve it (assuming the cheque is not yet encashed)
  4. cliffhanger

    cliffhanger Amatore

    Messages:
    91
    madras
    Royj,

    I'm planning to sell my car before feb or march next year. I think it's quite a bit of time to tide over considering the fact that I drive a lot.

    Well yeh, but getting a transfer and getting a claim approved is of equal importance to me. I don't want to run behind Tata-Aig to get my claim approved. And I know it sometimes feels like being in a lost world if we have no one to listen to.

    And yeah, the fact that BA did not inform until the last minute is in bad taste. But the pleasant experience I had with him, makes me forgive him one last time.

    Btw, I'm still in a dilemma. :roll:
  5. cliffhanger

    cliffhanger Amatore

    Messages:
    91
    madras
    Vahan,

    Will I get to face any legal implications if I do this? Assuming they try to encash the cheque and if it bounces back, won't they take leagal actions against me?
  6. VahanPujari

    VahanPujari Staff Member Janitor

    Messages:
    2,303
    Mumbai
    Technically, I think Stop Payment is covered the way bounced cheque is. However, here you've a logical answer that the deal is cancelled. You can speak to your bank for further details.
  7. Ravi

    Ravi Staff Member Janitor

    Messages:
    6,001
    Bangalore
    Grande Punto 1.3
    There is no legal implication, if you instruct your bank to not encash the cheque. This is the correct way, go ahead.
    If cheque bounces, it could become a legal issue.
  8. cliffhanger

    cliffhanger Amatore

    Messages:
    91
    madras
    I have given them a post dated check for next month. So this should help.Thanks Buddy!
  9. cliffhanger

    cliffhanger Amatore

    Messages:
    91
    madras
    To be honest, I never really like to be in a bank. Firstly, I don't understand all the jargons they speak. And then the number of procedures they have makes one go in search of energy. I have always heard that circumstances can put one in trouble. Experiencing it myself now. ::OO

    Any other solutions will also help. Thanks guys!
  10. royj

    royj Esperto

    Messages:
    1,306
    Trivandrum
    I guess a legal problem can arise only when the insurance company has given you the policy and then they are unable to encash the cheque. So all you need to do is to stop the cheque and give a written request to AIG to cancel the policy application. That should prevent it becoming an issue in future.

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