Insurance – the motor variety

I have a 2 wheeler purchased in 1998 for which insurance renewal had to be done. A visit to the firm got my BP rollercosting…there was a hike of 20% in premium rates from last year!!

There are 2 types of insurance for motor vehicles. Type A – where damage to vehicle including thefts, fires etc is covered and quite highly priced. Type B – where you can not claim any accidents damage etc but the insurance company will cover you in case somebody sues you for accident upto a maximum of 50,000 INR.

On closer scruitiny with 2 other firms offering insurance, to my surprise all of them have raised the premiums and when I requested for a discount since the policy did not have a single claim in the last so many years, the Manager rudely pulled out the book and showed me where it was printed “the company is at its discretion able to judge and set premium levels including complete rejection without reasons”.

That was the last straw. Its like the cops catch you without the cheapest type B insurance and you need to pay fines, sooner or later the insurance firms will catch up with premium rates so high, cops will seem cheeper by fines!!!

This is another way of penalty for using private transport I guess!!

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5 Responses to Insurance – the motor variety

  1. Apun Ka Desh says:

    πŸ™‚ Good Information…

  2. Vani says:

    Hello Sir,

    Long time no visit to WP! Very bad……. 😦

  3. kalyan says:

    Very true…but one thing I don’t understand is why cops are more interested about insurance of vehicles more than the owners.

  4. bachodi says:

    Is it mandatory here? For two wheelers…?
    I am a complete illiterate

  5. Apun ka desh,
    welcome to this site. Glad to hear the info was good.

    Vani,
    Have done the needfull…so when is your next post πŸ˜‰

    Kalyan,
    Cops need to check every document for legal purposes – sometimes for their pocket purposes – more so by month end!

    bachodi,
    Anything that moves needs RC book, Insurance, Pollution under control check document and a driving licence….

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