Cancel the Insurance cover

Hi All,

My father had a Santro Xing -1999 model, which he had solded on 15th June'2009. The new buyer, who had bought the car, had taken new insurance policy to cover the santro. Now do we need to cancel the cover or leave it.

First surrender the certificate of insurance. Unused premium would be refunded depending upon the following circumstances -

1. If the insurance cover was continuous for 12 months or more, the Premium to be refunded on pro-rata basis subject to no claim made on the policy.
2. If the cover is not continuous, the Premium is to be retained on short period basis and the balance to be refunded.
3. It should be noted that in the event of cancellation of cover, premium should be refunded only if there has been no claim under the policy.

Thanks Confused for the answer.
Do we need to provide the photocopy of the new insurance cover note / policy certificate with the above application?

Quote:

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Originally Posted by CopyCat

Thanks Confused for the answer.
Do we need to provide the photocopy of the new insurance cover note / policy certificate with the above application?

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Yes, you need to provide the photocopy.