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Thread: Cancel the Insurance cover

  1. #1
    PolicyWala Fan
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    Default 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.

    The road to success??.. Is always under construction.


  2. #2
    Moderator CONFUSED's Avatar
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    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.
    Rules/Guidelines at PolicyWala | Help Old People |
    I am speaking from experience and my own personal views above - I am not an advisor, nor an expert.

  3. #3
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    Thanks Confused for the answer.
    Do we need to provide the photocopy of the new insurance cover note / policy certificate with the above application?
    The road to success??.. Is always under construction.

  4. #4
    Moderator CONFUSED's Avatar
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    Quote Originally Posted by CopyCat View Post
    Thanks Confused for the answer.
    Do we need to provide the photocopy of the new insurance cover note / policy certificate with the above application?
    Yes, you need to provide the photocopy.
    Rules/Guidelines at PolicyWala | Help Old People |
    I am speaking from experience and my own personal views above - I am not an advisor, nor an expert.


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