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BIKE Ins. - RENEW HASSLE FROM REL GENERAL INS.
Oct 25, 2018 08:17 PM 5078 Views

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I have taken bike insurance for last 3 years from reliance general insurance and every year IRDA increases charges in some or another form to cut the pocket of the citizens of india.


Below are the points noticed which is not considered by IRDA while giving license to private firms and they have no control:




  1. My bike is above 5 years and when I ask for third party insurance from local authorized agents or online they deny and say you need to take first party. There is no control of IRDA which is not working for the interest of consumers for bike owners.




  2. Insurance is taken from reliance general insurance in case I want the policy from another company. Another company denies to transfer NCB and noone displays the condition why it cannot be done. The response from manager comes its company policy.WHO IS ALLOWED TO CREATE SUCH POLICY AND LICENCE TO SUCH FIRMS. NO CONTROL OF IRDA WHICH IS EATING INSURANCE MONEY OF CITIZENS OF INDIA CALLING SELF TAKING CARE OF PEOPLE. THEY ARE WORKING FOR CORPORATE BENEFIT NOT CUSTOMER BENEFIT.




  3. PA- THE AMOUNT INCREASED FROM INR 50 TO INR 730 FOR 15 LAC INSURANCE AMOUNT FOR THE OWNER DRIVER. FOR BIKE THEY ARE TAKING SO MUCH MONEY FOR INSURANCE THE REGULATORY AUTHORITY IS THINKING FROM CORPORATE COLLECTION OF MONEY FROM PUBLIC. WHEN CLAIM COMES HOW MUCH SMOOTH SUPPORT THEY WILL GIVE THAT IS BIG QUESTION WHEREIN PERSON WHO IS EARNING IS IMPACTED WHICH THESE CORPORATE DO NOT CARE BUT TAKING EACH YEAR HEFTY AMOUNT.




  4. ONLINE PORTAL POLICY CALCULATOR GIVES INCORRECT AMOUNT OF RELIANCE GENERAL INSURANCE WHEN ASKED TO PROVIDE THE BASIC OD AMOUNT% IT WAS INCORRECT AS PER NORMS OF IRDA. NO CONTROL AND NO CHECK DONE BY IRDA ON THE WEBSITE WHICH DISPLAYS INCORRECT AMOUNT.




  5. POLICY BAZAAR GIVES LESS AMOUNT FROM THE PRIVATE FIRMS. WHEN ASKED TO GIVE GOVERNMENT POLICY THEY WILL NOT GIVE YOU CALL BACK AND DO NOT BOTHER THEN. ONLY TWO GOVERNMENT SECTOR POLICY AGENCIES ARE INCLUDED IN THERE LIST. GOVERNMENT SECTOR INSURANCE AGENCIES ARE DISPLAYING THERE QUOTE.






IRDA IS ALLOWING CORPORATES WHEREIN CUSTOMERS ARE BOUND TO TAKE POLICY FROM THEM, IN CASE THEY SWITCH OVER THEN ANOTHER INSURANCE COMPANY IS NOT GIVING ANY BENEFIT FOR THE CONSUMER FOR NOT CLAIMING AND NOT ENTERTAINING THE CUSTOMER PROPERLY.


THEY NEED INSURANCE WHEN NEW BIKE IS TAKEN, FOR OLD BIKES THEY DO NOT CARE AND POLICE OFFICERS AND TRAFFIC POLICE AGENTS WANT TO CUT CHALLAN IMMEDIATELY THE MOMENT YOU DO NOT HAVE PAPERS OF THE VEHICLE.


WHILE TAKING OUT BIKE THE AUTHORITY TAKE HUGE TAXES AND EACH YEAR THEY ARE INCREASING THIRD PARTY TAXES AND IMPACTING ON THE CONSUMER POCKET. NOR GOVERNMENT IS INTERESTED TO CONTROL THE PRICES NOR IRDA IS INTERESTED WHILE SETTING UP RATE.


FIRST THIS GOVERNMENT IS NOT WORKING FOR COMMON MAN BUT WORKING FOR THE SALARY OF THE GOVERNMENT OFFICERS VIA CORPORATES WHO IN TURN CUT POCKET OF PERSON INDIRECTLY VIA TAXES AND EXPENSES. THERE IS NO CONTROL BY GOVERNMENT. IF CUSTOMER GOES WITH GOVERNMENT AGENCIES THEN THEY DELAY TOO MUCH AND MAKE THE WORK DELAYED.


THE SALARY STRUCTURE THEY DESIGN AFTER INCREASING THE TAXES OF INR FROM 50 TO INR 730( PA) IS THIS:


IRDAI -


Selected candidates will draw a starting basic pay of Rs.28, 150/- per month in the scale of Rs.28150-1550(4)-34350-1750(7)-46600-EB-1750(4)-53600-2000(1)-55600(17years) and other allowances, like Dearness Allowance, House Rent Allowance, City Compensatory Allowance, Grade Allowance, etc., as admissible from time to time. At present, initial monthly gross emoluments for Assistant Manager is approximately Rs.81, 000/-.


FOR PRIVATE THIS IS THE SALARY STRUCTURE WHICH THESE MINDED DO NOT THINK WHILE SETTING UP THE PA RATE OF INR 700 AND REGULATORY PERSON ON IT IN THE COUNTRY TO FOCUS ON EQUAL INCOME BEFORE INCREASING THE RATE.


BASIC - INR 12000


DA - INR "0"


HRA - 6000


CITY COMPENSATORY ALLOWANCE - INR "0"


GRADE ALLOWANCE - INR "0"


IF PERSON WORKS FOR 12 YEARS THE INCREASE IN SALARY GIVES AVERAGE INCOME OF INR 546 PER DAY.


SO, THEY DON'T THINK WHILE SETTING UP RATE OF INSURANCE BUT FOCUS ON THERE SALARY STRUCTURE. NOW, I WOULD ASK THE COUNTRY HEADS WHO SET THE STRUCTURE TO SELF REDUCE THERE SALARY OR DO NOT SIT IN IRDA UNLESS CONTROLLING IS NOT DONE AS PER CUSTOMER VIEW NOT AS PER CORPORATE BENEFIT VIEW AND RESPOND ONLINE SOLUTION FOR EATING THE MONEY OF PUBLIC SITTING IN POWER AND FOOLING TO TAKE VOTE AND EAT THE FLESH OF PEOPLE HARD EARNED MONEY AND SELF EATING THE RENTAL INCOME FROM THE CORPORATES.


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