I bought a bike insurance for my Yamaha RXG. DL 4S S 5645. The bike was stolen in dec 2002 and since then it has been a cat and mouse game with the insurance company. First of all the company offered 10, 000 for the bike and then they offered 15, 000 after 1 yr i.e in 2003 once the complaint was forwarded to IRDA.

My point is that the bike was comprehensively insured for 30, 000. Insurance company took the premium for the same amount. When it comes to pay back they want to pay less. I never asked them to insure my bike for 30, 000. It was there own calculation and once I have paid the premium in time why are they delaying the disbursement. Every time they send me 7-8 th reminder without even sending me the first ones. THey ask for a approval letter that I accept 15, 000 as a settlement. Rest all the documents were submitted to the insurance company immediately after the theft. Only the no search report was send after 4 months i.e in march, as the police takes this time.

Still the insurance company has delayed upon the matter for so long.