• How To Check Whether Your Car Insurance Policy Is Fake

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    The overwhelming incidence of road accidents in India only indicate the importance of a comprehensive motor insurance policy for every vehicle that hits the road. As per the Motor Vehicles Act, it is necessary for all car owners to have vehicle insurance. The insurance will protect the car owner from financial liabilities such as lawsuits, car repair costs, fire damages, and vehicle theft. Most insurance companies also offer additional benefits such as personal accident cover for the named passengers, No Claim Bonus protection, zero depreciation cover, etc. in the form of add-on insurance coverage.

    Commercial entities are also required to buy motor insurance to protect third-parties and their own drivers from accidents. All in all, every vehicle on the road, irrespective of whether it is used for private or commercial purposes needs motor insurance. However, it is crucial that you buy it from a trusted source, as there have been several instances of car insurance fraud in the country, resulting in heavy losses to the stakeholders.

    Why Should You Check The Authenticity Of The Insurer?

    If you are being offered extremely attractive premium rates on a car insurance policy, you may be tempted to buy the same. However, you should understand the coverage offered by the plan and check the reliability of the insurer in the market before you sign on the dotted line.

    Imagine a situation wherein you got involved in a car accident and you realise the fact that there were additional terms/exclusions in the policy document that prevents you from claiming insurance for the damages! In order to avoid such instances, it is best to be well aware of your motor insurance coverage - even if that means you have to unravel the meaning of complicated financial jargons in the policy documentation.

    You also have to investigate on the genuineness of the insurance agent from whom you will be purchasing motor insurance. There have been several reports in newspapers detailing insurance fraud through fake policies. So checking the genuineness of the policy you buy is a very crucial step.

    How To Check The Authenticity Of The Policy

    Listed below are some steps in which you can check whether your motor insurance plan is genuine or not:

    1. Check the existence of the policy online - You can get details of most car insurance products by visiting the websites of insurance companies. You can also receive this information from policy comparison websites.
    2. Buy from the insurer directly - The presence of intermediaries such as agents in car insurance sales makes the premiums go up, owing to processing and distribution costs. If you buy insurance directly from the website of the insurer, you stand to gain through lower premiums. The online purchase process is also deemed safer than traditional offline channels. In case you are buying from an agent, you should check his/her license as a safety measure.
    3. Get in touch with the insurer - The website of the insurance company usually has a toll-free number on which you can call to get clarifications for your queries. You can call the insurer to understand whether the policy you will be purchasing from an agent is valid or not. Alternatively, you can send an email to the insurer for the same. You can also walk in to the nearest branch of the insurance company and request for validation of the policy.
    4. Pay via cheque or credit card - It is recommended that you always pay the motor insurance premium through a cheque or a credit card. The payment process is safer when you do it online. This way, the payment will be made directly to the insurance company, and you will also have a record of the payment.
    5. Procure the premium payment receipt - Another important thing to do at the time of policy purchase is to ask for a receipt when you make the payment. In case the payment is done through a cheque, you should verify whether the cheque details such as bank name and account information are updated correctly in the receipt you get.
    6. Check essential information - Make sure that all the essential information about the policy is mentioned correctly. This includes the clauses pertaining to Insured Declared Value (IDV), No Claim Bonus (NCB), and deductibles. This is particularly important when you are getting the policy at a discounted rate. It could be possible that the insurance agent manipulated the NCB and IDV values to decrease the premium quote. In case you discover that the NCB or IDV is not mentioned as per your discussion with the agent, you should visit the insurance company to get it rectified. This is a crucial step to avoid hassles later on.
    7. Sign the proposal yourself - After you have verified all the terms and conditions of the policy and the details updated in your proposal form, you should sign it yourself. The proposal form usually contains details about the car’s engine capacity, fuel type, and existing policy details. It is recommended that you fill the form yourself, but in case you are unable to do so, you should sign it personally.
    8. Install QR code reading app - A QR code reading app on your mobile phone can evaluate the genuineness of your policy. The Insurance Regulatory and Development Authority of India (IRDAI) has mandated all motor insurance policies to have a QR code. Once a person scans the QR code, he/she will receive information regarding the policy on a real-time basis.

    The aforementioned tips will help you to drive worry-free as your money would be invested safely in a reliable insurance plan. This way, you can enjoy the policy benefits at the time of an accident without any unpleasant revelations.

    Car Insurance Reviews

  • Page 1 of 50 1 2 3 4 5
    • Reliance General Car Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I was using Reliance car insurance from last 1 year, i am not satisfied with the coverage value of this insurance policy. I do not have claim experience so far with this insurance policy. A premium of Rs 20000 has to be paid for this insurance policy.
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 25, 2018
    • United India Car Insurance
      "Good Policy"
      0.5 5.0/5 "Blown Away!"
      I have a car insurance with United India Insurance from last 6 months, they cover bumper to bumper as well as third party damages. I have not claimed anything so far with this insurance policy. I pay a premium of Rs 14000 which has to be paid every year.
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 25, 2018
    • Oriental Insurance Car Insurance
      "Good policy for car"
      0.5 4.0/5 "Great!"
      I have taken the car insurance from Oriental insurance and the premium for the policy is 6300. As the car is a second hand one there is no bumber to bumber. They only have zero depression,cashless garage, road assistance. The customer service is fine.
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 25, 2018
    • ICICI Lombard Car Insurance
      "Good"
      0.5 4.0/5 "Great!"
      The service of Icici Lambard car insurance service is awesome compared to others in the market. They collected all my documents directly which was an easy process. The payments are through online. It was a good experience with Icici Lambard car insurance service.
      Was this review helpful? 0
      , chennai
      Reviewed on Apr 24, 2018
    • HDFC Ergo Car Insurance
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      Hdfc Ergo car insurance service is good. The online portal is easy for navigation with lot of good options. They never asked for any documents as it was an paperless approval. The payments are through online. It was an good experience with Hdfc Ergo car insurance service.
      Was this review helpful? 0
      , chennai
      Reviewed on Apr 24, 2018
    • Tata AIG Car Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a car insurance with TATA AIG from last 3 months and it is a good insurance policy to use. They cover bumper to bumper as well as third party damages. I have not claimed anything so far with this insurance and i pay a premium of Rs 12000 for this insurance.
      Was this review helpful? 0
      , mumbai
      Reviewed on Apr 24, 2018
    • ICICI Lombard Car Insurance
      "Good"
      0.5 4.0/5 "Great!"
      I directly purchased my car insurance service from the showroom through Icici. The payments are through cheques. They use to intimate regularly. The payments are through cheques. The staffs where friendly during the process. It was an good experience with Icici car insurance service.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Apr 23, 2018
    • ICICI Lombard Car Insurance
      "Average Policy"
      0.5 3.0/5 "Satisfactory"
      I have my car insured with ICICI lombard from last 7 years, my claim experience was not up to the mark with this car insurance policy as they covered only bumper to bumper damage. I got a coverage value of Rs 2000 for this claim experience. I pay a premium of Rs 6000 for this insurance.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 20, 2018
    • HDFC Ergo Car Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have my car insured with HDFC ERGO from last 2 years, i am happy with the coverage value of this car insurance. I do not have claim experience so far with this car insurance. They cover bumper to bumper as well as third party damages. I pay a premium of Rs 17000 for this insurance.
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 20, 2018
    • ICICI Lombard Car Insurance
      "ICICI LOMBARD Car Insurance"
      0.5 5.0/5 "Blown Away!"
      I have taken a car insurance with ICICI lombard and the premium is 28000. They provide bumber to bumber, road assistance, cashless garages, zero depression, accidental coverage to the first party and the third party. While comparing its a good policy.
      Was this review helpful? 0
      , chennai
      Reviewed on Apr 20, 2018
    • National Insurance Car Insurance
      "Good policy for car"
      0.5 3.0/5 "Satisfactory"
      I have taken a car insurance from National insurance and the premium amount is 9000. There was no bumber to bumber included with this policy as it was an old car. They include accidental insurance, and third party coverage. I have to renew the policy every year.
      Was this review helpful? 0
      , chennai
      Reviewed on Apr 20, 2018
    • ICICI Lombard Car Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have my car insured with ICICI lombard from last 1 year, i am happy with the coverage value of this insurance policy. I have not claimed anything so far with this insurance. I am not aware of the premium amount of this car insurance. They cover only bumper to bumper damages for this insurance.
      Was this review helpful? 0
      , new delhi
      Reviewed on Apr 19, 2018
    • HDFC Ergo Car Insurance
      "Car insurance with HDFC ERGO"
      0.5 5.0/5 "Blown Away!"
      I have taken the car insurance with HDFC Ergo and the yearly premium which i am paying is 20000. The provide bumber to bumber cashless garage, road assistance and accidental insurance as well. And yearly i have to renew the policy.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Apr 19, 2018
    • Shriram Car Insurance
      "Good service"
      0.5 4.0/5 "Great!"
      Recently I have renewed the car insurance from the SHRIRAM GENERAL INSURANCE company. The customer support service and the response is good with the Shriram because they give reminders to renew the policy before the due date. I have paid Rs,12,000 to renew the car insurance from the SHRIRAM GENERAL INSURANCE company.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 19, 2018
    • Oriental Insurance Car Insurance
      "Good car policy"
      0.5 5.0/5 "Blown Away!"
      I have taken a car insurance with ORIENTAL INSURANCE and the premium which i am paying is 14000 which i have to renew yearly.The benefits include bumber to bumber, road assistance, cashless and accidental insurance as well. I don't have any claim experience but its a good policy.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Apr 18, 2018
    • Iffco Tokio Car Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I have my car insured with IFFCO TOKYO from more than 1 year, i had a very good claim experience and they covered 80-90% of the billed amount. This policy covers only bumper to bumper and third party damages. A premium of Rs 30000 has to be paid for this insurance.
      Was this review helpful? 0
      , chennai
      Reviewed on Apr 17, 2018
    • review Car Insurance
      "Very good policy to use"
      0.5 5.0/5 "Blown Away!"
      Got the car insurance policy from the Bharathi axis general insurance company around 5 months ago. I have paid around Rs,40,000 to get this policy this year, because this policy covers bumper to bumper benefits and the policy coverage is good with this policy.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Apr 17, 2018
    • National Insurance Car Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I am having a car insurance with National insurance from last 10 years, i have a very good coverage value for this car insurance. I do not have any claim experience so far with this car insurance. A premium of Rs 2500-3000 has to be paid for this car insurance.
      Was this review helpful? 0
      , faridabad
      Reviewed on Apr 17, 2018
    • HDFC Ergo Car Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a car insurance with HDFC ERGO from last 3 years, i am happy with the coverage valye of this policy, they cover bumper to bumper as well as third party damages. I have not claimed anything so far with this insurance and the premium amount of this insurance is Rs 13000-14000.
      Was this review helpful? 0
      , kolkata
      Reviewed on Apr 16, 2018
    • Reliance General Car Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a car insurance with Reliance from last 2 years, i do not have any claim experience so far with this car insurance. I pay an insurance premium of Rs 30000 every year. I am happy with the coverage of this insurance and they cover bumper to bumper as well as third party.
      Was this review helpful? 0
      , pune
      Reviewed on Apr 14, 2018
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