Insurance is like a spare tyre. You may not require it, but not having one is not an option.
  • 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
    • National Insurance Car Insurance
      "Good insurance for car"
      0.5 5.0/5 "Blown Away!"
      When i purchase my car, they have provided the car insurance policy with National and they have charged me a premium amount of Rs. 14000. I have taken a one time claim. The claim experience was very good. They have given me a claim amount of Rs. 11000. The claim was fully cashless covered. I pay for the consumable items
      Was this review helpful? 0
      , dehradun
      Reviewed on Nov 13, 2018
    • New India Car Insurance
      "Good policy"
      0.5 5.0/5 "Blown Away!"
      My Maruthi Swift car got the insured declared value of Rs. 5 lakhs with New India company. I have comprehensive plan with bumper to bumper it covers loss, damage, accidental cover with life cover for the driver for maximum of one lakh. If we pay Rs.50 rupees extra with the premium.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 12, 2018
    • National Insurance Car Insurance
      "Good Policy for four wheeler"
      0.5 5.0/5 "Blown Away!"
      National insurance is good, I have been holding the car policy with them around one year. My car showroom person have suggested this policy, I got better insured declared vehicle. Its new car brand swift dezire with bumper to bumper protection.
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 09, 2018
    • Iffco Tokio Car Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      The dealer have suggested the IFFCO TOKIYO car policy, I got the better IDV value for bumper to bumper zero depreciation plan. I got the policy documents on time, I had a claim once, I directly approached the dealer they taken money from the cover. But I have paid 20 to 30% of amount according to the parts which was not covered.
      Was this review helpful? 1
      , chennai
      Reviewed on Nov 05, 2018
    • United India Car Insurance
      "GOOD"
      0.5 4.0/5 "Great!"
      I have taken the card insurance where i have a good experience with this policy. I have experienced with the claim which is reimbursement and i got no complete claim. The policy coverage is for basic but the premium and the IDV value is good with this policy.
      Was this review helpful? 0
      , kota
      Reviewed on Nov 04, 2018
    • United India Car Insurance
      "GOOD"
      0.5 4.0/5 "Great!"
      I have purchased the two wheeler policy with the UNITED INDIA INSURANCE and i am using it from past three years where i am facing with no issues with this policy. I have no claim experience added on that the premium and also the IDV value is good with this policy.
      Was this review helpful? 0
      , kota
      Reviewed on Nov 04, 2018
    • Reliance General Car Insurance
      "Excellent"
      0.5 4.0/5 "Great!"
      When I purchased a car, the showroom has offered me a car insurance with Reliance. I have paid 12,000 rupees for this policy. The customer support is excellent. The claim experience is excellent and have applied for accidental claim, It was approved within few more days, zero depreciation was provided, All items been replaced of the car.The policy coverage is good, bumper to bumper offer is available. Every year am renewing my insurance only with RELIANCE.
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 03, 2018
    • HDFC Ergo Car Insurance
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      I have compared in online for car insurance and gone for HDFC Ergo. The top one is Reliance and HDFC, though reliance is providing more benefits since I know HDFC is very well so opted for HDFC Ergo. It is a easy process. No claim gone till now. I have paid 12K to purchase and bumper to bumper offer is available.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 02, 2018
    • Liberty Car Insurance
      "Hopeless company"
      0.5 1.0/5 "Really Bad"
      They have literally detrayed me when i apply for a claim. There are some issue with the policy documents itself. When I met with an accident they said they will process the claim. After 3 days they said there is an issue with the policy. I called the customer care service but no one was picked up the call. After 4 days, they have issued the new policy and i got the car after 7 working days only from the garages.
      Was this review helpful? 1
      , bangalore
      Reviewed on Nov 01, 2018
    • Bajaj Allianz Car Insurance
      "Superb Policy"
      0.5 5.0/5 "Blown Away!"
      I selected Bajaj Allianz for my car. I chosen the company because of the lower premium rates. They have sent all my documents to my residential address. They do have regular follow up with the customer regarding the car insurance. I never had any issues with this policy. I pay the premium amount of Rs. 6300 and i have not availed the bumper to bumper facility. They have provided me the no claim bonus upto 50%.
      Was this review helpful? 2
      , bangalore
      Reviewed on Nov 01, 2018
    • HDFC Ergo Car Insurance
      "Good Policy"
      0.5 5.0/5 "Blown Away!"
      I hold a car insurance policy with HDFC ERGO from last 1 year, I am not aware of the premium amount for this insurance policy. I have no claim experience so far with this insurance policy. I am happy with the coverage value of this insurance policy.
      Was this review helpful? 0
      , pune
      Reviewed on Nov 01, 2018
    • Bajaj Allianz Car Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I am having a car insurance policy with Bajaj Allianz and i have taken this policy for 2 years. A premium of Rs 17000 has to be paid for this insurance policy. I have no claim experience so far with this insurance policy and this policy has full coverage with 0% depreciation.
      Was this review helpful? 1
      , nellore
      Reviewed on Oct 31, 2018
    • HDFC Ergo Car Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      My car is insured with HDFC ERGO from last 1 year and it is a good insurance policy. I pay a premium of Rs 5000 for this car insurance policy. I have no claim experience so far with this car insurance policy. This policy covers only bumper to bumper damage.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 31, 2018
    • HDFC Ergo Car Insurance
      "Good Policy"
      0.5 3.5/5 "Pretty good"
      I hold a car insurance policy with HDFC ERGO from last 1 year, a premium of Rs 15000 has to be paid for this insurance policy. I have no claim experience so far with this insurance policy. This policy has full coverage with 0% depreciation.
      Was this review helpful? 0
      , jabalpur
      Reviewed on Oct 31, 2018
    • SBI General Car Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      My car is insured with SBI general insurance and i have taken this policy for 1 year. A premium of Rs 39000 has to be paid for this car insurance policy. I have not claimed anything so far with this insurance policy. This policy has full coverage with 0% depreciation.
      Was this review helpful? 1
      , sangli
      Reviewed on Oct 31, 2018
    • HDFC Ergo Car Insurance
      "Good Policy"
      0.5 3.0/5 "Satisfactory"
      I hold a car insurance policy with HDFC ERGO from last 1 year, a premium of Rs 15000 has to be paid for this insurance policy. I have taken this policy for 3 years. I have no claim experience so far with this insurance policy. This policy covers only 3rd party damage.
      Was this review helpful? 0
      , thane
      Reviewed on Oct 31, 2018
    • New India Car Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I have my car insurance with national insurance and i have taken this policy for 1 year. A premium of Rs 16000-17000 has to be paid for this insurance policy. I have not claimed anything so far from this insurance policy and this policy has full coverage with 0% depreciation,.
      Was this review helpful? 0
      , jodhpur
      Reviewed on Oct 31, 2018
    • HDFC Ergo Car Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have taken car insurance with HDFC ERGO for 1 year, a premium of Rs 33000 has to be paid for this insurance policy. I have no claim experience so far with this car insurance policy. This policy has full coverage with 0% depreciation.
      Was this review helpful? 0
      , mumbai
      Reviewed on Oct 31, 2018
    • New India Car Insurance
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      The experience with them so far had been good and i had been paying the premium annually. The premium amount of 5700 has been nominal and i had been paying the premium offline and it had been convenient. The policy covers bumper to bumper.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Oct 31, 2018
    • HDFC Ergo Car Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I have taken a car insurance policy with HDFC ERGO for 1 year, A premium of Rs 7000 has to paid for this insurance policy. My claim experience was good with this insurance and they provided cashless garage. This policy has full coverage.
      Was this review helpful? 1
      , navi mumbai
      Reviewed on Oct 30, 2018
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