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

 4.5 / 5.0   by 2289 users
Used this product? Write a review >>

Policy Coverage

Customer Service

Claim Experience

Responsiveness

Cashless Garages

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
  • HDFC Ergo Car Insurance
    "Very good"
    0.5 5.0/5 "Blown Away!"
    Even my car was insured with HDFC Ergo. It is a second-end car and have chosen the third party insurance. I have not done any claim so far. The premium is reasonable. It offers bumper to bumper facility and road side assistance. The policy period is 2 years.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 14, 2019
  • Tata AIG Car Insurance
    "Good Insurer"
    0.5 5.0/5 "Blown Away!"
    My financier suggested the Tata Aig general insurance, the premium is economical for the car policy. I have honda amaze car it got insured with them. The insurance company is providing 24 hours service, cash less garages, brake down service for the tenure of four years. On time I got the papers from the Tata Aig.
    Was this review helpful? 1
    , tirupur
    Reviewed on Jan 10, 2019
  • Tata AIG Car Insurance
    "Good Insurer"
    0.5 5.0/5 "Blown Away!"
    My financier suggested the Tata Aig general insurance, the premium is economical for the car policy. I have honda amaze car it got insured with them. The insurance company is providing 24 hours service, cash less garages, brake down service for the tenure of four years. On time I got the papers from the Tata Aig.
    Was this review helpful? 0
    , mumbai
    Reviewed on Jan 10, 2019
  • National Insurance Car Insurance
    "Excellent Service"
    0.5 5.0/5 "Blown Away!"
    I had taken this Insurance policy for my Maruti Car and i had been paying the premium on an annual basis. The premium amount has not been too high and there has been cash less garages available with this insurance policy. Their customer support has also been helpful at times.
    Was this review helpful? 1
    , pune
    Reviewed on Jan 09, 2019
  • ICICI Lombard Car Insurance
    "Nice Policy"
    0.5 4.0/5 "Great!"
    My car was insured with ICICI Lombard. Last year i have purchased this insurance policy. My wife has referred me about this policy. I pay the premium amount of Rs. 13500. They have given me a convenient IDV value. I had no claim experience so far.
    Was this review helpful? 0
    , new delhi
    Reviewed on Jan 09, 2019
  • New India Car Insurance
    "Need to improve the service"
    0.5 3.0/5 "Satisfactory"
    I'm not satisfied with the service provided by new India. I have bought the car insurance policy. They closed their branch on every weekends hence its difficult to renew the policy. I have been paying the premium amount of Rs. 14000 which is a competitive price. They have given the IDV value of Rs. 1.50 lakhs.
    Was this review helpful? 0
    , mangalore
    Reviewed on Jan 09, 2019
  • New India Car Insurance
    "Average Car Insurance"
    0.5 3.0/5 "Satisfactory"
    My car insured with the New India Insurance company. I have been renewing the policy with the same company for 3 years. I have paid the premium amount of Rs. 7000 and they have offered me a satisfied coverage value. The documentation process was fine
    Was this review helpful? 0
    , mangalore
    Reviewed on Jan 09, 2019
  • review Car Insurance
    "Its Good"
    0.5 3.5/5 "Pretty good"
    Last year I had car policy with Bharthi axa whenever I try to renew it ask my poliy no, whenever I mention the same, it shows the its incorrect. If I try to reach the customer care its not reachable. I done the claim, some minor damage back side of the car, they have processing fee 1500. Remaining all taken care by the insurer.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 08, 2019
  • ICICI Lombard Car Insurance
    "Great Policy"
    0.5 4.0/5 "Great!"
    ICICI Lombard has a good brand value hence i have selected the car insurance policy with this card and the dealer has also recommended about this policy. I pay the premium amount of Rs. 9000 and this is a 100% coverage with bumper to bumper facility. I'm not sure about the IDV value. Its easy to renew the policy.
    Was this review helpful? 2
    , new delhi
    Reviewed on Jan 08, 2019
  • ICICI Lombard Car Insurance
    "Good"
    0.5 5.0/5 "Blown Away!"
    Previously my car was insured was with ICICI Lombard and it was offered by the showroom. I got a call from the representative for the policy renewal as reminder. I got the insurance paper. I have not done done a claim. It is a comprehensive with zero dep. The premium was high so changed my insurer.
    Was this review helpful? 1
    , mumbai
    Reviewed on Jan 08, 2019
  • Future Generali Car Insurance
    "Good"
    0.5 4.0/5 "Great!"
    I have taken a car insurance from Future Generali through online portal. The premium was reasonable and also they have provide bumper to bumper facility. The policy period is one year. There is no interaction between the customer service. I just gave my car for the claim so no experience.
    Was this review helpful? 0
    , mumbai
    Reviewed on Jan 08, 2019
  • Oriental Insurance Car Insurance
    "Good insurance company"
    0.5 2.0/5 "Expected more"
    Dealer has referred me about this oriental car insurance when i purchase the vehicle. They have rejected the claim since the copy of FIT is not available. They have given me a coverage value upto Rs. 6 lakhs. For the past 3 years i have been renewed the policy with the same company.
    Was this review helpful? 1
    , chennai
    Reviewed on Jan 07, 2019
  • Iffco Tokio Car Insurance
    "Good Policy and you can try"
    0.5 4.0/5 "Great!"
    Two months before, i have taken my car insurance policy with Iffco Tokio. Its a PAN India agreement policy for my Maruti Car. I don't remember about the coverage value. This is a zero depreciation policy. I paid the premium amount of Rs. 6500. I have not seen any add on and cashless garage facility.
    Was this review helpful? 1
    , chennai
    Reviewed on Jan 07, 2019
  • Reliance General Car Insurance
    "Its Excellent"
    0.5 4.0/5 "Great!"
    My brother is working with Reliance hence I took my two wheeler policy from this insurance company. I have hyundai accent car, they are providing cash less garages for the damage. I have zero depreciation bumper to bumper policy for the term of one year.
    Was this review helpful? 0
    , mumbai
    Reviewed on Jan 07, 2019
  • Reliance General Car Insurance
    "Good Policy"
    0.5 5.0/5 "Blown Away!"
    My car insurance policy was taken with reliance. The dealer has provided me a policy with this policy. This is a 100% coverage value which covers the bumper to bumper facility, They have given me a IDV value of Rs. 11 lakhs. I pay the premium amount of RS. 33000.
    Was this review helpful? 0
    , thane
    Reviewed on Jan 04, 2019
  • HDFC Ergo Car Insurance
    "Good service provider"
    0.5 4.5/5 "Excellent!"
    The reason to avail HDFC Ergo policy, my banker have suggest this insurer for my car. They gave me the best insured value around Rs. 6 lakhs based on the vehicle age. I have Hyundai I20 car, they are providing 24/7 helpline and cashless service.
    Was this review helpful? 0
    , chennai
    Reviewed on Jan 04, 2019
  • ICICI Lombard Car Insurance
    "Good Policy to take"
    0.5 3.0/5 "Satisfactory"
    My car was insured with ICICI Lombard. I pay the premium amount of Rs. 22000 and i have been renewing the policy continuously for 2 years. They have provided me a no claim bonus. Its covered with bumper to bumper facility. My dealer has recommended me about this policy when i purchase a car.
    Was this review helpful? 1
    , chennai
    Reviewed on Jan 03, 2019
  • Iffco Tokio Car Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    I have a car insurance with IFFCO TOKYO from last 1 year, there was no claim experience so far with this insurance policy. I pay a premium of Rs 5500 for this car insurance. This is a first party insurance with 0% depreciation and the coverage value is good.
    Was this review helpful? 0
    , new delhi
    Reviewed on Jan 03, 2019
  • Bajaj Allianz Car Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    I have a car insurance policy with Bajaj allianz from last 2 years, a premium of Rs 13000 has to be paid for this insurance policy. There was no claim experience so far with this car insurance. This policy has full coverage with 0% depreciation.
    Was this review helpful? 0
    , secunderabad
    Reviewed on Jan 03, 2019
  • Tata AIG Car Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    I am having a car insurance with TATA AIG from last 1 year, a premium of Rs 7272 has to be paid for this car insurance policy. I did not claim anything so far from this insurance policy. I am happy with the plan benefits and policy coverage of this insurance.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jan 03, 2019
Common Loader Icon
Page 1 of 50 1 2 3 4 5

Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

reTH65gcmBgCJ7k
This Page is BLOCKED as it is using Iframes.