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
    • Royal Sundaram Car Insurance
      "Good"
      0.5 3.5/5 "Pretty good"
      I have taken my car insurance with Royal Sundaram. The policy coverage is good. The premium is on the costlier side when compared to TATA AIG and ICICI Lombard. Likewise the benefits are also not up to the mark. They are not covering electric and non electric parts and plastic as well.
      Was this review helpful? 0
      , vadodara
      Reviewed on Sep 18, 2018
    • HDFC Ergo Car Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      My car is insured with HDFC ERGO for 1 year, i am happy with the policy benefits and plan coverage of this insurance policy. A insurance premium of Rs 18000 has to be paid for this insurance policy. This policy includes full coverage.
      Was this review helpful? 1
      , gulbarga
      Reviewed on Sep 12, 2018
    • Oriental Insurance Car Insurance
      "Average Policy"
      0.5 3.0/5 "Satisfactory"
      I have taken a car insurance with Oriental insurance for 1 year, i am happy with the coverage value of this insurance policy. I have to pay an insurance premium of Rs 5000 for this insurance. Customer service was good and they explained everything about the policy terms and conditions.
      Was this review helpful? 1
      , chennai
      Reviewed on Sep 12, 2018
    • Tata AIG Car Insurance
      "Average Policy"
      0.5 3.0/5 "Satisfactory"
      My car insurance is with TATA AIG and i have taken this policy for 1 year. I have to pay an insurance premium of Rs 9000 for this insurance. They cover bumper to bumper damages and i am happy with the coverage value of this insurance policy.
      Was this review helpful? 1
      , bangalore
      Reviewed on Sep 12, 2018
    • Reliance General Car Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have taken a car insurance with Reliance general insurance for 1 year, a premium of Rs 7600 has to be paid for this insurance policy. I am happy with the coverage value of this insurance policy. This policy has a basic coverage and i am satisfied with it.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Sep 12, 2018
    • Reliance General Car Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      My car insurance is with Reliance general for 1 year and it is a good insurance policy to use. I pay a premium of Rs 25000 for this insurance policy and it has full coverage. I am satisfied with the terms and conditions explained by the customer service of this insurance.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Sep 12, 2018
    • National Insurance Car Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I have taken a car insurance with National insurance for 1 year, I have to pay a premium of Rs 10000 for this health insurance policy. The benefits of this car insurance is, it is 0% depreciation and it has a full coverage. Customer service was very good and their response was on time.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Sep 12, 2018
    • Iffco Tokio Car Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have my car insured with IFFCO TOKYO and i have taken this insurance for 1 year, it is a zero depreciation and it has a full coverage. A premium of Rs 21808 has to be paid for this insurance policy. I am happy with the coverage value of this insurance policy.
      Was this review helpful? 0
      , palanpur
      Reviewed on Sep 12, 2018
    • National Insurance Car Insurance
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      My Car insured with the National Insurance. I am paying a premium of 3000, I do not have any claim experience with the policy and it offers features as cashless garage and roadside assistance. So far it has been an hassle free experience with their services.
      Was this review helpful? 0
      , lucknow
      Reviewed on Sep 11, 2018
    • National Insurance Car Insurance
      "Fraud on insurance"
      0.5 1.0/5 "Really Bad"
      Loan Acc No : 5002098252 TN22 DD 7996 Based on the guidance of the officials who works at T nagar branch, Chennai, i did the insurance. They told me hereafter insurance is to be renewed by myself as my insurance alliance with TMF was cancelled so i did insurance myself. But now they are not responding for refund my money. So please pay back my money which i have paid so far.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 11, 2018
    • review Car Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have taken a car insurance policy with Bharti AXA for 1 year, a premium of Rs 15000 has to be paid for this insurance policy. I am happy with the coverage value of this insurance policy. No claim experience so far and they cover bumper to bumper damage.
      Was this review helpful? 1
      , bangalore
      Reviewed on Sep 08, 2018
    • HDFC Ergo Car Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      My car is insured with HDFC ERGO and i have taken this insurance for 1 year, a premium of Rs 21000 has to be paid for this insurance policy. The benefits of this insurance is, there is full coverage for this insurance and they can cover up to 90%.
      Was this review helpful? 1
      , ahmedabad
      Reviewed on Sep 08, 2018
    • HDFC Ergo Car Insurance
      "Good Policy"
      0.5 5.0/5 "Blown Away!"
      I have my car insured with HDFC ERGO and i have taken this insurance for 1 year. I am not aware of the premium amount for this insurance policy. They cover bumper to bumper damage for this insurance policy and the customer service was good with this insurance.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 08, 2018
    • review Car Insurance
      "Good Policy"
      0.5 3.0/5 "Satisfactory"
      I have taken a car insurance policy with Bharti Axa general insurance for 1 year, i am happy with the coverage value of this insurance policy. I have to pay a premium of Rs 12500 for this insurance policy. Customer service was good and they explained about the insurance in detail.
      Was this review helpful? 1
      , pune
      Reviewed on Sep 08, 2018
    • New India Car Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have taken car insurance policy with New India Assurance for 1 year, a premium of Rs 29000 has to be paid for this insurance policy. This policy covers full coverage and i am happy with the coverage value. Customer service was good as they explained about the insurance terms and conditions.
      Was this review helpful? 0
      , pune
      Reviewed on Sep 08, 2018
    • Shriram Car Insurance
      "More than satisfactory"
      0.5 5.0/5 "Blown Away!"
      My car insurance is with Shriram Finance. The services and response is good. I was able to get the policy on time and with ease. They have also provided a good policy coverage. There are good benefits like road side assistance and the premium is normal.
      Was this review helpful? 0
      , indore
      Reviewed on Sep 07, 2018
    • Bajaj Allianz Car Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      My car is insured with Bajaj Allianz from last 10 years and it is a good policy to use. I pay a premium of Rs 5000 for this insurance policy. I have claimed this insurance 4 years back and they covered 80% and i am happy with the coverage value of this insurance policy.
      Was this review helpful? 1
      , kolkata
      Reviewed on Sep 06, 2018
    • United India Car Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a car insurance policy with United India Insurance from last 1 year, i am happy with the coverage value of this insurance policy. A premium of Rs 24000 has to be paid for this car insurance policy. They cover bumper to bumper damages for this car insurance.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 06, 2018
    • HDFC Ergo Car Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have my car insured with HDFC ERGO from last 1 year and it is a good policy to use. I have to pay a premium of Rs 19000 for this insurance policy. I have not claimed anything so far from this insurance policy and they cover bumper to bumper damage.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Sep 06, 2018
    • New India Car Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      MY car insurance is with NEw India Assurance from last 4 years and it is a good policy to use. I am not sure about the premium amount but they cover bumper to bumper damage. My claim experiecnce was good with this insurance policy. Customer service was good with this insurance and they responded on time.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 05, 2018
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