Tips for a safe Car Insurance buying experience

This article was last updated on April 16, 2022

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Driving on Indian roads is risky due to increased traffic and rash driving cases. This has resulted in the government mandating Auto Insurance. Even if it is compulsory, it is crucial for your safety, just like Health Insurance. It protects you against third party liability and vehicle damage.

So, if you have a four-wheeler, you need Car Insurance to ply on Indian roads. But many treat it as an obligation and buy the first offer they get. This practice makes you lose out on offers and settle for less. You might even end up paying a higher premium without comparison. Above all this, it provides fake insurers with an opportunity to trap you.

They are unrecognisable if you do not pay attention. So, it is essential to analyse all the insurance offers carefully.

Unverified agents: It is okay to prefer agents as they guide you through the process. They also make things easier when it comes to documentation. However, not all are trustable. Many agents pose as genuine intermediaries but are primarily scammers. It is essential to check their authenticity before proceeding. Hence, do a thorough background check against them. Also, ask for their ID and contact the insurance company to verify the same.

Research the insurer: When you buy a car, you get bombarded with messages of affordable quotations. Before you consider them, take a moment to stop and think. Are they legitimate? Why are the offers favourable? Just like agents, some policy providers are posers. Always buy a valid Car Insurance Policy. So, it is crucial to research them. This leaves no room for misjudgement and helps you make an informed decision.

Consider reputation: Another safest way is to ignore the unknown insurers altogether. They take up your time in digging information. The reputed insurance providers have an established name and goodwill in the market. Therefore, you can rest assured knowing you are buying a genuine Car Policy. They also have more material available for you to compare them against other providers.

Use verification link: Almost all insurance providers have a verification link on their website. You are free to use it after you buy Car Insurance online or offline. It lets you check the validity of your policy by entering the insurance number. It is the easiest way to ascertain its genuineness. If the insurer does not have it, the policy is likely fake.

You should also check if the policy provider has a verification QR code on the policy papers. The Insurance Regulatory and Development Authority of India (IRDAI) has mandated this for every policy.

Ask for receipt: Even if you choose to buy the 4-Wheeler Insurance offline, get a receipt. This is given when you make the first premium payment. It contains your cheque number, payment date, premium amount, etc. It acts as proof of transaction. Check for the accuracy of the same. So, if anything wrong happens, it comes in handy in filing a complaint.

Buy online: Anything done online becomes permanent proof. Hence, it is always advisable to make digital payments. The easiest way to do this is by buying online car insurance. It allows record keeping. It is also a great way to understand the insurers' terms and policies closely.