Car Insurance Tips: In today’s digital age, getting car insurance has become very easy, but along with this, cases of insurance fraud have also increased rapidly. Often, people are tempted by low premiums and heavy discounts and end up buying fake insurance policies. Later, when it’s time to file a claim after an accident or damage, they find out that the policy wasn’t genuine. To avoid such a situation, it is essential to carefully check some important things while buying insurance.
Understand the Policy Document Carefully
Fake insurance can be identified first and foremost by its documents. The policy papers should correctly state your name, vehicle registration number, engine and chassis number, and the policy period. It is crucial to verify all this information online on the insurance company’s official website.
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How to Confirm IRDAI Approval
In India, only those insurance companies are considered valid that have been approved by IRDAI. Before buying insurance, you should search for the company’s name on the IRDAI website. If the company is not listed there, trusting that policy can be risky.
Identify a Genuine Policy with the UID Number
Every valid insurance policy is given a unique UID number, which is issued by IRDAI. This number identifies the authenticity of the policy. If your policy does not have a UID number, you should be cautious.
Verify Instantly with the QR Code
Nowadays, most genuine insurance policy documents have a QR code. Scanning this QR code with a mobile phone reveals all the information related to the policy. Fake policies either don’t have a QR code or the code doesn’t scan.
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Use the Correct Payment Method
When buying insurance, always make the payment directly to the insurance company. Avoid transferring money to an agent or a private account. Paying through digital payment or check ensures that the transaction record is secure. Why it’s important to confirm with customer care
If you have even the slightest doubt about the policy, contact the company’s customer care directly. You can confirm its validity by sharing the policy details.
Don’t forget to get the e-policy
A genuine insurance policy is always sent via email in PDF format. If an agent is only providing a paper copy and avoiding providing an e-policy, it could be a sign of fraud.
Types of Car Insurance
In India, car insurance is mainly of three types. Third-party insurance is legally mandatory and covers damage caused to a third person or vehicle by your car. Own damage insurance protects your own car from damage due to accidents, fire, theft, or natural disasters. Comprehensive insurance provides coverage for both and offers the most comprehensive protection.