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Ways To Check Whether Your Bike Insurance Policy Is Fake Or Genuine

Published On Aug 03, 2022 11:00 AM By InsuranceDekho

Ways To Check Whether Your Bike Insurance Policy Is Fake Or Genuine

It is important to shop for bike insurance online and evaluate all the options accessible to you, both for increased convenience and to make sure you obtain the best cost and coverage depending on your needs and preferences. However, when buying insurance online, you can be unsure if what you're getting is legitimate coverage. People frequently fall for fraudulent insurance while purchasing coverage online. Learn some hints and techniques to determine whether a bike insurance coverage is legitimate or not.

How Can I Tell If A Bike Insurance Policy Is Real?

After considerable searching, you eventually discovered two-wheeler insurance online at a price well below the industry standard. Although you might believe that your efforts have finally paid off, are you certain that the insurance you are buying is real? Online insurance is really quick and handy, but it's also the most popular way for customers to be conned by bogus plans. So how can you tell a phony two-wheeler insurance policy from a real one? Here are some pointers that may be useful:

Policy Records

When a consumer buys insurance online, a prevalent issue is deceptive advertising, where a dishonest insurer will promise one thing while really providing another. A different IDV or free add-ons that are not really included in the policy when it is purchased might be the cause of this. Make sure to carefully review the policy documents to confirm that they correspond with what you have agreed to pay for in order to prevent this from occurring to you. The claimed policy duration or premium amount may be incorrect in a phony insurance paper. It can have a shorter duration than you had anticipated or a greater premium. Contact your insurer and be cautious that it can be a fake insurance if you discover any such irregularities in the policy paperwork.

Code QR

The IRDAI (Insurance Regulatory and Development Authority of India) has mandated that all policy documents issued by insurance firms have a QR code written on them. When checking your policy papers to make sure it is authentic, this QR code is quite helpful. You probably bought a fake policy if the QR code is missing from the policy paper. 

Link for Policy Verification

It is better to buy insurance online from the official website of the insurance company or from an official marketplace that enables you to buy insurance plans from several insurance providers. Most insurance providers will include a link on their website that enables you to check the validity of a policy you have purchased, making it simple for you to determine if your coverage is real and verifiable or whether it is fake.

Check the Credibility of the Selected Insurance Agent

Few individuals believe that buying a bike insurance coverage from an insurance agent is secure and trustworthy. But it is important to verify the legitimacy of the selected insurance agency before concluding any contract with them. Verify with the relevant authorities that the agent's identification, license number, badge, and other pertinent details are correct.

Acquire Receipts

It is always advisable to request receipts for every financial transaction in order to prevent any future issues. These documents confirm that the premium payment has been received. Asking for a receipt whenever working with an agent, dealer, or middleman should become routine.

Take Away

Now that you're informed, you can make sure that any coverage you buy online is legitimate. After buying a bike insurance coverage, be careful to look into all of these details to ensure that it is legitimate and that you are getting the benefits you paid for.

Also read: Important Bike Riding Tips For Teenagers

5 Important Factors to Compare Bike Insurance Online

Disclaimer

This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.
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