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How To Save Yourself From Fraud Car Insurance?

Published On May 21, 2021, Updated On Jul 19, 2021

This article will give you the top 5 ways which you can adopt to save yourself from purchasing fraud car insurance.

Purchasing car insurance should be a carefully done process. It is very important to check the legitimacy of the company that you purchase the policy from. Buying fake insurance policies is not uncommon. Today, the technological advancements have enabled people to purchase car insurance online. Most of these fraudulent cases happen online. Therefore, it is always important to be aware of the various details of your policy and your insurance provider when you are purchasing car insurance. Read this article to get tips on how you can save yourself from purchasing fake insurance policies. 

How To Save Yourself From Fraud Car Insurance?

5 Ways You Can Avoid Buying Fake Insurance Policies

Fake insurance policies are the insurance policies that are provided by unauthorized insurance companies or providers. The following are the ways that you can adopt to save yourself from fraud car insurance providers- 

  • Purchase Your Car Insurance From Certified Insurance Providers

Purchasing car insurance can be done online or offline. Before you purchase your insurance, make sure that the company or the insurance provider is genuine. All Insurance providers must be licensed to legally provide insurance policies. You can verify the legitimacy of the insurance company online through their website credentials, reviews of the company and its reputation.  

  • Take The Premium Payment Receipt 

When you purchase car insurance, always ask for a receipt when you pay your insurance premium. It is always advised to pay online or by a cheque in the name of the company as it will have a record. Make sure the account you are paying to is genuine. The receipt of your insurance premium acts as the proof for the purchase. Ensure that you obtain a copy of the same and review it. Keep the receipt safe with you along with future documents.

  • Verify Through QR Code

QR code has been made mandatory for every insurance policy that is sold from December 2016 by the IRDAI (Insurance Regulatory Development Authority of India). Scanning the QR code of the policy will help you to verify the authenticity of your car insurance policy. Scan the image using your smartphone and you should be able to see the status and the details of your insurance policy in a new web page.

  • Read Your Insurance Policy

Not going through the documents of the car insurance policy is common. When you purchase your policy, ensure that you go through the documents carefully and verify all the terms and conditions before signing it. Your car insurance documents will contain important information such as the type of policy you chose and the add-ons, etc among other details. Check the details like the IDV, No-claim bonus, and any other deductibles as these are things that matter when you file an insurance claim. 

  • Never SIgn Blank Claim Forms 

When you claim your car insurance, you will be given a form to fill. This form will require you to fill all the details with respect to the misfortune incident that resulted in the loss. Signing a blank form gives scope for the providers or frauds to fake the details resulting in an insurance scam. Thus, ensure that you fill in the form properly and sign it. Never sign blank claim forms. 

Take Away

Cars are everyone’s prized possessions. Investing in an insurance policy to keep your car safe should be an informed decision. Purchasing a fake insurance policy can be frustrating and taxing to your finances.  Make sure you consider the above points before you purchase a car insurance and drive safely. 

Also Read 

All About Car Insurance Frauds In India

How to Cancel A Car Insurance Policy and Receive A Refund?

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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