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How To Check Insurance Policy Fake Or Real?

It is important to shop for bike insurance policy online and evaluate all the options accessible to you, both for greater convenience and to ensure that you get the best cost and coverage based on your needs and preferences. However, when buying insurance online, you may be unsure whether what you are getting is legitimate coverage.

People often fall prey to fraudulent insurance while buying coverage online. Learn some pointers and techniques to determine if bike insurance coverage is valid.

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

After a lot of research, you have finally found two wheeler insurance online at a price much lower than the industry standard. Although you may believe that your efforts have finally paid off, are you sure the insurance you are buying is genuine? Online insurance is really quick and easy, but it is also the most popular way for customers to indulge in bogus plans. So how can you tell a fake two wheeler insurance policy from a genuine 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 actually providing another. A different IDV or free add-ons that are not actually covered when purchased in the policy could be the reason. Be sure to review the policy documents carefully to confirm that the payment is consistent with what you have agreed to, to prevent this from happening to you.

Also Read: Why It’s Important To Have A Good Helmet?

The policy term or premium amount claimed in the fake insurance paper may be wrong. The term may have lower or higher premiums than you anticipated. Contact your insurer and be aware that if you find any such irregularity in the paperwork of the policy then it may be a fake insurance.

QR Code

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. While checking your policy papers to make sure that it is authentic, this QR code is very helpful. You have probably bought a fake policy if the QR code is missing from the policy paper.

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

Check the credibility of the selected Insurance agent

Some people believe that buying bike insurance coverage from an insurance agent is safe and reliable. But it is important to verify the validity of the selected insurance agency before entering into any contract with them. Verify from the concerned authorities that the agent’s identity, license number, badge and other relevant details are correct.

Acquire Receipts

It is always advisable to request receipts for each financial transaction to prevent any problems in future. These documents confirm that the premium payment has been received. When dealing with an agent, dealer or middleman, it should become routine to ask for a receipt.

Take Away

Now that you have been notified, you can be sure that any coverage you buy online is valid. After purchasing a bike insurance coverage, be careful to look at all these details to ensure that it is valid and that you are getting the benefits you have paid for.

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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