How to check the genuineness of my car insurance policy?

We live in a society with lots of unknown threats to our lives and property. Insurance is a helping hand that we can find and use for ourselves as a financial aid, when we come across unforeseen events in life. There are multiple benefits of owning an insurance as it not just provides safety and security, but also helps in availing tax benefits.

What is a Car Insurance Policy?

Nowadays, we can easily purchase car insurance online. A car insurance policy helps in protecting us against financial losses that are incurred due to unforeseen events. Owning a car insurance policy is moreover a legal requirement as in India it is mandatory to have a minimal level of insurance before driving a car.

It provides coverage for property, liability and medical.

  • Property indicates an accident that causes damage to the car or when theft occurs.
  • Liability indicates our legal responsibility to others for bodily injury or property damage.
  • Medical indicates the cost of treating injuries, funeral expenses, etc. that is incurred due to the personal injuries occurring due to the accident.

There are different types of coverage available to choose from while purchasing a car insurance policy, including liability coverage, uninsured and underinsured motorist coverage, comprehensive coverage and more. Bharti AXA is among the several insurance providers that offer genuine and authentic car insurance policies in the market.

Ways to check the genuineness of car insurance policy

As we all know, only the genuine car insurance policy can help us against the financial losses incurred due to unfortunate events. As consumers, we should be aware of such frauds and be wary of them. There are certain things to be kept in mind regarding car insurance online that can help us stay away from such malicious possibilities.

  1. Look for genuineness online

While looking for car insurance online, it is important to look for a policy verification link on the website. Genuine car insurance providers do have such links to help prove themselves as reliable insurance providers.

  1. Buy from a credible resource

The best and most secure place to buy car insurance online is to buy it directly from the insurance company’s website. This leads to no middle man getting involved and ensures direct and transparent interaction with the insurance company.

  1. Vigilantly go through the insurance policy

While buying car insurance online it is always advisable to devote plenty of time to read each and every minute detail of the car insurance policy online. The major printed details like IDV, No-claim Bonus and other deductibles should not be missed.

  1. Make payments via cheques/online payment modes that are secure

Paying the premium amount via online payment modes helps in making a safe transaction as it provides definitive evidence of payment made. Also make sure that while you make a payment via cheque, it is a must to ask for the pay receipt to have a proof of the payment made.

  1. Look for QR code

For the tech-savvy costumers purchasing car insurance online, make sure the QR codes of the insurance provider are available that can be scanned. These are symbols of genuineness of the policy, owing to its role as a digital signature. Genuine car insurance providers do harbor payment portals that are accessible through QR codes as they are mandatory by law.

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