Car Insurance Tips: With the rapid increase in car ownership over the last few years, middle-class families can now easily afford cars through financing options. The next crucial step after buying a car is getting it insured.
Unfortunately, the rise in car insurance demand has also attracted scammers looking to take advantage of unsuspecting buyers with fraudulent “cheap” plans. To protect yourself from falling victim to this trap, there are a few essential things you need to verify when buying insurance.
Be sure before buying an Car insurance policy
To avoid any kind of fraud in the case of insurance, you must check some things while buying the policy like-
- Read the insurance policy papers carefully. Please check the information given on it online once.
- Check the name of the company from which you are going to get insurance on the IRDAI portal.
- Be sure to check the UID number on your insurance policy. UID number is issued by IRDAI. If this number is not there in your policy then your policy is also fake.
- A QR code is necessary for every insurance policy. By scanning this QR code, you can know the details of the policy and find out whether your policy is genuine or not.
- While purchasing the policy, make the payment online or by cheque, and make it in the name of the company instead of in the name of an agent.
- Also get information related to the policy from the customer care of the company.
- Get car insurance quotes from multiple reputable companies. This helps you find the best coverage at the most competitive price.
Types of Car Insurance
- Third Party Insurance- It is mandatory for everyone to take third party insurance. This is a kind of legal agreement between the policy holder and the insurance company. In this, the company promises the policy holder that the company will compensate for all the losses incurred in case of any accident. In return the company charges premium from the policy holder.
- Own Damage Insurance- It is not mandatory to take this policy. This is a policy that covers the damage caused to the insured car. It also provides coverage for bodily injury or death. Besides, damage caused in case of natural calamities and riots is also covered.
- Comprehensive Car Insurance- It is not mandatory to take this policy. It provides coverage against damage caused to your vehicle due to unexpected events like earthquake, flood, theft, fire etc.
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Final Words
Honestly, buying car insurance can feel like a total headache, especially with all those scammy companies out there. But don’t stress! It doesn’t have to be complicated. Just remember those simple checks we talked about, and you’ll totally own this whole insurance thing.
Think of it like leveling up your adulting game. A little bit of research now means you won’t get ripped off later. It’s about protecting your car (which you probably worked super hard to get) and your money.
So, don’t let those shady companies win. Be a savvy shopper, check everything twice, and show those scammers who’s boss! You got this!
FAQ’s About Car Insurance
Why is it so important to verify a company before buying car insurance?
What’s the difference between third-party insurance and comprehensive car insurance?
What should I do if I feel pressured by an insurance agent?
What does the UID number on my car insurance policy mean?
How can I avoid getting scammed when buying car insurance?
1. Research and compare: Check reputable online comparison sites and the IRDAI portal.
2. Verify details: Carefully check documents and information against official sources.
Use secure payments: Pay directly to the insurance company, not individual agents.
3. Ask questions: Contact the insurer’s customer care for clarification.