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When you think of insurance fraud, the first thing that comes to mind is making a false claim. People do lie about insurance. People have also bought fake insurance policies for their cars. Even though it might not seem likely, it does happen a lot. If someone buys fake car insurance, they can't file a claim. People should only buy insurance from companies that are trusted and well-known.
Fraud is becoming more common in the insurance industry in India and around the world, which is a big problem for people who work in the industry because it costs them a lot of money. But as a customer, you need to know how to spot a fake car insurance policy and how to spot a real one. Before you buy car insurance online or in person, you should always check and think about the following five things:
Choose a Reliable Source When Buying Auto Insurance
Even if you know what you're looking at, it's hard to tell if a car insurance policy is real or not just by looking at it. One of the easiest ways to ensure you only get real policies is to buy car insurance online from the insurance company's website. You can also find the best deal by using a trusted comparison site. For example, doubts about its legitimacy quickly disappear when you buy car insurance online at IFFCO Tokio.
When paying, use a check or a safe online payment option.
You will have to pay for online car insurance from IFFCO Tokio or an aggregator site online, which is safe because you won't have to go to the bank. You can only pay with a check if you buy car insurance in person.
Your bill should be paid to the insurance company, not the person or agent, so you know you are paying for the right thing. Be careful not to pay in cash even if you receive a receipt. The safest way to get car insurance today is to buy it online. Not only is it more convenient, but it also keeps you from taking unnecessary risks.
Check your insurance by clicking the links.
There are links on the websites of many general insurance companies that let you check your policy. Check your actual policy on the website of your insurance company. You should click on the link to verify your policy to make sure it is correct. Getting in touch with the company's consumer service is another way to ensure that your auto insurance policy and other policies are honest. They can find out more about the policies.
Verify the Existence of the Policy and Restrict Your Search to Known Insurers
A company that the Insurance Regulatory and Development Authority has approved is one that they have backed (IRDA). The IRDA has approved 33 general insurance companies to sell insurance products. If you want to buy car insurance online, check the IRDA list to see if the company you want to buy from is on it.
If you buy insurance through an agent or call center, call the insurance company's main office (the number is on their website) and make sure the agent is who they say they are. Checking your policy is something else you need to do. How can someone make a fake policy of insurance?
They can make a fake insurance policy by copying the insurance company's logo. So, you next need to check to see if your policy is still in effect. You could go to a branch office of the insurance company or talk to the company online to ensure the policy document is real and not fake.
Look for the QR code.
People can also check their policy by looking at how they do things through a QR code. If you know how to use technology, you can scan the QR code on your policy to check that it is correct. IRDA has made it a requirement for car insurance and other types of insurance to have QR codes.
People can see and check their policies more easily now that this new feature is available. Since December 2015, all policies sold after that date have had this feature. A policy without a QR code is a warning sign you should watch out for.
After you scan the QR code, the page should tell you how your policy is doing and how much it costs. If you take a few steps when buying car insurance, you can avoid many problems down the road. When you buy a new vehicle insurance policy, make sure you think about the above things.