How to Ensure Safety While Buying/Renewing Car Insurance Online?
Car insurance plans are one of the most effective ways to protect your vehicle from unfortunate events or risks. The insurance plan offers financial protection against any losses incurred due to any accidents or subsequent liabilities. Therefore, with the help of a car insurance premium calculator, you can establish a premium amount that is suitable for you to buy the most appropriate car insurance for your vehicle. With insurance coverage in place, you will be at peace knowing your car will be safe during an unfortunate event.
Buying/Renewing Car Insurance Online:
In the past, you had to visit the offices of insurance companies, wait in the queue and fill out quite a lot of paperwork to purchase a car insurance policy. However, with the whole world moving to the internet, insurance companies have also begun offering insurance policies online. Along with this, you can perform other insurance-related tasks online as well. For instance, you can get your TATA AIG car insurance renewal done online by visiting their official website. Buying car insurance online helps you learn about the different plans online, handle four-wheeler insurance renewal, access different tools like the car insurance calculator, etc.
Buying insurance for a car online is quite advantageous and profitable. With the insurance companies shifting online, the insurance sector has evolved exponentially. However, with the growing fame of buying insurance online, fraudsters have evolved and found new and attractive ways to dupe you online. Therefore, it is crucial to be vigilant when purchasing car insurance online.
Three stages of buying car insurance online where you must be mindful about safety:
- Before the purchase:
All insurance companies offering car insurance policies online have to be registered with India’s Insurance Regulatory and Development Authority (IRDAI). The list of the insurance companies registered with the IRDAI is available on the regulator’s Consumer Education Website. Before selecting an insurance company, you must check if the name of the insurance company is mentioned in the list or not. If it is listed, your chosen insurance company is a safe option for purchasing the plan. You can also check if the company is registered or not by looking for the registration number on the insurer’s website. The insurer’s registration number is generally mentioned on the website’s homepage.
- While purchasing:
After you have ensured the insurance company is registered with the IRDAI, you can visit their official website and buy or renew the insurance plan from there. You can visit the website by directly typing the website address in the browser or using a search engine. You can visit their official website through the links listed on their social media profiles. Once you visit the official website, you must verify if the insurance company’s page is not a duplicate one tailored to scam individuals. You can also contact the insurer and ask them to send you the official link. If you’re planning to purchase the plan through the insurer’s app, make sure you have downloaded the correct app and not a fraudulent one.
- Post the purchase:
After you’ve made the payment for the insurance plan, you must check if you’ve gotten the policy document or not. After the purchase, you can get the policy document through the insurer’s website or in your email inbox. Generally, there’s a delay of 10 minutes after the payment for receiving the policy document. If you haven’t received the document, you must contact the insurance company. After receiving the document, you must read through it to check if it is an authentic document or not. Along with this, you must also look for the details mentioned. If you find any errors, you can contact the insurance company to get them fixed.
There are some warning signs you must look out for when buying car insurance online. If you come across the signs listed below, you must hold your purchase and think the process through.
Checklist for a safe online car insurance purchase:
- Too many benefits:
If a car insurance plan seems too good to be true, you may be looking at a fraudulent policy tailored to attract potential insurance buyers. If you find any such plans that lead you to a shady website or ask for irrelevant information about your bank account, you must refrain from taking the process ahead.
- Asking for too many personal details:
Buying a car insurance plan online does not require a lot of information. If the process asks for irrelevant personal information or your bank account, you must contact the official insurer and ask them about it.
- Fake or no policy document:
You will receive the policy document after the payment is made. A small delay is normal. However, if you haven’t received the policy document for a long time, you must contact the insurance company. If there’s a specific reason for the delay, the insurer will let you know. You must verify the document after receiving it by going through the details like the authorized signature, cover details, etc., to check the authenticity.
The online platform has made the whole process of buying and renewing your car insurance policy very effortless. One other benefit that you can draw from the online source is a premium calculator that helps you ascertain a fixed amount that you need to keep aside for your premium payments. Let’s have a look at some of the benefits of a car insurance premium calculator.
Benefits of car insurance premium calculator:
- Using the car insurance calculator before purchasing the plan makes the entire process quite convenient and easy.
- The calculator will provide you with an overall understanding of insurance plans and helps you compare car insurance plans efficiently.
- You get the ability to see how changing different variables can affect the premium cost. It can help you customize your plan as per your needs and requirements.
- You can purchase a suitable plan for yourself without any pressure from insurance agents.
From ordering food to purchasing insurance policies, the world of the internet has made our lives quite easy. But, with the rise in its popularity, scam artists have evolved their methods and have found new ways to scam individuals online. However, you can follow a few steps and cross-check certain things to ensure the authenticity of the insurance policy you’re buying online.