The Best Ways To Avoid Buying Fraudulent Two-Wheeler Insurance Online

By Oliver Cole Jul4,2023

Buying a bike insurance policy has also been made more efficient through companies providing their plans on their websites. However, there have also been cases where people have ended up with fake insurance policies after purchasing two wheeler insurance online.

If you want to know how to keep this from happening to you, keep reading to learn more about buying a bike policy online.

What Are Online Two-Wheeler Policies?

When an insurer insures your bike, it means they promise to take care of financial losses that come with your bike under the terms and conditions of the bike insurance policy.

For example, comprehensive bike insurance from Tata AIG covers the financial losses of both you and the third party during an accident. You must pay an insurance premium to purchase an insurance policy for your bike, and this policy is proof of your insurer’s promise.

After buying your two-wheeler insurance online, remember to get a hard copy of your bike insurance from the insurance provider. You can do this by entering your policy number onto the site and downloading your bike insurance policy.

Generally, any prominent insurance company in India will instantly issue the policy document and send it to your registered email address after you buy a bike policy online from their website. If that takes time, you should be able to manually download it from their website using your policy number.

What Are The Most Common Ways People Buy Two-Wheeler Insurance Online?

There are three main ways you can purchase an online two-wheeler policy.

  • An Agent

This is the best and most straightforward way to purchase an insurance policy for bikes. It’s also the most preferred way, as it cuts out the part of finding an insurance provider yourself.

If your bike dealer is not in touch with an insurance provider, they will provide you with the contact information for one. However, always check the agent’s licence and credentials to avoid scams.

Furthermore, carefully assess the document, and check the same policy online on the insurance provider’s website.

  • An Insurance Provider

The safest way of purchasing online two-wheeler policies is by buying directly from a famous insurance company, like Tata AIG. In case you want to buy a policy from a lesser-known insurer because they are offering a huge discount, you better be careful. The best way to confirm the legitimacy of the insurer’s website is by calling its customer service helpline. Another way to check would be to look for the insurance company’s name on the IRDAI’s website.

  • Web Aggregators

Web aggregator sites allow you to compare two-wheeler insurance policies from several providers. To confirm the legitimacy of the insurance provider’s website, always check the IRDAI’s website to see if the insurance provider’s website is registered there.

Find out the insurer’s licence number from the site and compare it to the one on the IRDAI’s site to see if they match. If they match, you can be sure that the policies offered are genuine.

How To Avoid Buying A Fake Bike Insurance Policy?

Here are some ways you can avoid running into fraudulent insurance policies.

  • Purchase the insurance policy directly from a certified insurance provider like Tata AIG on their official website. The IRDAI regulates all online insurance providers so that you can verify the legitimacy of the insurer on their website.
  • Thoroughly inspect the insurance provider’s website before making your purchase. Go through their different web pages like the about us section, the contact information page, etc.
  • Recheck your policy details on the Parivahan site. This government website lets you check your policy details using your vehicle registration number.
  • Always check the details on your bike insurance policy to confirm whether the details listed and the bike registration number are yours.
  • Use a QR code for policy verification. QR codes are now mandated by the IRDAI to be included in every policy. You can quickly scan the QR code using your phone or any scanner to spot fraudulent providers.
  • Avoid disclosing sensitive information like credit card details or bank information. Most insurance companies have a verification process through email or via your registered mobile number to confirm the authenticity of you and the insurer.
  • Always choose a payment method that leaves a pay trail when using net banking. So credit cards or debit cards are more secure and the best options when purchasing a plan online.
  • Always keep the payment receipts when renewing or buying a new bike insurance policy. Each insurance provider offers a unique receipt as proof of payment through an invoice via email.

Conclusion

It’s always better to be safe than sorry. So before you buy any two-wheeler insurance, always check the insurance company’s and insurer’s credentials on the IRDAI’s website and recheck your policy details on the Parivhan website. This can assure you that your online bike insurance policy is valid.

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