In today’s era, everything from medicines to home theatre can be purchased online. The insurance industry is not behind as you can easily buy insurance for your car, home and yourself online. In fact, the best car insurance companies do not inspect your car when you purchase vehicle insurance online. This makes the whole mandate of buying insurance for all cars a little less of a burden and a lot easier.
If you own a car, you must be aware that third party insurance cover is mandatory for all cars in India. As per the Motor Vehicles Act, 1988, driving an uninsured car on public roads is illegal in our country. So if you want to drive your car, you must get it insured under car insurance with at least a third party cover.
The motor law only mandates you to buy third party insurance cover for your car. The third party insurance covers your car against causing third party property damages, bodily injuries or death in an accident. However, you can also decide to opt for a comprehensive car insurance policy.
A comprehensive car insurance policy covers your four wheeler against third party liabilities as well as for damages sustained due to events, such as natural disasters, accidents, theft, manmade calamities or fire. This type of policy provides broader coverage as compared to third party insurance and comes at a higher premium price.
The decision to buy comprehensive car insurance or stick to third party insurance is up to your preferred coverage and budget. Whichever type of motor insurance you decide to purchase, you can buy it online from the best car insurance companies in India.
There are several benefits to buying a car insurance policy online. Take a look:
Speaking if buying car insurance online, often the question over its safety looms. Car owners are worried about how safe it is to buy insurance for your car on an online platform than offline.
The good news is that it is absolutely safe to buy car insurance online. When you think of buying insurance from the best car insurance companies online, you can rest assured that you will get your money’s worth. The motor insurance company will offer you the coverage that you were promised at the time of policy purchase. Moreover, comprehensive or third party insurance purchased online is considered legally valid and authentic by the IRDAI (Insurance Regulatory & Development Authority of India).
However, make sure to buy car insurance online from an IRDAI registered motor insurance company only. The IRDAI issues a registration number to every motor insurance company that acts as proof of the company genuineness and authenticity. The insurance regulator keeps an eye on such insurers and holds them accountable for any malpractices or fraud. Thus, you can buy car insurance online without any worries as long as you buy them from an IRDAI registered insurance company.
Besides buying car insurance online from the motor insurer, you can also buy third party insurance or comprehensive insurance for your car from insurance broker websites, such as Policybazaar.com. An insurance broker is a company that allows you to buy insurance online from a variety of insurance companies. They offer you the liberty to compare and purchase plans by the best car insurance companies and choose the one which suits your requirements the most.
Similar to motor insurance companies, the authenticity of an insurance broker can also be ascertained by checking for its IRDAI registration number. You can find the IRDAI registration number on the website of the insurance provider and the insurance broker. Thus, you must check for the IRDAI registration number of a website before buying car insurance.
Moreover, you must also go through the policy coverage and read the terms & conditions carefully before buying a car insurance policy. This eliminates the chances of any surprises that you may get later regarding the coverage that would result in denial of the claim.
You should also read the existing customer reviews and check the claim procedure of the insurance company before buying the policy. The claim settlement ratio and claim settlement speed also help you understand how much your claim is likely to get approved and how much time will it take for you to receive your claim amount.
When buying car insurance online, there are a few warning signs that you must look out for. These warning signs act as a red flag and indicate the probability of fraud, identity theft or data theft. Here are some of the warning signs that you should look out for when buying a car insurance policy online:
Counterfeit offers are one of the biggest warning signs of fraud. They are used extensively for phishing scams where you are tricked into giving away your bank account details. You may come across unbelievable offers while buying car insurance. When you click on the link to avail the offer, you will be asked for your bank account details. When you provide the details, you will be robbed off your money.
Hence, you should be careful to avoid falling for any counterfeit offers. The best way to check the authenticity of a too-good-to-be-true offer is by calling up your insurer. Ask the customer support about the genuineness of the offer and go ahead with it only if it is confirmed by the motor insurance company.
Availability of inaccurate information about an insurance company or the car insurance plan is another warning sign. Discrepancies in the information can act as a proof against the company or the website’s genuineness. Thus, you must look out for discrepancies or wrong information on the website of an insurer.
If you come across inaccurate information or any discrepancies, you should get in touch with the insurance company and cross-check the information. Only after you have clarity on the information, you should go ahead with buying comprehensive or third party insurance for your car from that website.
Another warning sign of a fraud is when the best car insurance companies do not provide you with a receipt for premium payment. A genuine company will always provide you with a receipt for any premium that you pay. If the company refuses to provide it, you must avoid buying car insurance from it.
On a safer side, you must always ask for a premium payment receipt for any transaction that you make. Make it a habit to check with your insurance provider about giving you a receipt before you make the actual transaction. Also, keep all the premium payment receipts safely for any future references.
When you buy a car insurance policy online, always check if your policy document has a signature on it. Your car insurance policy document should consist of the signature of an authorized signatory from the motor insurance company. If your policy document does not consist of a signature then you can suspect foul play and raise a complaint.
Moreover, always ensure to sign your car insurance proposal forms yourself. Never let anybody else sign it on your behalf.
In a Nutshell
Purchasing a car insurance policy online is totally safe and highly beneficial. Be it third party insurance or comprehensive insurance, you can buy it online as per your choice from the best car insurance companies in India. Do remember to look out for the warnings signs to differentiate fraudulent websites from genuine ones.
Reducing car insurance premiums is simple and straightforward. By
Read moreThe extreme heat and constant heat wave warnings have made
Read moreScenarios like hit-and-run accidents or purchasing a second-hand
Read moreGetting your car insurance claim settled is no longer a hassle
Read moreHave you recently purchased a car insurance policy for your new
Read moreIt doesn’t matter if you are an excellent driver or take your car out only once in a few months; your vehicle must
Read moreLosing your car insurance documents can be daunting. In such a state of affairs, the first thing that comes to your
Read moreSometimes, you may face situations when you need car insurance or vehicle owner details but cannot readily access
Read more#Rs 2094/- per annum is the price for third-party motor insurance for private cars (non-commercial) of not more than 1000cc
*Savings are based on the comparison between the highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB. Actual time for transaction may vary subject to additional data requirements and operational processes.
+Savings are based on the maximum discount on own damage premium as offered by our insurer partners.
##Claim Assurance Program: Pick-up and drop facility available in 1400+ select network garages. On-ground workshop team available in select workshops. Repair warranty on parts at the sole discretion of insurance companies. Dedicated Claims Manager. 24x7 Claim Assistance.
Insurance
Calculators
*Savings are based on the comparison between the highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB. Actual time for transaction may vary subject to additional data requirements and operational processes.
Policybazaar Insurance Brokers Private Limited CIN: U74999HR2014PTC053454 Registered Office - Plot No.119, Sector - 44, Gurugram - 122001, Haryana Tel no. : 0124-4218302 Email ID: enquiry@policybazaar.com
Policybazaar is registered as a Composite Broker | Registration No. 742, Registration Code No. IRDA/ DB 797/ 19, Valid till 09/06/2027, License category- Composite Broker
Visitors are hereby informed that their information submitted on the website may be shared with insurers.Product information is authentic and solely based on the information received from the insurers.
BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS / FRAUDULENT OFFERS IRDAI or its officials do not involve in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.
© Copyright 2008-2025 policybazaar.com. All Rights Reserved.