How to Avoid Purchasing Fraudulent Two-Wheeler Insurance Online?

Posted on: Aug 4, 2023 | | Written by:

How to Avoid Purchasing Fraudulent Two-Wheeler Insurance Online?

Published on August 04, 2023. EST READ TIME: 3 minutes

From one scam to another, people are witnessing new techniques by fraudsters. While some fall prey to it, others manage to stay vigilant and avoid such traps. Not just for bitcoins and emails, scams can happen with two wheeler insurance online as well. In one recent case, police arrested three people for an insurance scam of ₹1.5 crores done with fake emails and IDs.

There have been many such cases, and this is the reason why people are becoming more cautious and sceptical while purchasing an insurance policy for their motor vehicles. In order to avoid getting trapped, one best way is to purchase two wheeler insurance online via your preferred insurance company or by visiting the company office. You may also purchase one with the help of your bike dealer (make sure you cross-check the insurance details with the insurer). This article will discuss various ways in which you can stay safe and avoid purchasing a fraudulent bike insurance policy.

What are the ways to purchase two-wheeler insurance online?

A bike insurance policy is essential to ensure complete protection for your two-wheeler and your finances. Amid rising costs and safety awareness, investing in bike insurance can be a wise option. Also, as per the Motor Vehicle Act of 1988, it is mandatory for all motor vehicles to have a minimum of third party two wheeler insurance . Let's check how you can purchase two-wheeler insurance online:

1. The bike dealer

In case this is your new bike, you can purchase the comprehensive two wheeler insurance directly through your bike dealer. Usually, bike dealers are associated with or in touch with certain insurance companies. If you have a preference for an insurance company or policy, you can let your dealer know, and they can help you find the best deal available.

With a bike dealer, you need not put much effort from your end as they will arrange the insurance policy for you. All you have to do is make the payment of the premium. However, make sure to check all the details of the policy, read the fine print, and check the policy with the concerned insurance company as well.

2. The insurance company

Almost all insurance companies have their online portal now. For instance, HDFC ERGO lets its customers purchase, renew, and compare motor insurance plans on its online portal. Within a few clicks, you can easily purchase a plan. So, another way of purchasing a two wheeler insurance online is directly with the insurance company.

At HDFC ERGO, you can find a number of two wheeler insurance online policies suited for different needs. Once you have submitted the application, an executive from the team will soon get in touch with you. In case of any doubt or query, you can connect with 24*7 customer care service for a hassle-free experience. By purchasing the policy directly with the insurer, you get to save on the cost of hiring an agent. Make sure you know all about the plan before paying the premium.

3. Third-party platforms

Like agents, there are various third-party platforms that are primarily web aggregators. They help you purchase your preferred two wheeler insurance online in no time. Not only is it an easy way out, but also one of the safest ways of online policy purchases.

Third-party aggregators prepare a platform where you can view a range of plans by different insurance companies and compare to find the best one. Once you have finalised the plan, submit the documents and make the payment. An executive from the company will soon connect with you for further formalities. A third-party platform presents you with insurance plans in a very simplified way so you can easily understand the terms and coverages. On the other hand, it also saves you the cost of an agent.

Tips to avoid purchasing fraudulent two-wheeler insurance online

In order to stay safe from tricky fraudsters, here are some tips for you:

1. Check the insurer

It is highly advised to go with an insurance company that you have heard of or where you have purchased policies earlier. In case you are going with a new insurer, building trust is the most essential factor. On a very basic level, you can check about the company online and ensure that all the details are correct. Further, you must check the details of the company and that it has the necessary license with IRDAI. Once you are satisfied, only then take another step.

2. Try to make online purchases

Many people are more convenient in going with the offline method. Undoubtedly, it has its own benefits, but the online method saves you several risks. Usually, fake agents can trick you, but with the online method, there is less risk associated. You are in charge of comparing and purchasing the plan.

3. Check authenticity with Parivahan

Parivahan is the government's website where you can quickly check the details of your bike, including its insurance policy. All you have to do is enter the registration number of your vehicle. Once you have purchased the two wheeler insurance online, make sure to check the details on the Parivahan to confirm.

4. The policy QR code

Owing to the rising cases of insurance fraud and safety concerns, IRDAI made it mandatory for all insurers to put the QR code on each insurance policy. So, once you purchase a bike insurance plan, you can scan the QR code using the camera on your phone and open the link. The link has all the details of the policy. If you can't find the QR code, you must cross-check the details before payment.

5. Trust your guts and be careful

If you sense something fishy, do not ignore it. You may want to wait, check and confirm all the details before moving further. Be careful and stay alert. All the insurance company sends a confirmation email, SMS, or WhatsApp update. You must check if you have received these. When it comes to payment for the policy, try to use a card or net banking and avoid the use of cash. Using card/net banking helps you have proof of payment. In case of payment via cash or cheque, keep all the bills safe.

FAQs

1. From where can I check whether my bike is insured or not?

At the government's website, Parivahan, you can get a quick insight into the details of your vehicle. You just need to enter the registration number of your vehicle.

2. Is it a good idea to purchase a bike insurance policy through a third-party aggregator?

There are various third-party websites dealing in simplifying the policies for customers. You can go for a third-party insurance platform for purchasing your two wheeler insurance online and later confirm the policy with your insurance company and at the website of Parivahan.

Conclusion

Insuring a motor vehicle like a bike is not only mandatory but also highly advised. Since the repair costs or bearing the losses can sometimes be quite expensive, it is better to have a helping hand in the form of an insurance policy. During times of mishaps, you can have the peace of mind of having a financial backup. However, when you purchase a two wheeler insurance online, make sure to be careful and cross-check all the details with your insurer and at Parivahan to avoid falling prey to the insurance scams.

Conclusion

While listing the best safety cars in India in 2023, we have come across the names of several popular car models, thus highlighting one of the chief reasons behind their popularity.

Disclaimer: The above information is for illustrative purposes only. For more details, please refer to policy wordings and prospectus before concluding the sales.

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