Hi All,
I have query related to car insurance, not sure if this is allowed here; if not entertained then please disregard my query.
I am due for my car insurance renewal and I have been checking things online to get a better idea on the renewal. After all the search, calls from different insurance companies, I am now having 2 queries to decide on a particular insurance.
1> Is inspection of the vehicle mandatory for renewing the insurance ? Representatives from Bharti AXA/ICICI/LnT/BajajAllianz/TataAIG, all told that this is necessary and someone from their end will come for a vehicle insurance. Infact, the LnT person said that as per the new IRDA rules inspection is mandatory, otherwise there will be problems during claim settlement. But, the CSR from PolicyBazaar.com said that inspection is not necessary and that he will issue the insurance immediately.
2> Also, the premium quoted by PolicyBazaar.com is approximately 1,500/- INR less than the premium quoted by any other direct insurance company. Why is there such a huge difference ? Is the insurance being given by PolicyBazaar.com reliable ? Although, I understand that PolicyBazaar is not from them, but through an insurance company.
Please somebody reply on this. (if at all motor insurance discussion is allowed in this forum).
Kind Regards – Ashwin