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Who offers the best deal for your car insurance? If you want to know this or make a comparison of the products of various insurers, all you have to do is click on the regulator’s Web site.
The Insurance Regulatory and Development Authority (IRDA) has introduced an online application that enables the user to compare coverages, exclusions, and so on.
The facility, now available through a link on its portal www.irda.gov.in , allows users to browse through the different features of the products.
“This application has been developed with the objective of providing a mechanism for consumers/prospects to make informed decisions by comparing features of insurance products,” Mr J. Hari Narayan, Chairman, IRDA, said in a release.
A user can select the product segment — fire, motor, engineering, etc. Based on the lines of businesses selected, the user is provided with a list of insurance companies having approved products in the market.
For product comparison, a user can select approved products of four insurers at a time. This can be made based on various parameters such as coverage, exclusion, discounts, deductibles, and so on.
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