what is an insurance stamp, Insurance Stamp is an approved signature from the insurance authorities which to use to put on the insurance certificated. Insurance stamp are used to show the approval or acceptance of new insurance purchased by the insurers from the insurance company and in against as the proof of insurance purchased insurer received the insurance certificate and its only authorized when the certificate have insurance stamp.
What Is an Insurance Stamp?
Insurance stamp is final approval proof in the Insurance certificates. Insurance stamp is an final proof of the insurance that show the approval of insurance purchased. Insurance Stamp is the approval that finally approve and validate your insurance certificate, without Insurance stamp insurance certificate is not valid and no company accept the submission of insurance certificate.
Type of Insurance Stamp
There are two type of insurance stamp, one is offline or physical stamp other is electric Insurance stamp both are authorized and worked like same here we’ll discuss more about the both type of Insurance Stamp.
Physical Rubber Insurance Stamp
Physical insurance stamp mean for the physical from of any approval stamp physical stamp are generally used in insurance office for the approval of physical document and insurance company offers it when you buy your insurance from the office or insurance companies and having physical proof or insurance certificate than only you can have physical Insurance stamp on you insurance certificate.
Electronic or E- Insurance Stamp
Electronic insurance only enable or shown when you buy the insurance from insurance website without visiting the physical office. You can download the insurance certificate from the same insurance company website and get the attached enabled stamp on it already. Insurance stamp is necessary to approve the legality of Insurance certificate. Without having an insurance stamp on the insurance certificate it’s just and waste paper.
Now you may clear about what is an insurance stamp and what are the types of insurance stamps and after that it’s important to know that how its looks like here below are the details.
How to Recognize Insurance Stamp is Legit or Not?
- What is an insurance stamp is not enough knowledge for you, you must know the details of how insurance stamp looks like and what details are need to be mention on insurance stamp to make it valid for approval.
- Insurance Stamp must have insurance company name printed on the stamp horizontally.
- Insurance Stamp must include the company representative’s name, location, or producer code printed horizontally.
- Insurance Stamp must have the three digit insurance company code printed on the stamp vertically.
- Insurance Stamp must have the authorized representative’s signature line printed horizontally at the bottom of the stamp.
- It fit within the appropriate boxes on all Registry forms like (RMV-1, RMV-2, RMV-3). The applicable size to fit all documents which could be 5/8 X 2 5/8 wide.
- In case of Electronic Stamp all electronic stamps must have prior approval by the RMV before use.
Why Insurance Stamp Required
Insurance stamp provide the authority to the insurance certificate, without insurance stamp insurance certificate is mean less or not hold any value. Its prove that insurance company accept the insurance and authorized the insurance certificate and prove of acceptance the liability.
Is Insurance Stamp Cost Extra to Insurer
Insurance stamp is manage and provided by the insurance company and having an insurance stamp on your insurance certificate may cost you nothing because its comes under the process of getting insurance policy from any insurance companies.
Its one of the necessary process which all insurance company follow while allowing the insurance benefit in exchange of the insurance policy.
Nothing going to be charges from the insurer for the stamp.
How Insurance Stamp Important in Legal Cases
I know that you landed in this page just to know that “what Is an Insurance Stamp” but as the objective of our blog is to provide as must details as possible so that incomplete information don’t harm you in near future.
Having an insurance stamp on insurance certificate may help you in legal cases, it could possible that you won’t get satisfactory claim on your closer and that time you may want to Reopen closed insurance claim to get claim. You need to submit the insurance policy paper which only hold value or consider as valid document when insurance papers have insurance stamp of the insurance company.
Having an insurance stamp on insurance certificate may increase the chance of winning case against Insurance companies.
How to Show Proof of Insurance
If you own a car or bike and riding your vehicles more often, it an recommendation for you to carry the insurance certificate. You never know when police ask you for your id and insurance papers. Carrying a printed insurance paper with stamp on it could be the perfect valid proof of your insurance.
You can show your insurance certificate digitally on phone with electronic insurance attached on it. In both cases insurance stamp play an important role, its show and validate the proof of insurance is legit and not fake insurance.
Conclusion on what Is an Insurance Stamp
Insurance stamp is stand for the legal approval mark which is mandatory to have in any insurance certificate when insurance purchase the insurance from company. Insurance stamp can be majorly two type one is rubber stamp other one is electronic insurance stamp. Physical paper required rubber stamps or when you purchase the insurance from the website you’ll receive the insurance certificate with electronic insurance on your downloaded insurance certificates.
Hope this blog helps you to find out what Is an Insurance Stamp