Benefits of Buying a Car Insurance Policy Online

What are the benefits of buying a car insurance online? Know them all here.

benefits of buying car insurance online

If there is anything that this past year has taught us is the importance and advantages of digitization. It has completely transformed the way we shop, pay bills, and avail services. Since the arrival of the Covid-19 Pandemic in 2019, car insurance companies have been revolutionizing the way they work, bringing the entire workforce online to solve queries, help customers choose the right insurance policy, purchase it online and even renew their policies online.

The potential customers have also begun to realize the fact that choosing, buying and renewing insurance policy via digital channels is much more efficient, hassle-free and involves less paperwork, and requires no physical presence. Bless the widespread use of smartphones in the country, people are now more confident and well-versed with stuff like online shopping and online payments.

Before jumping onto the online bandwagon, it’s prudent to consider whether online car insurance is really the thing for you. To help you decide, listed below are 4 awesome benefits of buying a car insurance policy online.

  1. A plethora of options

The online car insurance market offers so many options to choose from and all of them at one place. One should use this convenience to his benefit and look into all the potential insurers and different policies before choosing one. While buying car insurance online, one has the liberty to compare insurance plans from different insurers online.

In an offline scenario, this work of explaining different policies and their features is done by agents who work on commission. With the aided self-help online, the potential policyholder can not only save extra money but can compare different policy coverages, deductibles, premiums, add-ons, and all the various factors and make an informed decision that would churn out the best policy perfectly customized to one’s needs and financial status.

  1. Best deal on premiums

One of the highlights of buying a car insurance policy is the affordable premium. Stats show that the premium rate of policies bought online is significantly lower than those bought offline. This might be due to the fact that overhead operational costs like manpower, physical office maintenance, and agent commissions are eradicated. Also, as the online policy procedure requires minimal paperwork, the operating cost is further reduced by the cost-cutting on stationaries.

All that the customers are left to pay while buying motor insurance online is a processing fee and no extra expenses. This establishes the fact that buying a motor insurance policy and even getting one renewed is a win-win situation.

  1. Time-saving

Purchasing a motor insurance policy online is a hassle-free and fast process that can be completed in a jiffy with few clicks that hardly require a handful of minutes. The thing that does take up time is the initial research done to choose the appropriate plan for the vehicle and make the necessary payment. After the payment is done, the policy is issued and immediately delivered to the registered email address. See? Hassle-free, no time constraint and can be done even at midnight from the comfort of one’s cozy nest.

On the contrary, offline insurance policy business is time-consuming and lengthy and can keep one caught up for several days. First of all, one needs to meet with an insurance agent or visit an insurer’s office, fill up a cartload of forms and submit them.  Thereafter the application will be processed, the concerned vehicle will be inspected and finally, the policy papers will be delivered to the policyholder after a few days of applying.

  1. Minimal to nil paperwork

Buying motor insurance policy with minimum documentation is a dream as everyone dreads paperwork, right? When buying car insurance policy online, all that is needed is to submit soft copy of the required documents like the Registration Certificate and previous year’s insurance policy – in case of renewal. This not only reduces paperwork but also promotes a greener environment.

To begin with, the proposal form is filled digitally and the scanned copies of the above-mentioned documents are to be submitted to the insurer online. The soft copy of all policy documents will be sent to the registered email id once the policy is issued. Seriously though, could this be any easier?

In a nutshell

Technological advancement has made the lives of insurance companies as well as potential policyholders, easier and less stressful. You must utilize these advancements and buy car insurance policy online, remaining cautious while making online payments at the same time. Also, make sure to get your car insurance policy renewed timely in case it’s due.

Also Read – 5 Questions to Ask Before Buying a Car Insurance

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Stay on op - Ge the daily news in your inbox