In India, it is mandatory to insure your vehicle to be able to use it. You can buy motor insurance online or offline. The law mandates third-party insurance for all vehicles. A third-party insurance policy protects you against third-party liabilities in case of an accident or mishap. However, it does not cover your losses. If you want more exhaustive coverage, then you must opt for comprehensive coverage. In the event of a road mishap, a comprehensive motor insurance policy covers the damages caused to your car and even personal injury to the driver. This is over and above third-party insurance. As a result, you enjoy all-around coverage.
Now that you know why it is important to have car insurance if you plan to drive your car on Indian roads, you must know that buying car insurance is no more a tedious task unlike some years ago. With digitalization, most insurance providers let you research, assess, compare and even buy their motor insurance online. Now, with online car insurance, you can easily skip visiting an insurer’s branch office, juggling paper documents, and awaiting your turn to have a detailed conversation with an executive or agent. Even then, you have limitations regarding exploring and studying similar insurance products offered by different insurance companies.
If you are planning to buy a new car insurance policy or are about to renew your existing policy, then here are some reasons why you should do it online. Once you get familiar with the online process, you will never look back at doing it offline ever again. So, what are you waiting for? Here are your reasons for buying car insurance online.
- Convenience
One of the biggest advantages of online car insurance is the convenience factor. You can buy or renew your policy at any time from anywhere with just a few clicks. No more waiting in long queues at the insurance company’s office or spending hours on the phone explaining your needs to an insurance agent.
- Compare policies
This advantage gives you an edge when buying car insurance. Online car insurance platforms such as insurance company websites and insurance aggregator portals allow you to compare policies—inclusions, exclusions, coverage, premium cost, and more. This feature lets you compare policies offered by different insurance providers and choose the one you like the most, helping you make an informed decision.
- Customization
Online car insurance allows you to customize your policy as per your needs. You can choose the coverage you need, add or remove add-ons, and calculate the car insurance premium before making the final purchase. By using an online car insurance premium calculator, you can easily tweak coverage options to find policies that fit your budget. All you need to do is enter some basic details such as the age and model of the car, and your coverage needs and the online premium calculator tool will show you results in no time. This makes decision-making easier.
- Easy renewals
Renewing your car insurance online is a breeze. You do not have to worry about running to the insurance office before the policy expires. Just log in to your account, make the payment, and you are done.
- Instant policy
Once you complete the payment, your policy is immediately issued, and you will receive a digital copy of the policy document in your email inbox. However, if you buy or renew a motor insurance policy offline, you will have to wait for a few days before you receive your policy document via traditional mail.
- No hidden costs
When you buy car insurance online, the car insurance premium amount is calculated based on your profile, car details, and the coverage you choose. If you want to enhance coverage with add-ons, then you must pay an additional cost for each add-on cover. Remember, add-ons are optional and are available only with comprehensive insurance. All this is added to the final payment amount, and that’s about it. There are no hidden costs or surprises later on.
- No agent commission
Online car insurance purchase eliminates the need for an insurance agent. Since you look for a policy yourself, and choose and make payment online, there is nothing left for an insurance agent to do. Since no agent is involved, you save on the agent’s commission costs. This means you pay a lower premium compared to purchasing insurance through an agent. Also, bypassing agent services ensure that you are not influenced by the agent’s choice of insurance for your car. Some agents may make you buy a policy that does not fit your bill, but get them a better commission.
- Claims process
The claim process for online car insurance is simple. You can easily file a claim online, track the status of your claim, and receive the settlement directly into your bank account.
- Customer support
Online car insurance providers offer round-the-clock customer support via call, chat, or email. If you have any doubts or queries, you can contact them anytime.
- Better discounts
Online car insurance providers often offer discounts for buying insurance online, using certain payment methods, or opting for certain coverage. These discounts can significantly lower your premium amount.
Conclusion
Online car insurance offers multiple benefits to policy buyers, making it the best way to buy or renew an insurance policy. From convenience and customization to instant policy issuance and no hidden costs—no wonder why more and more people are opting for online car insurance. Try buying insurance online once and you will never go back to doing it the offline way.
