From grocery shopping to furniture and apparel to flight booking, we all prefer buying goods and services online. This is mainly because of the ease online shopping offers. Financial services like banking and insurance also heavily depend on online mode.
Traditionally, purchasing a car insurance policy was a tiresome process which every vehicle owner had to undergo since it’s a mandatory requirement. However, the online processes have made things better for the insured. So whether you are planning to buy a comprehensive, third-party car or own-damage car insurance, ensure you buy car insurance online for ease and comfort and its numerous other benefits.
Why Buy Car Policy Online?
Like purchasing any other product or service online, buying car insurance is no longer a big deal. So let’s look at some benefits of buying car insurance online.
- Easy comparison
When buying or renewing online car insurance, you can easily compare different plans from different insurance companies or plans offered by the same insurance provider. This thus helps you research thoroughly and choose the right policy for your car.
Like any other online purchase, a car insurance policy, when bought online, offers cost-effectiveness. Let us understand what makes online car insurance cheaper. When you buy an insurance policy online, you eliminate the need for an insurance agent.
Thus the expenses are reduced as the insurance company does not have to pay commissions to the agents. Moreover, online policies have zero paperwork which reduces the operational cost. These savings by the insurance company are usually transferred to customers as a discount.
- Convenient and time-saving processes
Unlike the traditional method of buying car insurance, buying it online does not require you to visit the insurance company’s branch or meet up with an agent. Instead, you can log in to the insurer’s official website to buy the policy.
Apart from purchasing the policy, you can compare online car insurance plans, renew the policy, calculate estimated premiums, pay your premiums or initiate a claim, everything at your fingertips. Since all these aspects are digitised, the processes are hassle-free and time-saving.
- Minimum paperwork
Offline purchase of insurance typically requires extensive paperwork. The process can be tedious and time-consuming.
On the contrary, online car insurance policies require minimum to zero paperwork. You can fill in the proposal form digitally, and the scanned copies of the required documents can also be submitted online. Later, the policy is shared digitally on your registered email address or WhatsApp mobile number, thus promoting a greener environment.
- Instant policies
When buying or renewing the policy online, the processing of documents gets faster, making the entire process swift and easy. Thus, unlike the traditional purchase method, you need not wait to receive your policy documents for days. Many insurance providers issue policy documents within minutes and are shared on your registered email or WhatsApp number.
- Checking the insurer’s credibility
Knowing an insurance company’s credibility is crucial before purchasing a policy. Checking the credibility online is much easier than doing it offline. You can visit the insurance provider’s website, and learn about the claim settlement ratio, their turnaround time for claim settlement, their various touchpoints, reviews from their customer etc., to make a final decision.
Some Tips for Buying Car Insurance Online
Since we have learnt that buying car insurance online is a wise decision, here are a few tips before you get started.
- Do your research: Learn about the various plans different insurance companies offer. Then, sync it with your requirements.
- Opt for a comprehensive car insurance policy: It is always better to opt for a comprehensive car insurance policy as it provides maximum coverage.
- Enhance your policy with add-ons: You can opt for extra security for your vehicle by opting for add-ons like zero depreciation, roadside assistance, consumables cover etc. Remember, add-ons come at a cost; ensure you use a premium calculator before selecting a policy (with or without add-ons.)
- Read policy inclusions and exclusions carefully: Inclusions will have everything that the policy covers and exclusions are those that the policy does not cover. So ensure you read them along with the terms and conditions carefully.
- Understand the claim process: Learn about the insurer’s CSR, claim settlement and initiation process and the average time required to settle a claim.
- Keep documents and payment details handy: When you finally purchase a policy online, ensure you keep all the required documents and payment details online for smooth processing.
Buying car insurance has many benefits, and buying it online only makes it convenient, cost-effective and hassle-free. Ensure that you buy car insurance online from a reputed insurance provider like Tata AIG, which offers access to numerous network garages, extensive coverages, 12 unique add-ons, and seamless online processes.