Motor Insurance

13 Benefits of Buying Motor Insurance Online

By Admin
Apr 21, 2021

Buying motor insurance plans has never been easier than now, thanks to the seamless marriage of the internet and services offered by the insurance companies. With car insurance plans now being offered online, you can simply scour through dozens of options and choose the one that best resonates with your needs. There are numerous benefits of buying such insurance products online, and here we have listed the most important ones. 

13 benefits of buying motor insurance plans online:

  1. Multiple policies can be compared - Comparing multiple policies does not require days of research anymore! Moreover, you do not have to rely on an insurance agent for the same, as you just need to put in the required details in a car insurance calculator to get the ideal car insurance policy for you. Compare the premium prices, the additional benefits, and the cover that you get to find the policy that ticks the most boxes. For example- Ankita purchased a policy online without any hassle as the process was quite smooth and easy for her. She compared multiple policies online and finally purchased an ideal policy, meeting her needs.
  2. You get the best deal  - What makes the online option so great is the fact that you get the best deal overall. It is not just about how easily you can compare but also about the elimination of admission and commission costs. The money you save here helps you get a cut in premium costs as well.
  3. Minimum to nil paperwork required - Since everything is done online, there is next to minimum paperwork involved, or even zero paperwork in some cases. This makes the process easier for you. You just need to scan the documents and upload them on the concerned insurance company’s online portal.
  4. Convenient process - With no agent involved, minimal paperwork and the option to buy the insurance from anywhere you want at your chosen time, buying the insurance plan online is definitely a lot more convenient than the regular way. 
  5. Instant policy activations  - You no longer have to wait for days to get your insurance policy in your hand. No more waiting for the post, which consists of the hard copy of the insurance policy, to reach your house. The online process is much faster and the policy can be activated instantly in most cases. In fact, if you are looking to renew an already existing policy, then the process is even faster because half of the information is already there in the portal. 
  6. Checking the credibility of the insurer is easy - You can go to the official websites of the different service providers to get the plan from a credible source. You no longer have to worry about the possibility of the agent being a fraud. Another thing you can do here is to go on the social media handles of these service providers and look for if they are delivering on their promises or not. Social media on this front can be really helpful.
  7. Exposure to Genuine policies - As a continuation of the previous point, the policies you get online are just as genuine as the ones you get offline. These too are authorised by IRDAI (Insurance Regulatory and Development Authority of India). However, make sure that you buy car/two-wheeler insurance policies only from the official websites of the company. 
  8. Does not require expertise of an agent - No more relying on an insurance agent to understand the terms and conditions of a policy. You can simply use a search engine to look up the terms and find their meanings and use in the policy. This helps you understand the policy you want to buy in-depth. You also eliminate the middle-man in the whole process and hence save on the commission cost as well. 
  9. Hassle-free NCB Transfer - Changing the NCB (No Claim Bonus) from one policy to another or from one vehicle to another is one of those processes that take time and a lot of paperwork. It may also force you to visit the insurance company’s office multiple times. So, why waste your time when you can do the same in a hassle-free manner online? You just need to upload the required documents on the portal and you will be good to go in a few minutes. 
  10. Changing the car insurance company is easy - Just like buying a plan online is easy, terminating a plan is equally easy. This means that you can change the insurance company with ease. You can either do it in the middle of the policy term or at the end of it, depending on your preference. 
  11. Never Worry About Losing Your Insurance Policy Copy Again - Well, we have all been in a situation where we misplaced the insurance policy copy and ended up paying fines to the traffic control. No more of that, as you will be carrying the soft copy in your smartphone all the time! Of course, having said this, you should always keep a hard copy in your car’s dashboard at all times. 
  12. Timely Renewal Reminder - When you buy a policy online, you can tick the box that says renewal reminder. This helps you not miss the due date, enabling you to renew the policy on a timely basis. 
  13. Complete Transparency and Security - There are no hidden charges in the online process and since the transaction is done digitally with a lot of security, you can always rely on it. The whole payment process is safe and transparent, which means you know even the tiniest of details of the cost of the insurance plan.

Summary

Now that you have gone through these amazing benefits of buying the motor insurance policy online, you must have got a clear picture of how easy the whole process is. You get to compare different policies easily, save money and time, and complete the process in a hassle-free manner. This surely gives you the whole package, which makes choosing the online mode of buying a motor insurance policy over the offline mode a no-brainer!

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