As per the Motor Vehicles Act, 1988, it is compulsory that every person driving any kind of vehicle must have an active car insurance policy. Purchasing one is a crucial step towards securing the vehicle from financial losses incurred due to accidental damages. With the advent of digital technology, the internet has taken over the world. Buying car insurance online has become relatively preferrable. Read on to know more about the several reasons why buying a car insurance policy online is the best option for you.
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Reasons for Purchasing Car Insurance Policy Online
Here are a few reasons why buying car insurance online is the best option:
- Comparison of Rates
One of the best reasons for buying a car insurance policy online is that you can easily compare several car insurance plans. There are multiple insurance providers offering various packages across India. Choosing the one that best suits your requirements from the pool of insurance packages can get very challenging. This is where buying car insurance online makes your task easier. Comparing the prices, policy coverage, and other features of a bunch of insurance policies online before choosing the one that perfectly fits your needs makes the entire process smooth.
- Instant Coverage
As soon as you purchase your car insurance online, the activation process of your coverage gets initiated instantly. You will receive your policy papers in your registered email address instantly. Besides, if you were to purchase your car insurance offline, it might take a longer time for you to get your policy documents even after you submit your application form.
- Minimal Paperwork
You can purchase car insurance online with minimal paperwork. You can submit the necessary documents to the insurance provider after the proposal form gets digitally filled out. A scanned copy of your insurance policy document is also sent to your registered email ID after the purchase has been successful. The online process of buying the car insurance saves you from the hassle of submitting multiple documents, thereby promoting a green environment.
- Accessible Policy Documents
The online car insurance policy documents will be sent to your registered email ID. This makes it easily accessible as and when required. The probability of losing the offline policy documents is usually higher. However, you will always have a scanned copy of your online car insurance policy even if you lose its hard copy.
- Cost-effective
Online car insurance policies are usually cheaper than the traditional ones. The online process eliminates the requirement of insurance agents. Hence, the expenses incurred due to the agents’ commissions get mitigated. The requirement of minimal documentation further reduces the operating costs as it cuts down significantly on the stationery expenses. Since the operating expenses of the online insurance providers reduce significantly, they offer car insurance policies at a much higher discount.
- Easy Verification of Your Insurer
It is more advisable to research about your car insurance provider online rather than offline. It is not only easier but also more trustworthy. Before purchasing the online car insurance plan, you can get more information about your insurer’s claim settlement time, claim filing process, and ratio of the claim settlement. All this can be done by simply visiting their online website. Besides, you can also read the reviews or testimonials given by the previous or the current customers to gain a better understanding. You can verify your insurer’s credibility by analysing these details. Doing offline research for the same can get mentally taxing and difficult.
- Enables Financial Budgeting
Several online insurance providers offer multiple facilities to make the purchase experience more hassle-free. Once you are done with comparing the features of various policies and choosing the one that best suits your needs, you can also calculate the premium rates of your insurance plans by using the online car insurance premium calculators. This will keep you prepared for the amount that you will have to pay through the tenure of your policy. Planning your finances around these rates will become easier for you, helping you budget better.
- Transparent Procedure
Once you purchase an offline car insurance policy, the insurance provider will send their agent to make you aware of the necessary details regarding the plan. Since it is a manual process, the probability of human-error increases. This can create some confusion during the process or the tenure of the policy.
However, buying the car insurance policy online mitigates human-error since you can read the terms and conditions online. This way, you can protect yourself from any fraudulent activity.
Buying a car insurance policy online makes it more convenient for the purchasers. The insurance providers have been prioritising their customers’ comfort to enhance their purchasing experience. It is always better to look through all the options available in the market, align your requirements with the features offered, and choose the best. Get instant coverage for your car through a transparent online car insurance purchasing process.
(Above mentioned article is consumer connect initiative. This article is a paid publication and does not have journalistic/editorial involvement of IDPL, and IDPL claims no responsibility whatsoever)
