Five Reasons to Buy Car Insurance Online

by Kanika Shelatkar Insurance Consultant

Buying car insurance has become incredibly easy in this era of the internet. Today, you can buy your policy online from your insurance providers’ website. There is no need to hire an agent or a broker, nor do you need to visit the insurer’s office to buy or renew your policy. It is indeed time to fire your insurance agent and purchase car insurance online. Here are five reasons to do so.

You can compare and review policies

The first significant advantage of purchasing four wheeler insurance online is that you can compare and consider the coverage offered in the different policies. You get access to the various players in the insurance sector and can analyse the premiums costs and coverage provided. Also, you can evaluate how each insurer ranks in comparison to others based on different criteria such as claim settlement ratios, customer service provided, and the number of days taken to settle claims and so on. Insurance brokers or agents do not provide this kind of detailed analysis.

You know your needs best and can purchase insurance accordingly

While buying any car insurance policy online, you must remember that you know your requirements best. Even if you may have conveyed the same to your broker, there is no guarantee that all your needs may be covered. When you start comparing 4 wheeler insurance policies, you will realise that there are a lot of factors at play. The policy suggested by your broker may not completely fulfil your requirements. You could even be paying a higher premium for services that you may never use.

You don’t have to spend on agent or broker commissions

Insurance agents and brokers typically work on a commission basis. While agents represent a specific insurance company, brokers represent several insurance providers. These individuals are business folks first, and your agents later. It only fits that they recommend policies that help them earn the highest commission, even though the plan may not be in your best interest. Many times insurance companies pay an additional commission to brokers and agents to boost specific policies. What’s more, they collect a commission from their clients as well. Why pay an insurance agent, who may not be able to help you find a suitable policy when you can buy car insurance online?

You can avail discounts and cashback offers

Insurance premiums are typically high, especially if you opt for comprehensive policies with several add-on riders. The premiums may seem high even after accumulating the no-claim bonus benefit, for not filing insurance claims. However, when you opt to purchase or renew your car insurance policy online, you will find several kinds of offers, discounts and cashback facilities. This will further help you reduce your insurance premiums considerably.

Online purchase results in online renewals

Once you buy car insurance online, you can also renew it online. While renewing the policy, you can modify it as you please. You can add more riders or remove those that are not helpful. You can even modify your policy as per your family needs – for instance; you may be getting married or expecting a baby. You can find policies fitting your needs and make the modifications easily when you renew the policy online.

Final word: Once you start buying your insurance policies online, you will realise how easy and convenient the process it. Online car insurance renewal is just as easy. The savings accrued due to cashback offers and discounts, coupled with no agent commission fees, make for great motivational tools to consider online investments for all your insurance needs. 

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Created on Jan 24th 2020 00:46. Viewed 185 times.

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