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Top 5 Benefits of Buying Car Insurance Online

Indian auto-industry is one the most productive automotive markets across the world. Apparently, the increase in demand for cars is quite evident on the country’s roads. As the number of vehicles increases on roads, the risk of accidents gets higher. However, the Indian law has mandated car insurance which protects you from financial casualties.

Gone are the days when only a handful people used to think of understanding their car insurance policies, whereas most of the people used to pay the premium blindly as per the demands of the insurance companies. Nowadays, there is a huge increase in the number of people who look for solutions online, even car owners prefer to buy car insurance policies online, with better understanding.

Through the easy access to the internet, one can get multiple options of taking a detailed look at various car insurance policies available in the market. Additionally, you get to compare various car insurance plans to avail maximum benefits on cheaper rates. Buying car insurance policy is considered to be simpler as all the car insurance providers sell their policies online. Here are some of the advantages of buying car insurance online

● Diminution in the starting costs: When you purchase a car insurance policy online and make the payments of your premiums online too, the insurance provider offers a lower rate on your purchases because the process requires less paperwork. Alongside, other operational savings are also there.

● Wide range of policy schemes: As mentioned earlier, you can get access to various car insurance policies sitting at home. In addition, you can also check out the terms and conditions, pros and cons, qualifying factors and policy reviews and select sensibly.

● More Transparent: When you buy car insurance through an agent or representative, probably all the details about the insurance policy are not disclosed to you. But when you choose to buy it online, you will be provided with the whereabouts, coverage and clauses that are mentioned in the policy. Moreover, you can also compare different policies and select the best one according to your requirements.

● Easy and Flexible Process: Buying car insurance online is convenient, time-saving and hustle-free process. It requires less time and effort for registration, unlike the offline mode, where you need to fill up details in a long form and go through documentation process and other formalities. E-commerce websites are designed in such a way that you can easily undergo the whole process without sparing much time. Also, at the time of renewal, it needs very little time to reload your information as the whereabouts are already saved online. Moreover, you will also get timely reminders for the renewal.

● Discounts and Offers: Insurance companies provide lucrative offers and discounts to encourage people to buy car insurance policies online. There are also a number of collaborating partners like Standard Chartered Bank, HDFC and Citibank who offer 5% cashback to their premium customers when they make the transactions through a credit card.

There is no doubt that buying online car insurance has certain advantages which can not be availed if buying the same policy through offline mode. But it is noteworthy that selecting the best suitable insurance plan requires a good amount of research. While buying, you should be aware of what you are paying for and what coverage you are getting in turn.

However, there are few misconceptions regarding the reliability and authenticity of buying car insurance online. Any policy that is issued by any insurance company or any licensed broker registered with IRDA (Insurance Regulatory and Development Authority) is completely reliable and authentic. Additionally, you should be informed regarding certain things at the time of buying car insurance policy online. As the valuation of every vehicle differs from each other, the amount of insurance and premium may vary as to the valuation of the vehicle. Therefore, you should look for those insurance providers who offer comparatively a higher valuation.

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