Insuring the important asset even before adding a mile in the odometer is a major priority for most car owners. Car owners are looking for an easy and hassle free process to purchase car insurance. Securing car insurance online is not an inconvenience in today’s world with the internet. The main advantage of going for online car insurance is that it saves time and initial cost. It saves time since one can obtain answers to insurance queries online, purchase the policy anytime of the day, and obtain the policy document instantly after making a purchase. It save cost as it eliminates middlemen. Buying online directly from the company saves money because the insurance company does not have to pay the agent. This makes the whole process more or less hassle free.

However, some disadvantages exist with purchasing car insurance online. It is good to never underestimate the importance of speaking to a person while purchasing car insurance. With online car insurance policies, reaching out to the customer support can sometimes be a daunting task. Moreover, a person needs to carry out his/her own research, which can be time consuming if one is not aware of the basics of car insurance. Many insurance agents file claims for their clients. With online policies this is not possible. You need to manage the claim process on your own. Moreover, a person must be comfortable while making the transaction online.

Benefits of online car insurance

Saves time:

The primary advantage of buying a car insurance online is that it saves times and initial cost. These advantages are elaborated as follows:

  1. The initial cost of investing in an online car insurance is low
    • You need not travel to various insurance offices repeatedly to obtain details on the policies, quotes and later to actually buy the policy/renew it.
    • Online policies eliminate the dependency on an insurance agent. Hence online car insurance policies are available at a cheaper rate compared to offline policies.
  1. Online car insurance policies save time:
    • Unlike an offline plan that is purchased during office hours of the insurance company an online car insurance can be purchased anytime of the day.
    • The online websites of the insurance provider carry all details required during the initial research by the prospective policy holder.
    • For further information the prospective client can call the 24 X 7 customer support for more information on the policy.
    • Online car insurance plans and quotes from various insurance providers can be compared on the sites of web aggregators such as Coverfox.com and the appropriate plan can be selected.
    • The policy can be bought by making an online payment to the insurance company
    • After buying the policy, the policy document is sent to the policyholder through e-mail. The policyholder need not to visit the office of the insurance company to collect the policy.
    • The renewal of the policy can be done online as well.
  1. Online car insurance policies are transparent
    • An insurance agent/representative may be biased and not provide all the information required. However, online insurance offers transparency by giving complete details about how to buy a policy and how to make a claim.
    • Frequent reminders are sent about the next premium dates.
    • Important details are communicated directly to the policyholder.
    • Reviews from different policy holders are available online for reference.

Where to get an online car insurance?

Various companies provide car insurance online. Some of the reputed companies are listed below. The extra coverage / perks offered by these companies in addition to the basic comprehensive cover are listed below:

  • ICICI Lombard
    • ICICI Lombard offers the following perks:
      • Transfer of existing no claim bonus
      • 3400+ cashless network garages for cars
      • Road side assistance for car
      • Instant policy issue even in lapsed cases
      • Useful add-on covers like roadside assistance, zero depreciation, garage cash cover
    • HDFC ERGO General Insurance
      • Some perks offered by HDFC ERGO
        • 6000+ network garages
        • Overnight car repair services
        • Wide range of add on covers
        • In house claim settlement team
        • Coverage of towing expenses
        • Zero documentation
      • United India Insurance
        • Some perks offered by United India Insurance
          • No Claim Bonus
          • Various Add on covers
          • Discounts on AAI membership, anti-theft devices etc
        • The Oriental Insurance Company Ltd
          • United India Insurance offers the following perks
            • No Depreciation cover
            • Loss of personal effects
            • Alternative car benefits
            • Free emergency benefits
          • Tata AIG General Insurance Company Limited
            • Tata AIG offers the following perks
              • Add-on covers,
              • Cashless claims or direct settlement at garages
              • No claim bonus
              • Roadside assistance

Considering the benefits of online car insurance, it can definitely be treated as a hassle free insurance.