Motor insurance policies are mandatory in nature. They are the only insurance covers that are required as per the law. The Motor Vehicle Act of 1988 lays down this requirement to compulsorily have vehicle insurance coverage for all bike and cars registered in the country. These motor insurance plans can be either purchased online, the modern way or offline, the traditional way. While there is some scepticism when it comes to online policy purchase, this article mentions some reasons how an online vehicle insurance purchase aids in selection of the right insurance policy for you –
All your documents in one place
One of the highlights of buying a vehicle insurance online is all your insurance documents are saved in one place. While it may not seem a big deal at first, but during a claim, people often struggle to find the right documentation when needed. This creates a problem of inadequate or incomplete documentation which may lead to rejection of your claim. The same policy when purchased online helps to resolve problems related to necessary documents required to be submitted during a claim.
Know customer feedback
When buying a car or bike insurance online, it becomes confusing to select the right policy among the myriad alternatives. However, online purchase of motor insurance policies has an advantage to know the feedback of other customers by way of reviews and testimonials. This can help you in better policy selection and analyse whether it shall be the right fit based on your requirements.
Instant policy purchase
Buying bike and car insurance online is swift, simple and straightforward. As soon as the payment is made, the policy is delivered instantly to your inbox. You no longer need to wait for the payments to get cleared followed by the approval by the insurer. Online purchase has instant approvals and sanction of insurance coverage. If the details mentioned in your policy comply to its terms and conditions, the insurance companies issue the coverage.
Ease of endorsement
Online purchase helps in obtaining endorsement for your policy. Endorsements are the feature wherein any amendment required in your vehicle insurance plan, be it concerning policy details or regarding coverage can be done. This process of obtaining an endorsement for an offline insurance cover is tedious and time consuming, the same is hassle-free and instantaneous when done online.
Elimination of paper-based work
Online policy purchase eliminates all paperwork required in the process of buying one. Earlier the offline process which required you to fill multiple forms specifying various details, now requires you to fill just one application form, that too, via the internet. This has lowered the time required to apply for one, thus helping you obtain quicker and faster coverage.
These are some reasons that make it convenient for you when buying and selecting an insurance coverage for your vehicle. These benefits of online policy purchase are not just limited to buying a new policy, but also extend to its renewal too. So, make the jump to online buying and renewing motor insurance policies. Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms and conditions, please read sales brochure/policy wording carefully before concluding a sale.