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Motor Insurance Online vs Offline: What Should You Know?

Buying insurance for your vehicle can be a tedious task given a plethora of options available in the market. With the advent of technology, the introduction of motor insurance online has led to an increase in policy choices. The purchase of vehicle insurance depends on the different types of coverages. While buying a motor insurance policy online, you should look for comprehensive coverage as it offers various advantages.

The Insurance Regulatory Development of India (IRDA) has issued new changes to the existing rules of the Motor Vehicles Act 1988. According to the latest changes, you can opt for a multiyear third-party insurance policy. Hence, you should select a plan keeping in mind the benefits of having insurance for an extended period.

Here are some distinctive ways which will help you decide to purchase motor insurance online or offline:

  1. Procedure

When you plan to buy motor insurance online, the process is fast and straightforward. You can access all the necessary information required on the website of your insurance provider. You can compare different policies available with one click. You can choose the policy as per your needs after understanding all pros and cons. Also, limited documentation is required for purchasing motor insurance online, making the process fast.

If you purchase vehicle insurance offline, you will have to spend time meeting the agent. It will enable you to discuss various policies and select the most suitable one. The procedure can be lengthy, as you may have to wait for the documents, filling them accurately and sending them back. If there are changes, the report will be handed back to you for corrections. Thus, the process will get elongated.

  1. Cost and Discounts

If you opt for motor insurance online, the cost will be less than your offline policy. A simple reason is that you do not have to pay for the commission of insurance company agents.

Also, some insurers offer new-customer discounts, year-end discounts, and similar others. These benefits might not be available for offline purchases. Sometimes, insurance companies have tie-ups with banks. Hence, if you pay using the online methods of payment, you can avail of these extra-discounts.

  1. Transparency

After you have chosen motor insurance online, you can understand the terms and conditions of the policy. With online purchase, all the details of the plan are laid in front of you. Further, there is a limited scope of hidden information.

When you opt for an offline motor insurance policy, you need to trust the agent altogether. You might see the actual policy papers only after the payment is made. It is imperative to find a reliable and trustworthy agent when you buy car insurance offline.

  1. Claim-Settlement Process

You can make policy claims online for all vehicle insurance policies. The claim-settlement process is quicker and convenient. You can file the claim and procure reimbursement in very less time. Online filing expedites the cashless procedure as well.

While if you choose offline vehicle insurance renewal, it will be a lengthy procedure involving the policy agent. You might require a meeting with the agent and personally submitting all the documents.

  1. Renewability

When you require renewing your motor insurance, you can make use of the premium calculators available on the websites. You can fill the needed information and calculate an estimated amount of the insurance premium. Many insurance companies have online calculators. Hence, it will be easier to evaluate and compare the premiums of various plans. If you find an insurance company offering the same benefits at a lower premium than your present insurer, you can switch your insurer.

While for renewing the policy offline, you might require visiting the insurance company’s office branch. Further, new documentation might require significant time and energy.

Reputable companies like Tata AIG that offer lucrative motor insurance plans. In case you face any troubles, you can contact them. Their team of experts will guide and help you determine the right plan. Purchase motor insurance and provide your car with protection from unexpected situations. You can buy insurance online or offline as per your suitability.