What are the Benefits of Buying Insurance Online?

The online method is one of the best ways to purchase insurance. Getting a policy is just a few clicks away and you can buy it at any point in time within the comfort of your home. In simple words, buying insurance online is faster, more convenient and cost-effective. Read on to know the advantages of buying insurance products online ranging from health insurance to car insurance and travel insurance.

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      Advantages of Buying Insurance Online

      Take a look at some of the advantages of buying an insurance policy online:

      Affordable Premiums

      When buying online insurance, customers directly deal with an insurance company. Hence, the agents’ and the distributors’ commission is saved. Besides, the entire process requires less paperwork as it is done via the internet. As a result, the cost of stationery is also saved and so, it is cost-effective. The company, in turn, shares these savings with the policyholder by charging lesser premiums to them.

      Make an Informed Deal

      Buying online insurance enables a customer to get an informed deal. Nowadays, various insurance broker websites, such as Policybazaar.com, help you to compare various insurance plans online. Hence, whenever you decide to buy a plan online, you always have an option to compare different plans in terms of benefits, coverage, features, premiums, claim process, renewal, etc. This way you can easily weigh the pros & cons and finally can choose the right insurance plan that meets your needs and your budget.

      Time Saving

      When it comes to buying an insurance plan offline, the application process may seem tedious. With less paperwork and a hassle-free process, the online insurance process is more time effective. Also, in the case of health insurance, some insurers offer health insurance plans that require no pre-medical check-ups. As a result, you can immediately get your policy issued within a few minutes.

      More Convenient

      Online insurance purchase is more convenient than buying it offline. This is because you can make a purchase in the comfort of your home sitting on your favourite couch. Moreover, you can apply for a policy at any time that is convenient for you. You do not have to visit the insurance company’s office or check the office hours to get yourself an insurance plan. The same is not possible while buying the policy offline.

      Online Reviews

      While buying an insurance plan online, you can check the reviews of existing customers to get an overall idea about the product as well as the services offered by the insurance company. If you buy a plan via other sources, this first-hand feedback is missing as only online services offer customer reviews to guide a buyer.

      Online Services

      The policyholder can avail online services like downloading the policy document or brochure, getting prompt insurance quotes, renewing the policy, paying the annual premium, making a claim whenever required, etc. if the policy has been bought online. The online process is hassle-free and enables you to buy a policy without wasting your time. Here you do not need to rush to the insurance company’s office to clear a single doubt about the policy. Instead, you can write to them or talk to the customer executive over the phone asking for assistance.

      Easily Accessible Customer Support

      Most insurance companies have a live chat feature on their websites so that customers can directly talk to the customer support team about any doubts or grievances and get verbal assistance. You can also speak to a customer executive on the company’s toll-free number to register a complaint or to collect information. The customer representative will also guide you through the purchase process via telephone. If need be, the insurer can also send an executive to help you buy the plan.

      Security of Policy Document

      Hard copies of the policy document are quite easy to lose. The worst part is that it is a cumbersome process to reissue a duplicate policy document from the insurer. This situation can be avoided if you buy the policy online. In online insurance, the policyholder receives a soft copy of the document in his/her email. So, even if you lose the hard copy of your policy papers, you can access the soft copy from your email.

      Is It Good to Buy Insurance Online?

      Buying insurance online is convenient, fast and will cost you comparatively less. Gone are the days when you would have to personally visit an insurer’s office or fix an appointment with an agent to buy a plan. Today you can avail the entire range of insurance services or products online. In fact, all insurance companies in India allow customers to buy insurance plans online only.

      Apart from the insurers’ websites, you can also use online insurance broker websites like Policybazaar.com to search for policies from different insurers and buy the best plan after comparing similar plans. Comparison helps you to know the various options available in the market and make an informed decision. With so many perks, it is definitely a wise idea to buy an insurance policy online.


      Buying general insurance online is convenient and cost-effective at the same time. With an increasing number of people choosing the convenience of online insurance purchases, insurance companies have started providing exclusive offers to these customers.

      Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.

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