Myths About Purchasing Motor Insurance Online vs. Offline

As a vehicle owner, you need to be aware of the requirement to protect your bike with an insurance cover. It comes as a requirement in compliance with the Motor Vehicles Act of 1988. While policies could be purchased solely from insurance companies or agents a few years back, the digital revolution in the country now facilitates online purchase along with the traditional offline mode.

There can be many hesitations and confusions in buying motor insurance online considering not many people are familiar with its process. Since online vehicle insurance plans do not offer a physical policy document, there can be questions about the genuineness and authenticity of one. This is one of the many myths that surround online insurance covers. This article aims to demystify some of these myths around online vehicle insurance plans vis-à-vis its offline counterpart.

  • No personal assistance is available for online insurance plans

This is the most common misconception when it comes to online vehicle insurance plans. Offline plans enjoy the personal assistance of an insurance agent or the branch official of the insurer guiding your policy selection, but online insurance plans also offer reliable customer support. Most insurance companies provide round-the-clock customer support through telephone or via e-mail. This way, you can resolve all your concerns and queries before you take the plunge. You can conveniently contact the customer support executive that can not only help resolve queries but also resolve any confusion concerning the policy terms. *

  • Buying a policy online is a complicated process

While it is a myth about online policies being complicated, in reality, they are simple and straightforward. Any hassle of long documentation formalities as well as paperwork is eliminated when you opt for an online insurance cover. The process of buying one is easy which involves visiting the insurance company’s website or downloading its mobile application on your smartphone. Here, you share the details about your vehicle, such as its registration number, purchase details, model and make, and then select your policy to avail insurance coverage instantly. The best part is—all this is done without having to step out of your house or make time from your busy work schedule. *

  • An internet wizard can buy online plans

Another myth for online plans is you need to be a skillful at computer operations and internet use. However, such expert-level skill isn’t required to buy insurance policies. Basic knowledge of computers and the internet is sufficient to navigate around your purchase. With internet-enabled smartphones in your palm, you can complete the entire buying process within a few taps. When buying, you must compare the different plans and a vehicle insurance calculator is a handy tool that is useful in this process. *

  • Online policies are expensive

The misconception around online plans is that they are expensive. But the truth is the opposite. Most online plans are competitively priced, and in some cases even lower, than traditional offline plans. The markdown is a result of the elimination of middlemen in selling those plans thereby passing on the benefit to you, the policyholder. Hence, you can get a policy with an affordable premium when you choose to buy online. *

* Standard T&C Apply

Lastly, irrespective of the mode of purchase, make sure to buy at least a third party insurance to ensure legal compliance with the Motor Vehicles Act. 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.

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