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Buy Car Insurance – Read 4 advantages and disadvantages of buying car insurance online in 3 minutes. Updated: March 25, 2021 2:22 PM IST Navneet Dubey Premium

As it is easy for consumers to buy insurance policies online these days, the industry has adopted a paradigm shift based on digitization and customer centricity to improve business. Also, buying car insurance policy online has become easier and more convenient. However, some customers may have a different set of requirements and in many cases their requests go unanswered online.

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Buy Car Insurance

Therefore, before deciding to buy an insurance policy online, you should weigh the pros and cons.

Benefits Of Motor Insurance Online

No Documents: No one likes to fill long forms and submit numerous documents to buy insurance offline. Animish Das, Head of Auto Insurance, ACKO Insurance, said, “The shift to online shopping for auto insurance products takes the hassle out of navigating the quagmire by asking potential buyers to provide only basic information in order to receive a quote.

Save time: Customers who buy insurance online are also freed from time pressure. The entire purchase process can be completed within minutes and the purchase can be completed at any time. On the other hand, the offline process is time-consuming as the customer has to visit an insurance company branch or meet an agent to buy the policy.

Easy Comparison: It is easy for consumers to compare policies online and choose the best one, and web aggregator sites make the whole process easy. You can also easily check insurance policies using car insurance calculators available on insurer websites. Conversely, this traditionally requires visiting different branches and manually comparing different policies, which is an unnecessarily long and inconvenient process.

Low prices: “Operating costs associated with online insurance are lower than offline insurance because digital insurance companies do not have physical sales offices and the need for labor is also reduced. Lower operating costs equate to lower price policies that do not affect coverage in any way, Das said.

Old Car Insurance Policy Online

Unanswered questions: “When buying insurance online, there may be various issues that require immediate attention. Providing incorrect details may result in claim rejection. For example, if you don’t know enough about how the policy works, how the claim is settled, the add-ons that come with the policy, whether or not they are worth buying, then there will be a lot of questions that will remain unanswered during this time. Online purchase of insurance policies

Loss of Premium Discounts: Voluntary policy rewriting is always a gray area for most insurers, why opt for it? Typically, insurers allow policy buyers to share some of the risk associated with the insurance. This amount is known as the “deficit” and is a predetermined amount of loss that the insured will incur during the settlement of the claim. Therefore, the voluntary deductible can be purchased in excess of the mandatory deductible to get a discount on your insurance premium. But to understand this issue, you should seek help from an insurance specialist before buying an insurance policy. Basically, when you buy an insurance policy online, you may be missing out on this important aspect that helps lower your car insurance premiums. Another disadvantage is that there are some features such as “too voluntary” that the buyer may not notice and ignore. Prashar said: When choosing such functions, insurance premiums can be reduced.

Buying an insurance policy on a fake website. Although the regulator warns policy buyers about the many fraudulent websites that sell policies online and are not authorized, you also need to be vigilant when buying insurance online. Therefore, you should beware of online scams as these fake websites may unwittingly obtain your financial and personal information.

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No claim assistance: Generally, insurers do not have an online claim handling mechanism. So, when you buy an insurance policy online at the time of loss, you may find it difficult to file a claim because you don’t have people to help you right away. First you need to contact customer service representatives etc. However, on the other hand, if you were to buy the policy offline through an insurance agent, they will help you settle the claim instantly. It’s always good to have a familiar voice that can help you resolve your claims if needed.

Why To Buy A Long Term Policy For Car Insurance?

Navneet Dubey is a personal finance writer and artist. Over the past decade, he has written articles on insurance, financial planning, lending and borrowing.

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We are the only insurance company that allows private drivers like Grab, Ryde and Gojek to buy car insurance online. Our comprehensive commercial vehicle insurance offers a unique 50% NCD lifetime guarantee and ultimate income protection. So, you can be sure that you are protected on all fronts.

Enjoy up to 12 months of interest-free car insurance installments¹ when you pay with your OCBC Mastercard or Visa credit card.

Limit your repair costs with commercial vehicle insurance. We let you decide how much deductible you want to pay for damage or loss to your vehicle.

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We want to reward you for driving safely. If your current no-claims discount is 50%, you can keep it for as long as you stay with it, even if an accident happens.

Unipol Launches Italy’s First “try Before You Buy” Motor Insurance Programme

Our comprehensive commercial vehicle insurance covers vehicle repairs, medical expenses, third party damage and roadside assistance to suit your needs and budget.

1 For car insurance plans with an annual premium of more than $500. The information is correct as of August 28, 2019.

You can allow your family members to drive your car if you purchase the additional benefit ‘Insuring any family member who drives your car’.

Choose your desired repair shop. Note: Our market-leading labor warranty is only available on top workshops

Did You Buy The Right Motor Policy For Your Car ?

Get extra insurance when driving in West Malaysia and parts of Thailand with emergency assistance, emergency expenses and towing benefits to get you and your vehicle back to Singapore.

Be sure to keep your 30% or 40% no-claims discount when you renew with us, even if you momentarily lose focus.

It is the first insurance company to offer private drivers such as Grab, Ride and Gojek the ability to purchase third party auto, third party, fire and theft insurance policies online. Save on Z10/11 insurance by choosing any of our commercial vehicle insurance plans.

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Protect yourself when driving to West Malaysia and parts of Thailand with our car insurance plan.

What Is An Agreed Value Vs Market Value In Car Insurance?

If you trust your family members to drive, we’ll insure them too – you don’t need to provide their names when buying a policy.

Our third-party only plan protects you against claims from another party. Our third party fire and theft insurance plan covers this and also if your vehicle is damaged by fire or stolen.

We will pay up to S$3,000 for legal services to represent or defend you against any official investigation or infringement in accordance with the terms of the policy.

We insure any family member you trust to drive without you telling us about it.

Should I Buy Car Insurance With My Partner?

This page is for general information only. You can find the exact terms of this plan in the policy text. The policy is protected by a policyholder protection scheme administered by the Singapore Deposit Insurance Corporation (SDIC). Your policy is automatically covered and no further action is required from you. For more information on the types of benefits covered under this program and the coverage limitations, if any, please contact us or visit the GIA/LIA or SDIC websites ( or sg or Some insurers allow you to cover up to 30% of your non-communicable diseases by adding NCD cover. This allows you to save 30% NIH for 1 accident claim where you are “at fault”. But if the second claim is filed in the same insurance period, your NIH will be 0%. NCD protection terms are better for you when you have a higher NCD level, like 40% or 50%. For details, see the Insurer’s Statements (accessible through multiple pages here).

Get up to $80,000 of the difference between your car loan balance and market value if your car is a total loss.

The insurer you have chosen will get to know you for the first time. The insurer must know the license plate (you can

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