How to buy motor insurance online? Motor insurance is a must for anyone who owns a car or bike or plans on buying one. Without valid insurance policy, you will liable to pay fines up to Rs. 2,000 or even ensure jail time of up to 6 months if caught by the authorities. Besides the legal point of view, not having motor insurance could also leave you open to significant financial losses.
For instance, say you are driving down the road and you meet with an accident which is sort of your fault. In this scenario, you would have to pay for the damages you’ve caused to other since you were on the wrong. Not only that, your car is also damaged and you will have to bear the repair costs as well. Matters get worse if the police arrive and slap you with fines for not having a policy. So, the long and short of things is that motor insurance is important. So if you don’t have a plan, your old plan expired or you are thinking of buying a new vehicle, it is important that you purchase a plan right away. And you do not have to worry about long processes and tedious paperwork – you can just make your purchase over the internet. This will make things easier and convenient. Not sure how to transact over the internet? Well, you’re in luck, the following article will tell you how to buy motor insurance online in 4 simple steps. Step 1: Shortlist insurance providers. Begin by comparing the market and shortlisting some good insurance companies. Drop any insurance providers that have poor claim settlement ratios, bad reviews and lower cashless garages. Claim settlement ratio should in the higher 90s, reviews are best checked on insurance aggregator sites, and the more network garages, the better!
Step 2: Get instant quotes. This is an important step if you want to efficient buy motor insurance online. Once you’ve shortlisted 3 or 4 good insurance providers, it’s time to see how they match-up against each other in terms of coverage and pricing. You can go this by visiting all their websites and clicking on the ‘get instant quotes’ button. You will have to type in some details regarding your vehicle. Based on the information you provide, the instant quote will be generated. Some insurance providers will offer multiple quotes for different levels of coverage. Once you have quotes from different insurance providers, you can compare the level of coverage offered and the prices of all your shortlisted options.
Step 3: Select and fine-tune. After carefully comparing the plans, you can select one that best satisfied your needs. Before processing to buy motor insurance online, you can adjust certain factors of your policy such as the IDV, the deductible, and so on. You can also include any add-ons you want. Step 4: Making the payment. Once you’ve finalized on the coverage, just click on the continue button. You will have to provide some personal details and some more specific of your car such as your VIN and chassis number. After this, you will have to make the payment of the premium and that’s it! The policy document will be sent to you and you will officially be covered by motor insurance. We hope these tips will help you successfully buy motor insurance online. Good luck and ride/drive safe!