Since, there are innumerable Insurance agents and Insurance companies offering similar looking products and services, it is a challenge to choose the right insurance product. At this point of time, it is a good idea to select and buy insurance online. Regular insurances like travel insurance, vehicle insurance etc. which have a pre-defined package are easy to select and finalize online, while special insurances like Fire Insurance is easier to buy through a face to face discussion. Online Insurance is either offered directly by the insurance company or through a network of agents and affiliates. When selecting an Insurance Online, one should make sure that the very basis of “online” does not make you pay an additional sum – such as transaction fees, payment gateway fees etc.
- One advantage of buying Insurance Online is that, most often you will see online calculators, fact sheets, documentation and comparison which are easy to use and make you take decisions quickly. One disadvantage is finding the information in one place. Many providers who sell insurance online have a “talk to me” or “chat” facility. If these providers are consistent in their business process, you could get answers to your questions quickly. However if these call points are manned by lower level experienced people, it does take longer to resolve your query.
- When you purchase Insurance Online, look for providers who have all your needs in one place so that you get a one stop solution, plus volume discount on multiple policies. Online Insurance quotes, though available quickly, need input on important information before the system can call out your policy and plans. So it is essential that you have personal information handy. A good website will have a series of questions that are easy to understand and input, leading you finally to the decision making process. Once the insurance selection is complete, you should look for websites that have a shopping cart or checkout option for you to do the payment.
- Buy Insurance Online after you investigate the background of the provider or the agent. If the website or the contents do not provide you sufficient information, don’t make assumptions. Ask for queries through their “contact us” interface and wait for satisfactory replies. It is always advisable not to buy insurance online at the first go. Compare the products and pricing with several websites. Bookmark the relevant websites and come back to get more information until you are fully satisfied. If a website is seeking to take control of your computer or installing software, then it is a malicious site. It is always advisable to go to genuine sites, recommended by the insurance company and if they are recommending an agent, the names and websites should have been published.
- Buying Insurance Online is easy, user friendly and technologically savvy. One can even use a tablet or smart phone to complete the transactions. The online process allows you to see, compare, show to your family and finalize quickly. Once the insurance purchase is completed, the next set of regular transactions like premium payment, policy information, renewals etc., can be done using features available on the websites.
Gancho Petrov is an expert, who formerly worked for one of Denmark’s top insurance companies. His goal is to provide tips to those who are unaware of how to deal with insurance (which the Danes, interestingly, call Sammenlign forsikring ) and other types of personal finance matters.