Car insurance is crucial in order to stay safe and avoid huge expenses that could sometimes lead to bad debt. So, it is the smartest choice to avail of car insurance in advance that can come in handy during unforeseeable situations and circumstances.
How to Buy Car Insurance in India?
Car insurance can help you during times of need and emergencies. When you decide to go ahead and buy car insurance, you can proceed in several ways. Let us have a look at the different ways in which you can purchase car insurance.
Offline/Through an Intermediary
An intermediary essentially means an insurance broker or an agent who is approved by the regulator. Typically, the IRDAI (Insurance Regulatory and Development Authority of India) recommends this pathway. In this method, the intermediary provides as much assistance as needed throughout the process of obtaining car insurance. However, ensure that the intermediary holds a credible and valid license before opting for this pathway.
Online
One of the easiest ways to purchase car insurance is through an online portal. Purchasing car insurance online has been made hassle-free and it can be carried out from the comfort of your home. There are several ways in which you could purchase car insurance online. Here is a list of a few methods.
From the website of the Insurance Company
Many insurance providers have an option to purchase car insurance through their website. They have also made the process easy with a simple application process which is followed up by a verification process. Once the verification is completed, the application will be approved and you can get your hands on your car insurance.
From Online Marketplaces
There are many online marketplaces available that offer many types of insurance. You could use one of these marketplaces to avail car insurance.
From Global Technology Companies
Global technology companies are essentially tech giants that have established their presence throughout the globe. Several of these companies offer car insurance in India.
Future of Car Insurance
With digitization increasing at a fast pace, the future of car insurance has plenty of scopes to go completely digital with several added benefits. For one, having car insurance facilitated through digital means can improve the customer-friendly nature of the entire process.
Several companies have started to adopt digital means such as telesales, virtual sales, chatbots, and more as means of providing information and onboarding the customer when it comes to car insurance. In addition, digitizing solutions also allows lesser latency when it comes to catering to the queries and needs of customers. Unlike having to use a human resource, digital services can be provided instantaneously upon request.
In a Nutshell
Car insurance is important as it can save huge financial expenses in times of accidents or unforeseeable circumstances. There are many ways in which you could purchase car insurance. If you are looking to purchase car insurance through an online marketplace, know more about it on Finserv MARKETS as it provides car insurance with minimal documentation and less processing time. In addition, the entire application process has also been simplified. You can also calculate the premium price for your car using the car insurance calculator.
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