Benefits of Buying Insurance Online

Sunday, January 13, 2013

Benefits of Buying Insurance Online


Almost all transactions for which we used to visit offices and speak to sales consultants are now available online. Insurance is no exception. Below is a list of the benefits of buying insurance policies online:



  • One advantage is that it becomes so much easier to compare rates and policies. Potential customers can acquire a basic understanding of what the various companies offer without ever leaving their homes. It also means that the insurance market is now a buyers’ market, since the sellers of insurance policies know that buyers can shop around for the best deal.
  • Those who prefer to buy their insurance from foreign companies can benefit greatly from the technological benefits of online transactions. Communication online is simpler and quicker and a credit card transaction is effortless.

  • The process of obtaining a quote is so much quicker and even more pleasant. One can receive a quote from an agent in minutes and then examine and consider it for as long as one needs. The amount of subsequent help is completely up to the customer, which is typically a lot less stressful than the pressure under which one has to make decisions when an insurance agent is sitting in one’s living room.

  • The process of buying a policy takes a lot less time. One can obtain the quote, possibly consult with an agent, complete forms and submit them via email and pay online with a credit card. No more waiting in queues or holding on the phone.

  • By visiting one’s preferred company’s website, it is easy to deal with the insurance company and its affiliated agents directly. No more dealing with insurance brokers whose affiliations and expertise are unknown. Buying directly from an insurance company means that one deals with an agent that sells only for that company, one that has had extensive company training and with superior knowledge of products.

  • Depending on where one buys, buying insurance online can also be cheaper because it usually exclude agent commission. That is often a large part of the initial cost of an insurance product that is passed on to the customer in an online transaction.

  • Advanced security technology has made online shopping quite secure. It is at least as safe as walking to the offices of an insurance company with cash and all ones personal documents.

  • With all ones policy information online, one has 24/7 access to change ones contact details. Some companies even allow their online customers to file claims or change claim information. This usually coincides with discounts on premiums, since the company saves on agent time and telephone costs.

These potential benefits to customers make the online buying of insurance policies an attractive option which more buyers decide to use every year.