Here are the best insurance policies you can avail online
During the 1990s, insurance agents used to knock at our doors and try to convince our parents to buy a policy by explaining them the benefits of these policies. Sometimes, our parents also had to visit the local bank to buy an insurance policy. They used to blindly trust the information provided by the agents and purchase the policy. The cheque and paperwork made it a tedious job.
But now the scenario is entirely different. With almost 52 million internet users in our country today, we can buy everything online from groceries to clothes and gadgets. Looking at the response of people towards online shopping, even insurance sector has initiated to provide insurance policies online. This shows how rapidly e-commerce is growing in our country.
Online Insurance in the Electronic Age: What You Can Buy Online
- Car and Bike insurance: Vehicle insurance is also known as Car insurance or Motor insurance. This type of insurance is basically for your cars, bikes or any other vehicle running on roads. It protects you financially against any physical damage of injuries due to any unforeseen incidents or collisions on-road or off-emergencies. A comprehensive policy provides security against damage incurred due to natural and man-made calamities, including acts of terrorism. Hence, Vehicle insurance provides protection to the insured against damage to the vehicle. It also pays for third party liability as determined by law. Also, ensure that your vehicle insurance is renewed on timely basis whether it’s online bike insurance renewal or car insurance renewal.
A comprehensive insurance policy include personal accident and third party insurance along with own damage cover in one policy.
- Common vehicle insurance categories include:
- Car Insurance, Two Wheeler Insurance, Commercial Vehicle Insurance.
Some add-on cover of vehicle insurance include roadside assistance, cashless servicing at nation-wide network of workshops and garages, personal accident cover, towing assistance.
- Health insurance:
Health care expenses are rising every year. Busy and stressful life will negatively affect the health. This can cause critical illness or medical emergency and hence, adversely affect financially. A health insurance policy is the only way to reduce the financial risks.
Health insurance covers the medical expenses of the insured due to hospitalization from an illness.
Health insurance includes cashless facility at designated hospitals, pre and post hospitalization expenses, ambulance charges, daily cash allowance etc. Therefore, while purchasing health insurance policy online you should compare health insurance plan offered by various insurance companies.
Some common types of health insurance policies are:
- Individual Policy,
- Family Floater Policy,
- Surgery Cover,
- Critical Illness Policies
- Personal Accidental coverage
- Life insurance:
Life insurance was in existence around 100 years ago. It is defined as term insurance wherein an insured will pay a premium amount for a specified period. In return, the insurance companies will pay back certain amount to the insured subject to terms and conditions. It provides full protection against the death of an insured.
The purest form of Life Insurance, i.e. Term Plans can definitely be purchased online as they are offered cheap with multiple additional add-on benefits called riders.
- Property insurance:
Indians value their homes more than just its property prices. Also, it is one of the most expensive possession. Thus protecting the possession is of utmost importance.
Although home insurance is not a very common one in India, it is slowly gaining its importance. The Uttarakhand floods, innumerable cyclones and devastating earthquakes in the last decade has left little choice to individuals. At least insuring the property would ensure that rebuilding the structure and getting the contents does not pinch your pocket if your house is damaged.
Incidentally, property insurance is a very cheap proposition but is rarely availed.
- Travel insurance:
This type of insurance policy provides coverage against any unforeseen incidents while travelling, especially abroad. It covers the insured against medical expenses and any loss of luggage, passport, etc. Certain countries mandate it like the USA, UK, etc. whilst others don’t.
There are several types of travel insurance policies like :
- Individual Travel Policy,
- Family Travel Policy,
- Student Travel Insurance,
- Senior Citizens Travel Policy
- Annual Travel Plans for frequent flyers
Hence, insurance companies not only offer insurance policies online but also all details for each policy, quotations, facility of renewal and filing complaint for any wrong doing by insurance company’s employees.
The digital age has simplified insurance for everyone. The young procrastinators can do online bike insurance renewals. The smart pragmatic individuals can compare health insurance plans before choosing one for themselves or their loved ones. They can also compare car insurance, insure their foreign trips and get coverage for their homes. So go forth and make the most of digital technology for your insurance too.