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Why Is Online Car Insurance Renewal the Best Option Right Now?

The benefits of online car insurance renewal include no paperwork, ease of buying, and a gamut of options to choose from.

  • 13 Apr 2021
  • min read

During the current pandemic situation, buying an online car insurance policy is the best option as you need not step out of your home for that.

It's imperative to renew your car insurance policy before its expiry date. Failing to do so can not only land you in legal trouble but also expose you to losses like car theft and damages. As per the Motor Vehicles (Amendment) Act of 2019, driving an uninsured vehicle in India can attract a penalty of ₹ 2,000 or imprisonment of up to 3 months or both.

However, car insurance renewal may not be easy and straightforward as you think. The biggest obstacle during the current pandemic situation is moving out of your house and visiting the insurer's office to get your policy renewed. Also, the lack of options means that you may have to remain stuck with your current insurer even if it is demanding an unreasonably high premium.

All of these problems can be nullified by opting for car insurance renewal through the online method. For online car insurance renewal, all you have to do is visit your preferred insurer's website, enter your car's details, and pay the premium amount via an online payment method. Below are the reasons which make online car insurance the best option right now.

Convenience of buying from home

The most notable advantage of online car insurance renewal is that you can do so from the convenience of your home. You are not required to step out of your home to visit the insurer's office in order to get your policy renewed. All you need to do is visit your preferred insurer's website and renew your car insurance policy by paying the premium through an online method.

This will protect you from the hassles of visiting the insurer's office physically and will also help you in minimising contact with other people during the current pandemic situation.

Minimal paperwork

Online car insurance renewal involves minimal paperwork. In fact, at ICICI Lombard, you can buy or renew online car insurance policies with no physical documentation. To buy an online car insurance policy, you simply need to fill and sign the proposal form digitally, and choose your desired coverage/add-ons, and make the payment online.

Moreover, the soft copy of your policy document will also be sent to you on your registered e-mail id or WhatsApp number. As a result, you will not only keep yourself protected from the possibility of Covid-19 infection but also ensure that your car is covered.

No need for an insurance agent

By opting for the online route for your car insurance renewal, you can purchase the policy directly from the insurance provider without taking help from an agent or broker. This way, your insurer will save on the brokerage charges it may have to pay to the agent otherwise, and hence, offer a reduced quote for your car insurance renewal.

In case you come across any doubts or jargons while purchasing motor insurance, you can ask us on the chat feature or give us a call at 1800 2666. We're available to solve your queries.

Instant policy issuance

When you buy a car insurance policy online, the policy is issued almost instantly. After paying the premium amount, the policy document is sent to you on your registered e-mail id within a few minutes. It means that, unlike the offline policy, you won't have to wait for days to receive your car insurance policy when you buy it online.

This is because the insurers take no time to issue online car insurance policies. There is no lengthy paperwork as the documents are verified through a computerised process.

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Ease of comparison

Before purchasing a car insurance policy from an insurer, it's prudent to compare it with other alternatives available in the market. This allows you to make a better choice and select the policy that's best suited to your requirements and competitively priced. While buying an online car insurance policy, you can easily compare various options from the convenience of your home.

The online comparison helps you save a lot of time and efforts, which you may otherwise have to spend for choosing the right car insurance policy for yourself. You can visit portals of insurance aggregators to get quotes from various insurers for your car insurance renewal and compare them side by side.

Online policies may be cheaper

One of the most important reasons many customers prefer to purchase an online car insurance policy is that it may be cheaper as compared to offline plans. This is because by selling a policy online, an insurer saves on various fronts such as brokerage charges, administration charges, processing fees etc. and passes these benefits directly to their customers in the form of reduced premiums.

During the current pandemic situation, opting for the online route for your car insurance policy renewal seems to be the best option. It can not only help you stay safe from the deadly Covid-19 virus but also allow you to compare various offerings from different insurers and choose the best suitable option for yourself.

Moreover, buying or renewing an online policy is simple, quick and convenient. If you want to renew your car insurance policy online, you can visit our website to get quotations. ICICI Lombard's car insurance policies are replete with benefits such as a 24x7 claim assistance facility, 4300+ network garages across India, personal accident coverage for drivers and co-passengers etc.

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