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Online Motor Insurance - An Industry Snapshot

Posted by - ICICI Lombard, GIC Ltd.
October 02 2013

When it comes to investing in a motor insurance policy, one looks for a plan that adequately covers and offers adept financial assistance during vehicle damage, theft, and road accidents. Car insurance industry in India serves vehicle owners three basic purposes:

  • 1. Protection for vehicle and its owner from various man-made and natural calamities
  • 2. Protection from third party liability
  • 3. Protection from legal repercussions (the plan is mandatory by law in India)

One of the best things introduced by the Indian motor insurance industry is the facility to purchase online. This simple feature has revolutionized the way people buy insurance plans. In earlier days, one required travelling distances and shuttle from one company to the other just to know what is being offered. The present scenario is different, simple, and highly efficient.

Why Motor Insurance Online?

There are many practical reasons to buy car insurance plan online.

Saves Time

You don't need to save a specific time period to choose the Insurance plan. It is also not necessary to sit for hours at one place and wait to get convinced to buy the plan. With World Wide Web as the best platform in today's time, you just need to choose time as per your convenience and search for plans in minutes.

Saves Efforts

Since you are using the World Wide Web for buying an insurance plan, there's no need to travel to the insurance office and back home. You just need to buy one from the comfort of your home in few mouse clicks.

No Hassles

Buying online car insurance plan means you don't need to face hassles of collecting documentation. Most insurance companies in India accept online forms and only a few requisite documentations to process the plan.


Many insurance companies in India offer quotes to their prospective clients. This is a dedicated attempt to help them understand a plan in detail and decide on one that best suits their requirements and budget.

Easy Renewal

Renewing your plan online is easy. It saves you a lot of time, efforts, and money.

Making Claims

This is one of the most complicated issues associated with insurance policies. Visiting the official website of the insurance company will help you get detailed information on how to make claims, the requisite documents, procedure, and clauses. You can get information online 24X7.

With so many benefits of buying motor insurance online, it is definitely worth considering once. So next time you buy a new car insurance plan or buy an existing one, go online!

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