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Car insurance is prioritized preference of car owners even if it charges more bucks. Car lovers need to get their car insured. This safeguards the finances of the car owner at the time of accidental damage and other mishaps.

But one thing is always to be kept in mind that from whom does the car owner buy car insurance and is it going to pay you off at the time of need. Insurance of a car is necessary for the following reasons:

  • To drive a car legally in India.
  • To get accidental coverage in case of any mishap.
  • To lessen the financial burden of maintenance of a car.

But the question is that from whom are you buying car insurance? Are you planning to buy car insurance from the same dealer you have bought the car or have you got some other plan for your car insurance?

For your kind information buying car insurance from a car dealer has several drawbacks. The same disadvantages have been mentioned below:

Policy Comparison

The car dealers give you information relating to the car insurance keeping in mind their profit and loss. You never know to what extent the information presented in front of you is true. Moreover, you cannot compare the car insurance plans based on the information provided by the car dealer. For a proper comparison what you need to do is compare the car insurance policies being provided by the insurance companies in the market.

Limited Option

There are endless car insurance options in the market but how many of them are provided by the car dealer is the question? The car dealers promote only those car insurance companies that provide them with profit percentage.

Fixed Coverage

Since there has been a limitation in option and policy comparison, you get fixed coverage. In case you could have compared you would have bought a car insurance policy that provided you with better coverage and maximum inclusions.

Getting Car Insurance At Higher Rate

The commission is involved when the car dealers sell the car insurance of particular companies. The price at which you get the car insurance might be higher in comparison to that you get in the competitive insurance market. It is also because all the car dealers who sell insurance to its customers work on a commission basis. A commission amount is fixed between the car dealer and the car insurance company. The more they sell their car insurance policy, the more they get the commission. This might affect your premiums as the car insurance is bought at a higher price and this could prove to be a burden to you.

Confusion At The Time Of Claim

It often happens that the car dealer has explained to you a list of facilities that you would get or you will be able to claim as per the insurance policy but at the time of need they backout. It is commonly noticed that the insured is bluffed in this way. On one hand, the insurance company denies to pay off your damages saying that it was mentioned in the terms and conditions of the policy, while on the other hand, the car dealer imposes all the blame on the insurance company.

The car owner is stuck in such a situation that he can do nothing except feeling helpless. So, always choose a car insurance policy after comparison and read the policy papers thoroughly before signing. In this way, you won’t have to face situations like car insurance claim rejection.

A comparison of car insurance policies has several benefits. It can be checked in several ways. The same has been explained further.

Compare And Buy Car Insurance Policies Online

The car insurance policies can be compared online by 

  • Visiting the companies site,
  • Reading about different car insurance companies and their policies or,
  • Reaching out to an insurance web aggregator who can act as a mediator between you and the insurance company. Insurance web aggregators assist you on call without charging any commission like agents and provide with most satisfying services and authentic information.

Moreover, nowadays we have got for you online comparison tools, using which you can compare different car insurance policies and can easily choose the best one for your car.

Other than this under offline services, you can give a call at the customer care number of the insurance companies and get complete assistance relating to the car insurance policy. You can also directly approach the insurance company for the details and buying of the policy.

Benefits Of Buying Car Insurance Online

Preferring the online purchase of a car insurance policy over the traditional method is wiser in this world of technologies. The online purchase of the insurance policies have benefits of its own. The advantages that one gets in the online purchase are:

  • Cost-effective: The commission charged by the agents has been replaced by the toll-free customer care services. They provide you assistance without charging any extra amount from you. The online purchase of the policies also brings cost-benefit on the premiums of the policy. 
  • Easy Comparison: The comparison can be done easily using comparison tools on different sites. The tools can be accessed at your ease. The policy buyer does not need to consult any of the insurance agents and can perform the work of selecting an insurance policy independently.
  • Purchase at Your Convenience: A car insurance policy can be bought online at any point of time as per the convenience of the policy buyer. One does not need to take out time from busy office hours and visit the insurance companies or stand in long queues to buy insurance.
  • No Fraud: Mis-sellings and insurance frauds are under control with the advent of online facilities in the insurance sector. The policy buyer can read into the policy details before buying any of the policy and no agent can mislead for any of the policies.
  • Simple Paperwork: The paperwork and documentation have also become easier as the policy buyer can easily get a soft copy of the purchased policy. The claim can be applied online and the premiums can also be paid online. All the receipts relating to the payments of the premium are available online on the insurance company portal.

Buying car insurance from a car dealer is risky. It might save your time at the time of buying a policy but at the time of claiming the insurance, you will land into trouble. This can bring to you a financial burden. Insurance is of no use which can not be claimed at the time of need. So, think and decide for better returns.

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Naval Goel is the founder of PolicyX.com. He is an Associate Member of the Indian Institute of Insurance`, Pune. He has been authorized by IRDA to act as a Principal Officer of PolicyX.com Insurance Web Aggregator.
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