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What happens after you buy car insurance online-Chola ms

There is so much discussion around how to be smart about buying car insurance online. However, not so much is spoken about what happens after you buy car insurance online. What should you expect? To know this, let us revisit first some basics. 

What is car insurance?

·         Car insurance is an agreement between the insurance company and the car owner wherein, the car owner will pay premiums and the insurance company covers for loss or damage caused to the car

·         Car insurance is popularly known as auto insurance.

·         Car insurance policy is bought to protect your car from unexpected accidental risks. It mainly gives you protection against the losses that you incur in case of unavoidable instances.

·         Car Insurance is mandatory in India regardless of whether it is a commercial vehicle or a personal vehicle.

·         Car insurance helps you get cover against financial losses caused due to accidents, liabilities and in some cases, even theft.

·         The premium of car insurance depends on certain factors like; the value of your car, types of coverage, voluntary excess & vehicle classification.

·         Car insurance coverage gives you the confidence to drive without worries. In case of emergencies, it acts as a life-saving toolkit for the insurance holder.

·         To get all the benefits continuously, renew your policy on time.

Car insurance provides coverage for

·         Property – such as damage to or theft of your car

·         Liability – your legal responsibility to others for bodily injury or property damage

·         Medical – the cost of treating injuries, rehabilitation and sometimes lost wages and funeral expenses

Purchasing car insurance online

Purchasing car insurance online is a pretty simple process. After you’ve gathered all of the necessary information, you’ll just need to enter it into the online form. Once you submit the form, you’ll be able to review the different policy options and choose the one that’s right for you. After you make your purchase, you’ll receive a confirmation email with all of the details of your new policy.

Types of car insurance policy in India:

  1. Comprehensive car insurance:

 A comprehensive car insurance plan provides complete cover against third-party/person/property liability and for damages (collision, theft, accident, and more) caused to your own vehicle. You can also avail of a wide range of rider options such as zero depreciation, roadside assistance, personal accident cover, and more at the cost of an additional premium. This type of plan is a 360-degree car protection plan; ideal for all car owners.

  1. Third-party car insurance:

 Third party liability insurance offers limited protection. A third-party car insurance only provides cover (death, disability, injury, and more) against damages incurred to a third person or property. It does not provide cover for you and your car.

Benefits of buying car insurance online:

Buying car insurance online has become a common practice as it offers numerous benefits. You can get your car insured against damages and financial losses caused due to accidents, fire, thrift etc.

  1. No more agent

·         Concrete and reliable information which helps you make the right decision.

  1. Zero paperwork

·         Application is filed digitally along with a scanned copy of required documents with minimal to no paperwork

  1. Cost effective

·         Eliminates the need for an agent which reduces any commission costs along with frequent discounts.

  1. Convenient and Time Effective

·         You are not limited by working hours branch & agents. Buy policy in your convenient time.

  1. Payment Reminders

·         Our mobile app sends reminders at frequent intervals. So you never miss a due date.

  1. Easy Endorsement

·         As easy as submitting a self-declaration and verification of the amended information to your insurer.

  1. Pay Premium Online

·         Digital payments is the new choice & our platform supports all digital payment channels

  1. Soft Copy of the Document

·         Receive a digital copy of your insurance policy via email & mobile app.

What happens after you buy car insurance online

After you buy car insurance online, you will need to complete the application process. 

Personal Information: This usually involves providing personal information, such as your name, address, date of birth, and driver’s license number. 

Vehicle information: You will also need to provide information about your vehicle, such as the make, model, and year. 

Once you have completed the application process, you will be able to print out your insurance card and policy documents.

Pros and Cons of buying car insurance online

There are a few pros and cons to buying car insurance online that you should be aware of before making your purchase.

The Pros:

-You can do it from the comfort of your own home

-It’s generally cheaper than buying through an agent

-There’s no pressure to buy as you retain control over your decision process

The Cons:

-It can be difficult to compare rates without speaking to an agent 

-If you have questions, it can be hard to get answers from an online company

-You may not get all the discounts you qualify for if you miss ticking or checking the relevant options. 

Things to consider when buying car insurance online

When you buy car insurance online, there are a few things you should consider. First, make sure you are getting the coverage you need. There is no point in paying for insurance that doesn’t cover your needs. Second, make sure you are getting a good deal. There are a lot of companies out there and some offer better rates than others. Third, make sure the company is reputable. You don’t want to be stuck with a company that doesn’t pay out when you need them to. Finally, read the fine print. Make sure you understand the terms and conditions of your policy before you agree to it.

 Wrapping up!

When you buy a car insurance policy that is best suited to your requirements you create a strong financial backup in case of unfortunate events. Buying car insurance online has made it easier for people. Car insurance is an investment that every car owner should invest in.

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