5 Reasons to Buy Motor Insurance Online

Car insurance policies can either be bought online or through insurance agents. Read this post to find out some reasons that makes online purchasing the preferred option for many car owners.

While car insurance policies have been bought through insurance agents for ages now, people are now increasing warming up to the idea of buying it online. If you’re still sitting on the fence whether you should opt for the online route or not, here are five reasons why you should switch to online buying when it comes to car insurance policies.

1. Set your Own IDV

Insurance Declared Value or IDV is the total sum that the car insurance company promises to pay you in case your car suffers total loss or damage. Thus, this is the maximum value of your car. While a higher IDV means a higher premium, the lower premium can be detrimental to the market value of your car during reselling.

Thus, it is important to set the right IDV. Setting it higher than the IRDAI (Insurance Regulatory Development Authority of India) guidelines can lead to rejection of your claims in case of a total loss. To set the right IDV, follow the guidelines set by the IRDAI mentioned below.

Car Age


One year


Two years


Three years


Four Years


Five years


For cars that are more than five years old, IDV can be set as per mutual agreement between the car insurance company and the car owner.

2. Variety of Options

Another benefit of buying a car insurance policy online is the wide variety of options to choose from. You can see quotes from various car insurance companies and choose a policy that offers the best value for your buck in terms of inclusions, add-ons and other factors. You can use third-party portals to see various car insurance quotes on one page and buy a policy that best suits you.

3. Choose Your Own Add-ons

Buying a car insurance policy lets you choose the add-ons you prefer and see the changes in the premium in real-time. This helps you choose the add-ons that you will really need while weeding out the ones that may be too expensive to you.

4. It is Faster and Cheaper

Buying an insurance policy is not only convenient but also faster too. All you have to do is choose your preferred policy, fill in the basic details and pay up. Once done, the policy document is emailed to your email address. You can also ask the company to courier it to you at your registered address. The entire process can be over within a few minutes.

Not just faster, but buying a car insurance policy is cheaper too. Companies selling policies online have lesser overhead costs which are passed on to the customers in terms of discounts and offers.

5. Negate out all the Noise

While insurance agents can help you zero-in on the right insurance policy, they can also be overwhelming for you and seem manipulative while trying to sell you a plan that may not be of best interest to you. Buying motor insurance online lets you cut out all the noise and let you select a policy that can actually benefit you.

Compare and Buy the Best Car Insurance Policy Online

Buying a car insurance policy comes with various benefits. Make sure you choose the best policy after comparing at least a few insurance quotes. Once you shortlist a few policies, do check the inclusions and exclusions of the policy before buying.

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