The year is 2022. Two decades ago, consumers used to browse online and buy offline. However, things are rapidly changing now, and everything is now instant. Millennials are changing the digital landscape, and multinationals are channeling their resources towards catering to their demands and wants. Companies are mining an ocean of data to find actionable insights into getting consumers to click the Buy Now button. The auto insurance industry is also caught in the middle of this digitization-powered paradigm shift. Amidst all this, buying auto insurance can sometimes be confusing and tedious because of the many options available to you. Purchasing your auto insurance can either be done online or offline. But which is better, online or offline auto insurance? Read along as we compare both buying insurance online versus offline based on several factors.
Cost
Purchasing your auto insurance online is a lot much cheaper than buying it offline. An online insurance purchase eliminates agent commission or brokerage cost, usually passed on to you as a discount. More so, to attract more customers, online insurance companies offer new user discounts, end of the year discounts, and other festival offers that are difficult to get in the case of offline insurance. It is advisable to compare auto insurance quotes online before actually purchasing the insurance. Several comparison websites are available that you can use to compare policies and premium costs of different insurers to make the best decision.
The Process
The process of purchasing auto insurance online is much easier and faster when compared to buying offline. With the latest cutting-edge technology, all the information needed is available with a click of a button, and the entire process of comparing the coverage, selecting the plan, going through the terms and conditions, and confirming payment can now be done in a few minutes. Most importantly, you bounce the tedious and boring task of filling different policy documents. Moreover, suppose you are purchasing your auto insurance offline. In that case, you probably will spend most of your time meeting the agent, deliberating on the policy, deciding on the policy, paying for the plan, and finally, receiving your policy documents at your desired location. All these processes may last for at least 2-3 days.
Transparency
It is a very crucial factor in helping you decide on your preference of buying auto insurance online or offline. On the one hand, in buying auto insurance online, you have the opportunity to read the terms and conditions of the policy you want to purchase and understand the policy wording even before buying the insurance. You have the option of saving the policy details for future reference while assuring you get what you see and what you are willing to pay. On the other hand, if you purchase your auto insurance offline through an agent, you only get to see the actual terms and conditions of the policy after making payment. A dealer might mold his wordings to win the deal.
Claim Settlement
Most auto insurance companies deliver a superb feature of filing your claims online and quickly checking the status of your claim. Online filing also makes the process of settlement very fast and secure. If you purchase your auto insurance offline and want to make a claim, you will have to get in touch with the offline dealer at every step of the claim settlement process. Sometimes, you might be required to physically visit the agent to submit the claim documents and other documents. It will require more time to process.
