Is buying travel insurance online a good idea?
Is buying travel insurance online a good idea?
One question that plagues
most travellers is whether it is advisable to buy travel
insurance online. While the choice is entirely yours, there are some
features that make online purchases a good choice.
No Middlemen
With online purchase, there
is no need for an agent. Most insurers now provide all the necessary
information you need on their websites, helping you make an informed
choice without any influence. While agents visit you to explain the
benefits of a policy, help fill out forms, and collect your cheque, they
might blur certain facts to clinch a deal. This can result in problems
when making claims.
If you are unsure about how
much insurance you need, an online calculator can help determine the
ideal cover and premium amount to buy travel insurance. Additionally, if
you have doubts or questions, you can always reach out to the help desk
for more clarity.
Convenience
As you prepare for your
trip, there are numerous things you will need to do, from shopping to
locking up your home. With all that running around, you might have no
time to physically visit an insurance provider, or even meet with one.
On the other hand, when you buy travel insurance policy online, you can
complete the process from just about anywhere. With technological
advancements, filling out forms and making payments has never been
easier.
You can choose to have a
digital copy of the policy delivered to your inbox, or a hard copy
delivered to your home, whichever is more convenient for you.
Affordable premiums
Usually, when you buy
travel insurance policies online, they tend to be more reasonably priced
as compared to policies purchased offline, due to the absence of
intermediaries. This means premium amounts do not include agents’
commissions. Another factor is lower administrative cost – since you
will be entering your information directly into the system – this also
brings down the cost of your policy.
Having said that, you should not look only for the cheapest policy available. Weigh all your pros and cons, and decide
Faster
No matter what mode of payment you choose, with an offline purchase, you will most likely have to fill out paper forms, which then have to be fed manually into the system to calculate the premium amount. The agent will then revert with the
cost of insurance for your decision. You can easily avoid all this back
and forth when you buy travel insurance online. You can also get the
updated quotes that allow you to make an informed decision.
Comparison
Many websites offer a
comparative study of the various travel insurance policies offered by
the various players. You can view and compare premium and also extra
assistance that is provided by different insurance companies. This study
gives you an idea about which product best suits your needs and you can
make an educated choice instead of groping in the dark.
Reviews
When you visit the insurer’s website – or even a website offering comparative study
of products, – you can check out the review section where people who
have purchased the products earlier post their opinions and experience.
This will give you a better idea of which insurance policy to buy. In
addition, there are plenty of online forums, which can give you further
insight as to which company or product is best.
Claims
Agents and brokers often
portray the process to be lengthy, bothersome with promises to do the
“running around.” However, when you buy travel insurance online, you
can settle claims just as easily as offline. In fact, online settlement
is far simpler not to mention faster. If a claim does get delayed, it
is likely because of one of the clauses such as lock-in or an exemption
under the policy.
Travel insurance has remained under the radar mainly due to the inconvenience of purchase and lack of time on the part of travelers. It is, however, becoming a priority as more and more people travel longer distances more frequently.
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