Insurance is like a spare tyre. You may not require it, but not having one is not an option.
  • Should You Approach An Agent When Buying Car Insurance?

     4.5 / 5.0   by 2078 users
    Used this product? Write a review >>

    Policy Coverage

    Customer Service

    Claim Experience

    Responsiveness

    Cashless Garages

    About 10 years ago, the only way in which one could procure a suitable insurance policy was through an agent. With the advent of insurance sales through the internet, customers have begun to realise that online insurance purchase is, in fact, a very convenient option. Here, we have put together the advantages of buying car insurance through the online route and the traditional offline mode.

    Channels For Car Insurance Purchase

    In India, it is possible to buy motor insurance through various channels:

    1. Through agents - Agents can be classified into two types:
      1. Captive agents - A captive agent sells the policies of only one insurance provider. This agent works directly for the concerned insurance company. The responsibility of a captive agent includes getting business for a specific insurance company. Despite the presence of a customer service centre for the insurance company, the agent would handle most of the needs/queries of the customer directly.
      2. Independent agents - An independent agent sells insurance from multiple insurance providers. They sometimes sell the insurance of a primary carrier in greater number, but can also be accessible to place business with other insurance companies, if it is beneficial to the customer.
    2. Through dealerships - When you buy a car from a dealership, you will have the option of buying insurance through the dealer. Most dealerships would have partnerships with insurance service providers. You may not receive the most cost-effective insurance policy this way, so you should do your own research before agreeing to buy the first insurance solution that the dealer presents you with. Some dealers have year-end promotions that bundle insurance with the purchase of the vehicle itself. If you are planning to buy a car during such a sale, you should go through the terms and conditions provided in the insurance documentation and weigh it out with the premium quoted to see if you are getting a good deal.
    3. Online - Buying car insurance online is one of the most reliable and hassle-free ways in which you can get coverage. You stand to benefit from premium discounts and easy policy maintenance through this route. You can choose to buy insurance directly from the website of the insurance company or purchase from a neutral insurance broking website. The advantage of buying through a neutral website is the fact that you will be able to compare insurance plans across an assortment of insurance companies and find the best deal out there.

    Advantages Of Approaching An Agent

    If you approach an agent to buy a motor insurance policy, you can benefit from the following:

    1. Receive personalised service - Many customers still prefer personalised service as far as financial products are concerned. For those who are not very tech-savvy, approaching an agent is a better way to get information about a policy than working your way through a series of voice prompts.
    2. Knowing your area - If you have a local insurance agent who is aware of your area, you will benefit greatly. In case you have to file a claim, the agent will be able to suggest appropriate body shops or glass retailers in your locality, apart from helping you with the claim intimation process.
    3. Bundling discount - Most agents are able to offer you bundling discounts when you buy multiple policies from the same insurer. This facility is not easily available online.

    Points To Note Before Buying Insurance From An Agent

    • Authorised agent - Ensure that the agent you are approaching is licensed by the IRDA to sell insurance. Insurance agents are required to take a certification exam before starting insurance sales. This is essential for them to be able to provide sound advice to a potential customer. So, it is advisable to ensure that the agent is an authorised personnel from the insurer you are dealing with.
    • No cash payments - Never make cash payments to an agent. It is best to pay premium through a cheque or credit/debit card. Before writing the cheque, make sure you contact the insurance company to get the correct name that needs to be written on the cheque. Also, write this on the cheque yourself.
    • Get a receipt - After you pay the premium to the agent, make sure that you get a receipt for the payment.
    • Check the coverage - Agents work on the basis of commissions; so they may try to upsell a specific product that may not be very useful to you. So, it is best to do your homework before you get in touch with an agent and inform him/her about your specific insurance needs.
      • If you are offered a very attractive price on the policy, check the coverage under the plan. The agent may be offering you a very low premium by reducing the extent of coverage under the plan. Also, pay close attention to the exclusions and add-on covers.
      • Most agents provide a quote that includes the cost of add-on covers. You should assess whether you really need this coverage and if you don’t, request for the price of the base policy.
      • Agents can also reduce the Insured Declared Value (IDV) of the car itself to bring down the premium quote. This implies that you will receive a lower amount at the time of a total loss claim under the policy.
      • Check the voluntary deductible amount under the policy. If this value is very high, you will have to bear a large portion of the claim amount.
    • Special offers - Agents may increase the price of the base policy and then offer you a discount. This way, you will be under the impression that you are getting a good deal on your car insurance premium. As indicated above, it is important to be aware of the standard market prices by comparing plans across insurers.

    Advantages Of Buying Insurance Online

    Online purchase of insurance offers you the following benefits:

    1. Quick and convenient - Buying insurance online is easy and free of the hassles of unlimited paperwork.
    2. Increased savings - When motor insurance companies sell insurance online, they eliminate the processing and distribution cost heads that are associated with agents. This helps them bring down the premium for online policies and still retain the income margins they are targeting.
    3. Better understanding of the product - When you research on the different car insurance offerings in the market for online purchase, you will have a better understanding of the product. If you are comfortable with the legal terminology in the insurance policy documentation, you need not have an agent to make a judicious purchase.
    4. Highly secure - Online insurance purchase is very safe, as the websites follow global security norms. If the agent you approach is not an authorised seller of insurance, you may fall prey to fraudulence that is very common in the insurance industry.
    5. Easy maintenance - When you buy an online car insurance policy, you can easily renew it or download the documentation for reference. The insurer may also send you renewal reminders when it is time to pay the premium. Hence, the process of policy maintenance is eased to a large extent.

    From the aforementioned points, it is evident that buying insurance through each of the channels has its own set of advantages. It is up to the customer to understand the intricacies involved in the purchase process and make a calculated decision.

    Car Insurance Reviews

  • Page 1 of 50 1 2 3 4 5
    • National Insurance Car Insurance
      "Good Service so far"
      0.5 4.0/5 "Great!"
      My car is insured with the National Insurance. I have a paid a premium of 27000 and I don't know much about the policy in detail. So far it has been a good experience and I never claimed this policy.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jul 14, 2018
    • Bajaj Allianz Car Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have my car insurance with Bajaj Allianz from last 6 months, a premium of Rs 12500 has to be paid every year for this insurance policy. I have not claimed anything so far from this insurance policy. They cover bumper to bumper damage and i am satisfied with it.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jul 13, 2018
    • National Insurance Car Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have my car insured with National Insurance from last 5 years, i am happy with the coverage value of this insurance policy. I have not claimed anything so far from this insurance policy. I pay a premium of Rs 5500 for this insurance and they cover third party damages.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jul 13, 2018
    • HDFC Ergo Car Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I hold a car insurance policy with HDFC ERGO from more than 4 years, a premium of Rs 8000 has to be paid every year for this insurance policy. I have not claimed anything so far from this insurance policy. I am happy with the coverage value of this insurance policy.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 13, 2018
    • National Insurance Car Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      My car is insured with the National Insurance. I have Claimed it once and it was a seamless experience. I am paying a premium of 12000 an year and the IDV value was also fair for my car. Overall it has been a very good experience with the national insurance.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jul 12, 2018
    • Iffco Tokio Car Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I've taken a Car Insurance policy with the IFFCO Tokyo. I am paying a premium of 30000 Per year, they also offered a fair IDV value for my car. The policy has got roadside assistance and cashless garage facility as well. I've claimed the policy twice. It was very fast and they precessed the claims with out any hassle.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 12, 2018
    • HDFC Ergo Car Insurance
      "Average Policy"
      0.5 3.5/5 "Pretty good"
      My car insurance is with HDFC ERGO from last 1 year, i pay a premium of Rs 12000 and it has to be paid every year for this insurance policy. I have not claimed anything so far from this insurance policy. I am not happy with the coverage value of this insurance policy.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 12, 2018
    • Bajaj Allianz Car Insurance
      "Good Service so far"
      0.5 4.0/5 "Great!"
      My car is insured with the Bajaj Allianz. I am paying a premium of 6000 year, I do not have any claim experience. It provides road side assistance and cashless facility in selected garages. Overall it has been a hassle free experience with the car insurance policy.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jul 11, 2018
    • Bajaj Allianz Car Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      My car is insured with the Bajaj Allainz. I am paying a premium of 16500 per year for Zero depreciation. I do not have any claim experience with the policy still considering the plan coverage and policy benefits it has been a good experience with the policy so far.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 11, 2018
    • United India Car Insurance
      "Good Policy"
      0.5 5.0/5 "Blown Away!"
      I have taken car insurance from United India assurance Am satisfied with the premium month even i had claim experience they responded very well for claiming process, this policy doesn't cover bumper to bumper cover as my car got old. Making the payment annually through the agent.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Jul 10, 2018
    • ICICI Lombard Car Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I hold a Car insurance with ICICI lombard from last 7 months, i am happy with the coverage value of this insurance policy. I have not claimed anything so far from this insurance policy. They cover bumper to bumper damages and i pay a premium of Rs 10500 for this insurance.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 06, 2018
    • HDFC Ergo Car Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have my car insured with HDFC ERGO from last 3 years and it is a good policy to use. I pay a premium of Rs 6300 for this insurance policy. I have not claimed anything so far from this insurance policy. I am happy with the coverage value and they cover bumper to bumper damages.
      Was this review helpful? 0
      , kochi
      Reviewed on Jul 05, 2018
    • HDFC Ergo Car Insurance
      "Below average service"
      0.5 2.0/5 "Expected more"
      Taken car Insurance from Hdfc general insurance company for last 2 years .And am making payments through on-line banking service annually . It has the benefits of bumper to bumper coverage , cashless garages Their customer service and response is good . It has good coverage policy.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 03, 2018
    • United India Car Insurance
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have four wheeler, whuich have insured with the United India Insurance company. I would like to say that the response is an excellent one too with the United India Insurance company. Coverage value is around 2.9 lakh Rupees with them as such.
      Was this review helpful? 0
      , jaipur
      Reviewed on Jul 03, 2018
    • Tata AIG Car Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      My car is insured with the Tata Aig Car insurance. I pay a premium of 15000 per year. They have also offered me a fair IDV value for my car. I never had any issues with the their services. Overall I never had any issues with the car insurance policy so far.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 02, 2018
    • review Car Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have my car insured with Bharti Axa general insurance from last 2 years, i have not claimed anything so far from this insurance policy. I pay a premium of Rs 11500 for this car insurance. The coverage value is good with this insurance and they cover both bumper to bumper and third party.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 01, 2018
    • National Insurance Car Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      My car is insured with National insurance from last 10-12 years and it is one of the good policy. I pay a premium of Rs 9000-10000 for this car insurance. I have claimed once in 2010 and the experience was very good, road side assistance was given and there was a cashless garage.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Jul 01, 2018
    • Shriram Car Insurance
      "GOOD"
      0.5 4.0/5 "Great!"
      I have got my car insurance from the SHRIRAM GENERAL INSURANCE through the showroom where i have got the car. I am holding it since last 1 year and 8 months. Actually i had a no claiming experience with the insurance for my car. Coverage is good in my insurance.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jul 01, 2018
    • National Insurance Car Insurance
      "GOOD"
      0.5 4.0/5 "Great!"
      I am holding the car insurance from the NATIONAL INSURANCE. I have a good experience with the life insurance I have got through the on line where the process is so simple. I had a no claim experience i had so far with my insurance. The coverage is for B to B.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 01, 2018
    • United India Car Insurance
      "Good Service so far"
      0.5 4.0/5 "Great!"
      My car is insured with the United India, I am making the payments online. I never had any claim experience with the policy so far. Considering the policy coverage and plan benefit, it has been a smooth experience so far.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 29, 2018
    Common Loader Icon
    Page 1 of 50 1 2 3 4 5
  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.