Do I really save money by renewing car insurance online?

Saving money and insurance in the same sentence doesn’t seem right..

However, recent tech developments and Fintech emerging in the market, are helping online insurance providers be more competitive..

Online car insurance would not only save you money but would also offer other added benefits.

With hosts of features, online car insurance renewal is an entirely different experience. Renewal of your car insurance policy online is simpler, convenient, and less costly.

Here’s how:

Buying Online is More Affordable

Yes. You read it right, it’s more affordable.

The administration work with a lot of documentations makes offline a costly affair. Intermediaries involved in the offline process is bypassed when you buy insurance online. Insurance companies with a network of agents make buying offline insurance expensive.

Online these costs are far lower and thus, the insurance company saves money. This benefit is then passed on to the customers in the form of lower premiums. This way car insurance renewal is easy and cheaper.

Compare plans to save big

The best thing about buying online is the comparison. When you plan to purchase or renew online, you have a chance to compare plans offered by different insurers. You can compare plans, premium prices and features by various insurers. This way you get an opportunity to compare and save, which is quite tiresome in offline process.


It’s a different experience altogether. Sit back, compare, and get the best plans within minutes. The comfort and convenience it comes with are not what you can expect when it comes to offline.

When you buy online, you don’t have to book an appointment with an agent or spare time for visiting an agent or company. When it comes to online, all you need to do is go and visit the website and then renew the insurance from anywhere at any time. Car insurance renewal online can be done on the go. You can use your laptops or can simply by using your smartphone. That’s the convenience.

Instant Policy

Getting car insurance policy online is another way you save money. You get an instant policy online. You will have the policy in hand before your next drive. Moreover, there is no way that you can lose the policy. You receive the policy in your inbox as a soft copy. All you need to do is, create your login details to have an easy access to your insurance policy 24/7!

Whereas in an offline mode, there is a possibility of losing a hard copy.

This way you save time and ultimately money.

Compare and choose add-on cover

With a comprehensive policy, you have an option to buy additional paid features commonly known as add-on covers. These add-on covers come with an extra cost. However, you can compare the features offered by the different insurer and save big. Buy only those add-on covers which are necessary. Only after comparing different add-on covers provided by the different insurance company which is easy to do it online.


You can easily check the amount of discount on the premiums. If you are doing a renewal and you know that you hadn’t lodged a claim in the previous policy period then certainly you are entitled to get a No Claim Bonus. No Claim Bonus is nothing but a discount on the premiums in case you have a claim-free year. Depending on the number of claim-free years, the premium amount is reduced.. Moreover, you can install IRDA approved anti-theft to get more discounts.

This overall experience and saving money while doing a car insurance renewal online is what makes buying an insurance policy a different experience. Car insurance renewal online comes with many benefits and opportunities to save money after comparing different plans which are not at all easy to do when you think of buying offline.