Advantages and Disadvantages of buying insurance online - Greyfont

Advantages and Disadvantages of buying insurance online

 We need not step out of the house for daily chores. At the click of the button things reach your doorstep.

The trend of shopping online is increasing everyday. Why limit shopping online only to clothing, accessories, cosmetics and other lifestyle products. Have you ever thought of buying an insurance online? This trend of buying policies is gaining acceleration in this digital world of ours. You can browse various insurance options online instead of involving any intermediary. The products like health insurance, travel insurance, automobile insurance , life insurance etc., can be bought depending on your prerequisite. At the comfort of the customers home, office or be it any where in the world and just by visiting the site he/she can make payments online by Online banking option or Debit/Credit card.

Now the question arises if its really safe to buy insurance online?

Yes, as you are buying direct from the company and surpassing  the intermediary , company provides the benefit to you by offering same product at cheaper rates. Most of the companies offer different insurance plans. With standard measures you can compare these plans for the products falling in the same category. Like every coin has two sides let us look at the advantages and the disadvantages of buying insurance online.




  • One can choose from diverse range of plans and zero in for the best suited policy keeping in mind their needs.
  • The comparison of features, prices, benefits offered, coverage can be done on one platform.
  • The entire procedure is cost-effective as well as convenient as it requires less paper work. Deals are done directly with the company, thus saving on the distributors commission.
  • Getting first hand information from the company itself is important as it many not be authentic if bought from other source.
  • There are toll free numbers or online chat features available for guiding about the policy.
  • The online process gives the policyholder to make decision for themselves such as paying premiums, policy renewal, tracking investments etc..
  • Reviews are considered as an important facet of every online website. They provide an invaluable feedback as the customer might have used or have experienced the product.




  • There are certain drawbacks while purchasing the policy online. You many not get complete knowledge of the product that you need to buy.
  • The e- system has its own short comings , one of them being lack of customization. Negotiations over the plan rates are also not possible.
  • The terms or clauses used by the companies are generally not common so, you many end up buying the wrong product or paying high premium amount.
  • You need to be careful of Online scams as there is financial and personal information on the company site that you have taken the policy from.
  • Insurance companies still don’t have a processing mechanism for claiming online. So, in you want to file a claim you have to get in touch with the customer care representatives.



A customer should be vigilant while purchasing online insurance. Both the traditional and the modern methods have their own set of pros and cons. One must check the SSL(security Certificate) to avoid online frauds while making an Online transaction. Read between the lines carefully, it may have hidden values as the amount you have invested is large and hard earned. Follow the rules that are standardised as you are the sole point of contact.  


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