How to do online insurance comparison?

The internet is dominating most of our purchase decisions today. Almost everything is now available online whether you want to buy goods or services. The online marketplace promises ease, convenience and, above all, the best prices. When it comes to buying insurance policies too, the online platform has the perfect solution. Whether you want to buy a health insurance policy, car insurance policy or a travel insurance policy, you can find a policy online. However, when buying insurance online there is one mantra – compare.

Yes, it is always recommended to buy a policy only after comparing it. Do you know how to do this comparison? Let me give you some important pointers to enlighten you.

  • Plan your insurance requirement

The first step which you should take is to assess your requirement. Find out whether you need to buy or renew a health insurance plan, a car insurance plan or a travel insurance plan. Only after you have planned for the type of insurance plan you are looking for, go online for comparison.

  • Shortlist the online platform on which you want to compare

In case of general insurance, online comparison can be done across three platforms each of which also enables you to buy the insurance plan. Thus, the source of online insurance comparison is:

  • Websites of insurance companies – every general insurance company has a dedicated website where you can find the available products, their details and also the facility of premium calculation.
  • Online web aggregators – online aggregators provide a better platform for online comparison because you can see all available plans from all companies on a single website rather than visiting different company websites. Just choose the type of insurance you want to compare and the aggregator website would list all the available plans to help you compare.
  • Online brokers – online brokers also represent multiple insurance companies and list the plans of all companies they represent. You can find plans from such companies on a single platform and compare between them easily.

So, choose any one among these sources and compare between the required plans.

  • Look at the plan features

When you are presented with a list of plans, compare their features and benefits. Match the features to your requirement and choose a plan which has the best and the most suitable coverage features at the best rate of premium.

  • Look for forums for consumer reviews

What better way to compare between insurance plans than reading customer reviews? Customer and expert reviews on insurance plans and also the insurance company helps you to compare between the insurance plans in a better way. You can understand whether the company and the plan have been good for the customer and then can make your own decisions.

  • Select the best plan from the rest

After you have compared the plan features, the premium rates and the customer reviews, select the best plan according to your needs. The actual beauty of online comparison is to help you select the best plan at the best rates. So, make the most of your comparison and select the best plan.

  • Seek expert advice on any query or for any information

Every online platform, whether it is the insurer’s website, an online aggregator or an online broker, has a dedicated section designed to answer any queries you have. Since insurance is a technical concept, you might get confused on some technical jargons used in plan features. To understand such jargon, seek the help of online experts. You can chat with an online representative, arrange for a call-back or even post your questions online and you would get the answers.

The online insurance comparison is easy since it lets you do your research from the comfort of your home or office. You don’t have to run from pillar to post for comparing and buying an insurance plan if you know how to use the online platform. So, follow the above-mentioned steps to do an online comparison and buy the best product to fulfill all your insurance needs.