Everything you need to know if you are planning to buy insurance policy online

Insurance policies have gone from being an optional luxury that one can do away with to being an important aspect of safeguarding yourself and your assets.

The importance of insurance policies have steadily increased over time, and more and more people have been buying insurance policies. You, too, might be on the lookout for the right insurance policy for any of the varied reasons, and there could be questions nagging you now.

Is insurance available online?

Yes, insurance is now available online. Buying an insurance policy is now easier than ever, with the whole process taking only just a few minutes of your time.

The insurance sector has seen a lot of new insuretech startups emerging into this platform. Among them, Digit insurance has left a strong impression on the policyholders with their user-friendly website, hassle-free quick process of obtaining a policy, and high claim settlement ratio.

It is as much easy to buy insurance online with Digit as it is to check out your favourite dress online. This award-winning insurance company was one of India’s top startups in 2019.

The benefits of choosing this general insurance company are:

• Hassle-free process: You can buy an insurance policy with Digit within a matter of minutes.
• Superfast claim resolution: Digit has a speedy process of examining claims and processing them.
• No hidden costs: The breakup of the premium you pay will be clearly communicated to you and there are no hidden costs whatsoever.
• Jargon-free easy to understand documents: The documents regarding the terms and conditions of the insurance policies are written in easy-to-understand simple language.

Types of Insurance Policies Available in India

It would come as no surprise that insurance companies have policies to safeguard everything you hold close to – your family, health and assets. Within each product, there are various types of insurance policies available. Here are the insurance products available in the market:

1. Life insurance: Life insurance will give a benefit amount to the surviving members of the policyholder when the policyholder passes away.
2. General Insurance: General insurance can be categorised into the following types:
   1. Motor insurance: This provides compensation if any damages are caused to your motor vehicle or if you cause any damage/ injury to a third-party and his vehicle/property. You can insure your four-wheeler, two-wheeler and commercial vehicle this way.
   2. Health insurance: This provides insurance coverage for when you get hospitalised. You can opt for individual or family health insurance, corporate health insurance from your employer or senior citizen health insurance policy.
   3. Insurance for property: You can insure your shop, home, office or the building you own with a property insurance. It will insure your property and its contents against fire, theft and other mishaps.
   4. Travel insurance: If you are travelling abroad you can opt for an international travel insurance which will protect you against accidental emergencies, theft of passport, loss or delay of baggage, cancelled flights etc. You can also opt for similar domestic travel insurance.
   5. Byte-sized insurance: These are short-term insurances such as travel insurance, insurance during pandemics and epidemics etc.

Attribution: This article has been written by Ms. T. N. Arya.