Online shopping is no longer limited to the usual merchandise that we purchase on eBay or Amazon. Today, you can easily purchase auto insurance coverage with just a click of a button. Recent reports from PRNewswire indicate that by the end of 2009, a staggering 20% of online purchases for auto insurance policies took place as compared to the previous year.
The internet started humbly with few private networks connecting to each other. Its main function is to focus on the academics and military applications. But since the introduction of the public information superhighway in the 90’s, the internet has become an indispensable tool for many business owners, corporations, private individuals, etc. for different purposes.
ComScore Inc., a company that keeps track of market trending and demographic on the internet, released a report that showed around 38 million auto insurance quotes were served online in the U.S. in 2009, and almost 3 million had actually purchased the quotes using the internet. Because online quotes are easy, fast and free of charge, many consumers are taking the advantage of this offer to find the better deals for their insurance premiums.
For the past years, people relied on telephone calls and office visits to get their insurance quotes. As recently as 10 years ago, there are still a handful of insurance companies that requires you to make a call, talk to their sales agents and probably will be put on hold while they are manually locating for the information. During that time, searching for better insurance deals is a time consuming process.
Luckily, we are no longer experiencing this delay anymore using the internet. If you want quotes from, let say, 20 different insurance companies – no problem. All you have to do is to logon to an insurance comparison website, fill out the form by answering few questions, hit the enter key and just wait for your quotes to arrive within minutes. Using the same technology, you can make outright purchases and receive instant coverage very easily.
But we do not recommend such an idea of purchasing auto insurance instantly without thinking. Why not ask your friends or colleagues about their personal experiences with their insurers or perhaps surf the internet for companies and consumer organizations that review these products. Most of them, if not all, should have some form of ratings and unbiased opinions, which can help you in your decision-making.
Many insurance companies allow their customers to make payments and even file claims online. You do not have to worry about the transactions because they are being carried out in a secured environment. Insurance companies are using military grade encryption systems to protect you from perpetrators.
The idea of having “paperless” transactions means that the insurance company is saving some of its overhead cost – which normally the end consumer will benefit the most. Moreover, the internet also served as a playing ground for businesses that promotes healthy competition between one another and that could further lower down the cost of insurance.
We have not seen any disadvantages of any type if you shop and buy your insurance online. What you need is just a reliable internet connection and all your pertinent information.