7 Reasons Why You Should Get Car Insurance Online

Published: April 20, 2020 | Updated: September 5, 2020 | Posted by: Moneymax | Car Insurance

7 Reasons Why You Should Buy Car Insurance Online | Moneymax

This article was published on May 25, 2016 and was updated on April 20, 2020.

Did you know that you can buy car insurance online?

Yes, paperless transactions do happen in the insurance industry, and you can take advantage of the benefits of going online. Once you’ve purchased car insurance over the internet, you might never want to go back to the traditional paper method.

Here are the whys and hows of getting auto insurance online in the Philippines.

Why Should I Purchase My Car Insurance Online?

1. Save Time Searching and Comparing Quotes

7 Reasons Why You Should Buy Car Insurance Online - Save Time

Convenience is the biggest advantage of shopping for car insurance online. In the past—before car insurance providers and brokers had gone online—car owners would spend hours calling different companies to request a car insurance quote.

But in this digital age, the hours spent collecting and comparing quotes have been reduced to minutes with the help of car insurance comparison websites like Moneymax. Through a comparison site, you can compare quotes from a variety of insurers in one go and find the best car insurance at the lowest cost.

Below is a list of car insurance companies where you can get free quote online:

Car Insurance CompanyFeatures
MAPFRE Insular

Get Free Quote
  • Alternative Transport
  • Overnight Accommodation Amount - P 3,000
  • Towing Amount - P 5,000
  • Vehicle Removal Crane Services Amount - P 10,000
  • 10 Years of casa eligibility
  • 366 accredited repair shops
  • P 5,000,000 Maximum total insured
New India Assurance

Get Free Quote
  • Overnight Accommodation Amount - P 1,500
  • Towing Amount - P 4,000
  • Vehicle Removal Crane Services Amount - P 10,000
  • 10 Years of casa eligibility
  • 30 accredited repair shops
  • P 3,500,000 Maximum total insured
SGI Philippines

Get Free Quote
  • Overnight Accommodation Amount - P 2,000
  • Towing Amount - P 5,000
  • Vehicle Removal Crane Services Amount - P 10,000
  • 5 Years of casa eligibility
  • 36 accredited repair shops
  • P 5,000,000 Maximum total insured
Stronghold Insurance

Get Free Quote
  • Alternative Transport
  • 10 Years of casa eligibility
  • P 3,000,000 Maximum total insured
The Mercantile Insurance Corporation

Get Free Quote
  • Overnight Accommodation Amount - P 2,000
  • Towing Amount - P 5,000
  • Vehicle Removal Crane Services Amount - P 10,000
  • 10 Years of casa eligibility
  • 77 accredited repair shops
  • P 5,000,000 Maximum total insured

Read more: What is a Comparison Website and How Can It Help Me?

2. Purchase Car Insurance Conveniently

When you get car insurance online, you won’t have to go out to visit the car insurance company’s office, get stuck in traffic on your way there, and wait in line. You can easily process your application without leaving your home or while you’re on the go.

Even if you’re very busy, going online allows you to buy car insurance at any time that’s most convenient for you. You’re no longer limited to the traditional office hours when you can transact only on weekdays from 9 to 5.

3. Save on Costs

Along with the time-saving benefit of getting car insurance online, you’ll also save money traveling back and forth to the provider’s location. Rather than meet an agent personally, you can just transact via email, chat, or phone for processing your application or making any inquiries.

4. Get Your Policy Faster

Processing a car insurance policy offline involves a lot of physical documents, which can be time-consuming on the part of the provider or broker. Doing it online makes the process quicker, so you can receive your policy in just one or two business days.

5. Access Your Policy Anytime, Anywhere

7 Reasons Why You Should Buy Car Insurance Online - Access Your Policy Anytime, Anywhere

It’s easier to retrieve your car insurance policy if you got it online instead of the traditional means. You have a soft copy of it on your email and can even save a copy on your smartphone or tablet.

When you have to review your policy, you can just access it from your email or phone anytime and anywhere you need it. No need to go through the trouble of making a request to your provider or agent and waiting for a copy to be sent to you. No need to follow up, too.

6. Renew Your Policy More Easily

Car insurance policy renewal is just as convenient as your first-time purchase—as long as you do it online. Because all your personal, vehicle, and policy information is saved online, the car insurance company can easily access it when it’s time to renew your policy. No need to fill out physical forms for your policy renewal.

7. Save the Environment

7 Reasons Why You Should Buy Car Insurance Online - Save the Environment

For environmentally-conscious car owners, buying car insurance online is a great way to save trees and reduce carbon footprint. Since the entire process doesn’t involve using lots of paper and printing, you’re contributing to the efforts to conserve the environment.

How to Process Your Car Insurance Online?

The entire process is simple, but you’ll still need a few physical documents to start your online application for car insurance.

What are the Requirements to Get Car Insurance Online?

Here are the documents you’ll need to submit:

  • Your vehicle’s Original Receipt (OR) and Certificate of Registration (CR)
  • Driver’s license
  • Any valid ID, apart from the license
  • For second-hand vehicles: Deed of sale (1)
  • Previous car insurance policy, if any
  • Photos of your car

Most of the legwork involved is getting these documents to a scanner and saving high-resolution images and PDFs before sending them over via email.

How to Get Car Insurance Quote Online?

While most insurance companies have not made the transition to online sales in the country, some of the companies that offer the most value for money can be engaged online.

While the task of searching sounds daunting, it actually takes a quick search using Google or your preferred search tool to look up car insurance companies that sell car insurance online. Have your documents on hand so that you can put in pertinent details regarding your car on their respective websites. It’ll be easier to get an accurate quote if your details are accurate.

Your quote will be based on several factors, such as your car’s age and fair market value, and the car insurance coverage and add-ons that you plan to include in your policy.

Once you’ve requested a quote, you’ll receive a call from the sales team for further confirmation and a more in-depth look at your possible policy.

Note that you’ll have more than one option when it comes to insurers, all with varying prices and covers, so be sure to carefully consider your options. Once you’ve locked in, you’ll also receive a copy of your policy. Depending on the provider, you’ll have both an electronic and physical copy.

A more efficient alternative to getting quotes is using a car insurance comparison website like Moneymax that aggregates quotes and other details from multiple providers in the Philippines. This saves you time searching for every car insurance company.

Read more:

In just a few clicks, you can view the cheapest quotes based on your vehicle information. Through this online broker, you can even proceed to buy car insurance online and receive your e-policy within 24 hours.

How to Pay for Your Car Insurance Policy

One lingering question that might need answering is how you can pay for your car insurance policy.

If you’ve decided on a particular set of covers and add-ons on your policy, you’ll have several payment options at your disposal:

  • Bank deposit
  • Bills payment and remittance centers
  • ATMs
  • Credit card
  • Check payment
  • Online banking channels
  • Mobile payment apps (GCash, PayPal, etc.)

Tip: Make sure that whichever payment method you choose, you’ll avoid mistakes by getting your chosen provider’s bank details via e-mail.

Final Thoughts

Going online eliminates the hassle of lengthy drives or commutes to the car insurance company’s office, and the sales agents that get assigned to you are always quick on the uptake and ready to answer questions you might have, especially if it’s your first time attempting such a transaction.

When you get car insurance online, you save a lot of time, money, and effort—and you help preserve the environment, too. So why don’t you take advantage of it now? Make the most out of the benefits of buying car insurance online if you get your policy through Moneymax—from comparing car insurance quotes to filing a claim.

Get car insurance from Moneymax!

Source: (1) Deed of Sale of Motor Vehicle (Philippine Legal Forms)