Should I trust online insurance brokers?

With everything available online, you shouldn’t be surprised to know that you can buy insurance policies online too. Insurance company websites, online aggregators and online brokers – each of them facilitate the purchase of any insurance policy online and that too, with least efforts required. Though insurance companies and online aggregators too sell insurance online, online insurance brokers have an edge over them. Since brokers have expertise, they provide you with the relevant information when selling the insurance plan. Though brokers are good, can they be trusted?

Yes, they can be trusted. Online insurance brokers are extremely safe when buying an insurance policy. If you don’t believe me, here are the reasons why you can trust online brokers to buy your insurance policy:

They are licensed by the IRDA

Just as insurance agents require an IRDA (Insurance Development and Regulatory Authority) license, online insurance brokers can also do business if they are licensed by the IRDA. An IRDA license is granted to genuine insurance sellers and as online brokers have this license, they are authorized sellers of insurance policies and can be trusted. Any discrepancy in their actions can be notified to the insurance regulator.

They have a verified payment gateway

When you buy an insurance policy from an online insurance broker, you are required to pay the premium too online. Since premiums are paid through the digital mode, online brokers have extremely safe and secured payment gateways which protect your payment details. Online brokers ensure that you do not fall victim to internet fraud through their internet security measures.

Online brokers provide 24*7 assistance

Though your agent might be a trusted relative/friend, there might be times when your agent might not be around to render you the required service. Online insurance brokers, on the contrary, have a 24*7 active presence through their website. In case of any query, you can chat with their representative online, call their customer care number or even send them an email anytime you like and they revert back to you with a solution.

They provide assistance at the time of claims

Online insurance brokers have dedicated claim service assistance. You can contact the broker for any claim-related query you might have through an email, phone call or by leaving your query on the broker’s website. Thus, online brokers ensure you service assistance in case of claims too.

Online insurance brokers help in providing the best insurance solution for your needs

Brokers deal in insurance products of multiple companies. As such, they give you an unbiased advice on the best plan according to your needs. They list all the plans available to let you compare and decide on the best plan suitable to your requirements.

Because of the above-mentioned factors, online insurance brokers can be trusted when you think about buying an insurance plan. In fact, their expertise and round-the-clock assistance help you both at the time of buying the policy and also after you have bought the policy and have any queries. In order to choose the best insurance plan from the best online insurance broker you should,

Ensure that the online broker is reputed and renowned.

Ensure that the online broker holds a valid IRDA license

Review the broker’s performance since establishment

Find out whether the broker has a claim assistance service on its portal

Understand the payment gateway allowed by the broker and see if it is secured

Contact the broker’s helpline for any queries before you buy the product

When you buy the product, make sure to compare between the available plans and then buy the product. If you follow the above guidelines, you would not regret buying your insurance plan from an online broker.

Online insurance brokers are trustworthy and help you choose an insurance policy most suitable for your needs. They also have an online assistance service for any queries you might have. So, give up your inhibitions and buy an insurance policy from an online insurance broker today. You would be happy of your decision.