Over the past several years, the opportunity to purchase insurance policies and make changes to current insurance coverage online has increased dramatically, and consumers today seem much more willing to head online to investigate insurance options. For individuals who have not yet purchased a policy online, it’s valuable to understand the benefits and drawbacks of each method of purchase.
With the decades-long expansion of internet access across the world, insurance companies have been expanding their online policy options. Today’s consumers have an important choice to make when deciding whether to turn on the computer to purchase a policy, or whether to get in the car and drive to an agent’s office for insurance information.
Interestingly, different types of insurance have seen varied rates of growth over the past decade, but most insurance companies accept that the demand for online insurance policy shopping will continue to grow especially with the growth of internet access from mobile smart phones.
Advantages of Internet Insurance
1. No sales pressure
A computer screen offers the comfortable anonymity and protection that in-person communication does not, and anyone who wants to consider their options at a leisurely pace will appreciate shopping online for their insurance.
2. Quick sign-up any time
Although brick & mortar insurance companies offer 24-hour claims departments, physical locations do not. This means that someone who has a strange schedule or who wants to shop for insurance at 2 in the morning is best served by shopping on the internet.
1. Confusing for new applicants
An insurance company will define each element of a policy online, but there are often many terms used in the sign-up process that would confuse someone who had never gotten a policy before. Independent insurance shopping online is best handled by people who are familiar with common insurance terms.
2. Bundling and discounts are difficult
Many insurance carriers offer bundling opportunities and will be able to suggest various discounts associated with certain policy choices, and these discounts might not be immediately apparent during an online insurance policy purchase.
Advantages of Brick & Mortar Insurance
1. All options considered
When a person walks into an insurance agent’s office, that insurance professional will know absolutely every facet of an insurance policy and will know exactly what type of coverage is needed, along with secret discounts and rate reduction opportunities.
2. Personal interaction with agent
Buying items on the internet does offer a nice dose of anonymity, but human interaction isn’t always something that a shopper wants to avoid. Insurance agents are usually members of the local community and provide a valuable personal connection in town.
Disadvantages of Brick & Mortar Insurance
1. Sales pressure
Not everyone may be able to resist the sales pitch of an insurance agent, and it’s possible to end up purchasing a policy that is a little higher than a person would prefer due to buckling under the weight of a strong sales pitch.
2. Requires travel
If an individual lives in a remote area or has a long distance to travel to the insurance agency’s location, the time spent getting there could represent a hassle. The internet, on the other hand, requires no travel time at all, and all someone has to do is turn on their computer. Also refer to internetserviceprovider.net if you need internet access.
Each method of purchasing insurance carries benefits and disadvantages, but the great thing about making a decision about a particular type of insurance purchase is that it’s always possible to change strategies during a policy renewal. If an online insurance purchase doesn’t go as expected, speaking with an agent during policy renewal or changes is easy since all insurance companies provide multiple communication options.