What Is The Process Of Buying An Insurance Policy Online?

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As a business that provides services towards smart insurance using blockchain and artificial intelligence, we usually create and innovate different technologies. And with technology, you can now do most of your transactions online, especially if you will be buying an insurance cover or policy. But do note that you should be able to buy the one that is the right fit for your needs.

That is why here are some tips and the process of how to purchase an insurance or policy online. If you are planning to buy a home insurance cover, you need to check the premium and the coverage. You also need to evaluate the claim settlement ratio and inclusions such as fire, earthquake, and burglary. Exclusions are the key parameters such as loss of cash or damage due to war or electronic equipment.

Compare features, prices

If you are buying a travel insurance policy, the trip delay coverage duration could vary from 6 hours to 12 hours. In the case of deductible, the amount can differ across products even if the sum assured remains the same. Some portals may not give you the full cost of the product upfront. Hence, when you are comparing the cost, recheck the charges at check out. You can also ask the company to send you a detailed break-up of features to compare your buy.

The process

Once you have decided to buy the policy, you will have to provide details about yourself. If you have a pre-existing disease and you have been asked about it, you should mention it upfront. In case of travel insurance, give your correct passport number and travel dates. Once you have made the payment, you will get your insurance policy on your email. Keep your policy handy with you so that it is accessible whenever you need it.

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Introducing Inmediate: a platform on which customers, distributors and insurers using smart contracts connect. https://inmediate.io

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