Where to Get Travel Insurance: Online vs Offline

Where to buy travel insurance

From shopping for groceries online to conversing with loved ones over WhatsApp, digital tools and services have been an increasingly essential part of our daily life since the advent of technology. With just a simple click, most of our chores can be handled easily and quickly. However, when it comes to more serious matters, such as applying for travel insurance, you may wonder if buying your policy online is a good idea. After all, any mishaps, no matter how minor they are, can already sufficiently dampen your holiday mood. You certainly will not want to deal with extra troubles simply because you were ill-informed about your insurance terms and got yourself the wrong policy. To resolve your dilemma, MoneySmart explores why getting travel insurance from an online platform is still the way to go.

(1) Getting Travel Insurance Online Gives You Autonomy

When it comes to an important purchase decision, it is natural to seek detailed explanations before we sign up for the deal. As such, shopping for travel insurance offline intuitively appears to fit well with this natural tendency we have since it affords us access to an agent who can answer all our questions. However, what is often overlooked is the vested interest these individuals have in your purchase decision, which can affect the amount of information disclosed to you. In contrast, buying your travel insurance online will give you the full autonomy to make an informed decision. Unlike the offline space, where insurance companies have your undivided attention and the exclusive opportunity to convince you, they need to compete with other providers for your attention online. To cut through the noise, policy providers are more likely to disclose comprehensive details about their offerings so you can better understand how their proposition adds value to you. Armed with more information and full transparency, getting travel insurance online better empowers you to make an informed decision.

(2) Online Platforms Help You Save on Travel Insurance

Apart from enjoying a higher level of autonomy, getting your travel insurance online can also unlock greater cost savings. To provide services offline, insurance companies need to engage intermediaries who exclusively serve their organisation. As a result, policies sold offline are more likely to charge higher fees than those sold on online platforms that host multiple insurance providers simultaneously to account for the intermediaries’ exclusive services. This cost may subsequently be passed on to consumers, resulting in more premiums paid. By shopping for your travel insurance online, these extra fees will likely be lower, allowing you to save more on your insurance.

Additionally, insurance companies may tie up with online platforms to offer exclusive discounts or travel benefits, enabling you to benefit further from your deal. Perhaps most importantly, shopping online affords you access to diverse travel insurance at one go. This facilitates easy comparisons between different insurance deals, supporting you in identifying the most cost-effective option.

(3) Buying Travel Insurance Online Elevates Your Experience

We have all had the experience of purchasing something simply because of pressure from a salesperson or falling for the salesperson’s charming words. However, you will not be subjected to these when shopping for your travel insurance online, allowing you to have a less stressful experience and make more rational purchase decisions. As with everything digital, getting travel insurance online will also take considerably less time and hassle than its offline counterpart. With tools such as autofill, application forms can be completed in no time, helping you to save more time for other tasks. When filling out repeated fields, the same information can also be duplicated and regurgitated swiftly without hassle. This enables you to avoid the laborious chore of filling them out manually like you do when applying for insurance offline, making it exceptionally liberating. As a cherry on the cake, online platforms operate round-the-clock, enabling you to apply for travel insurance anytime you wish, enhancing your overall experience by unlocking unrivalled convenience.

Be Empowered When Buying Travel Insurance Online

Considering the sensitive nature of the information you need to provide during insurance application, the importance of choosing a reputable online travel insurance platform can never be understated. By purchasing your policy from a trusted platform, you can always be assured that your transactions are safe and all deals offered are provided by authorised insurance companies. As a leading financial platform with strong ties with major financial providers, MoneySmart offers a reliable platform to meet your insurance needs for travel and more. With a wide network of partners, you can easily access an extensive range of travel insurance on MoneySmart, enabling you to quickly compare different offerings and find one that meets all your requirements. Buy your travel insurance on MoneySmart today to leverage our rich industry connections and get the best deals.

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