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Should you buy car insurance online in 2020?

The popularity of online shopping in South Africa continues to expand. Consumers’ online shopping expenditure may double by the end of 2020 compared to 2016 to approximately R20 billion, according to Worldwide Worx.[1]

South Africans do more things online now in 2020, which has been accelerated as a result of the COVID-19 pandemic and the resultant lockdown.

More South Africans have had to head online to connect with people, for entertainment and make online purchases.

Online shopping is highly convenient with no need to find and then pay to park, no need to spend time browsing store aisles, no payment queues, and now to avoid crowds of people with COVID-19 in mind.

Online shopping also lets you quickly compare prices and helps you find potentially the best deal with ease.

Disclaimer

This article should not be considered as financial advice. Please seek advice from a certified financial adviser before you buy car insurance.

Most reputable car insurance companies offer consumers the option to buy their car insurance products via their websites. These insurers have also made the process of purchasing car insurance online as easy as possible.

Online shopping will become even easier to perform for South Africans going forward. You can already shop online using your voice via a Google Home device[2] or with the press of a button on your fridge to buy milk, which is both a reality in some countries.2,3

Is it safe to shop for car insurance online? The process of buying car insurance online from a reputable insurer is as secure as purchasing goods from any reliable online store. If in doubt, contact your bank’s fraud department. Consumers should always be prudent, whether they use an ATM in a shopping mall or when they shop online.

It is no surprise that online shopping’s popularity should only grow. The demand to buy car insurance online should increase as well.

So, should you buy car insurance online? That’s up to you, but we recommend that you run your decision by your financial advisor first.

Sources:

  1. http://www.worldwideworx.com/onlineretail2019/
  2. https://support.google.com/googlenest/answer/7130274?hl=en
  3. https://www.theverge.com/2016/1/5/10708380/samsung-family-hub-fridge-mastercard-app-groceries-ces-2016

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Should you buy car insurance online in 2020?