Coverfox Review| North Loop Official Blog
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29 Sep 2020

Coverfox Review

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About Coverfox –

Coverfox is an online aggregator that provides insurance products of various insurance companies on its platform. It is not an insurance company but an online platform that can help you compare the various policies offered by different insurers and allow you to buy them from its online platform. It is IRDAI authorized and was founded in 2013 to simplify the process of choosing amongst a variety of insurance policy options.

What does Coverfox offer?

It offers an opportunity to compare the features and prices of an insurance policy and choose a policy that suits your needs and buy it on its platform using your credit/debit card or through net banking facilities.

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Advantages of Buying Health Insurance Online –

Time-saving – Buying a health insurance plan online saves time and effort spent on meeting an agent and understanding complex terms and conditions about a policy. Online platforms offer all the information regarding different types of policies on their website/app, and you can access all of it with just a few clicks and choose the one that aligns with your needs.

Availability of information – It often happens that agents forget to tell you some vital facts about policies that can impact your decision to buy it. That is why online platforms prove to be advantageous as all the information regarding the various plans is readily available on their portals, making it easier to access all the necessary details in one place and make informed decisions accordingly. If you are looking to buy health insurance online, North Loop is amongst the best platforms to do so. It offers a user-focussed app as well as professional help to choose from the different policies available on its platform, and you can buy the one that is right for you with just a few clicks. The availability of 24*7 customer support is a bonus which is not offered by most other online insurance platforms.

Comparison of plans – The biggest hurdle in buying health insurance is the confusion that comes with its variety of policies and a myriad of different terms and conditions. That is the reason platforms that offer a one-stop solution to this problem can be extremely beneficial in helping you choose and buy an insurance policy online. While Coverfox does provide this on its website, an insurance service provider such as North Loop incorporating newer age technologies provides a much more seamless experience on its platform. That is because it has gotten created keeping the ease of online policy purchasing in mind.

Eligibility criteria –

Policyholder – The minimum age varies between 18 years and 21 years based on the insurance company. The maximum age varies between 60 to 100 years along with the flexibility of lifetime renewals.

Dependents – Your spouse, children and parents get referred to as dependents. The minimum allowable age for children starts from 90 days and goes up to 18 or 25 years based on the insurer and its policies.

Renewability – While health insurance policies can mostly get renewed for a lifetime, some insurance companies request for specific medical tests to be done and charge higher premiums after you cross a certain age.

Premium Calculator – Coverfox offers various insurance premium calculators on its website. Online premium calculators make the calculation process quite convenient and also help to plan the insurance budget accordingly. You can even use North Loop’s online health insurance premium calculator by clicking here.

How to renew health insurance online with Coverfox –

Visit the Coverfox website and click on ‘online renewal’.
Provide details such as policy number, KYC, expiry date, etc.
Make the payment via debit/credit card or net banking.
Check the status of your policy by logging in with your registered username and password.

Conclusion –

Coverfox offers a variety of insurance policies ranging from health insurance, car insurance, two-wheeler insurance, term insurance, to life insurance (read our life insurance and two-wheeler insurance reviews). Since it is an insurance aggregator, you can find a large number of policy options available on its website.

However, the reviews given by customers who have used the services of Coverfox to buy insurance policies are terrible. Most people have complained that their policy documents never get emailed to them after the payment is complete and that the customer support system is also unresponsive and non-cooperative.

Some have even said that the car insurance policies offered by it are overly expensive as compared to those provided by other platforms. Many others have also alleged that the claims made by them never get approved, in spite of being valid ones.

Overall, the customer response and feedback of Coverfox is not promising at all, and if you want to buy insurance policies online, you can go for North Loop. It offers a completely transparent, simple, hassle-free and paperless process with a good customer support system, quick claim approvals, availability of low-premium insurances and no customer harassment unlike that experienced with other aggregators or platforms.

To sign up with North Loop, click here.

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This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended be advice. You must obtain professional advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax, investment or other professional advice from North Loop or its affiliates. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date. All opinions expressed do not reflect the views of North Loop nor are endorsed by North Loop.