Decode The Process Of Car Insurance Renewal

Purchasing a car insurance policy is a wise decision because it protects you from damage to your vehicle and a third party. In addition, the Motor Vehicles Act of 1988 and the Motor Vehicles (amendment) Act of 2019 make it mandatory to purchase one. You will be breaking the law if you drive a car without a valid third-party insurance policy.

Also, note your car insurance renewal date, just as you would any other important date. Your car insurance company will send you reminders even if you don’t. Are you wondering how to check car insurance expiry date, then keep reading to find the details.

It is always a wise idea to renew your car insurance before it expires. Otherwise, things can get complicated later. It is ideal to renew it 15-20 days before the expiration date. If your policy has expired and you have passed your 30-day grace period, you will also lose the accumulated No-Claim Bonus (NCB).

It would be unpleasant if you went four years without making a claim and then forgot to renew your policy on time. NCB in the fifth year earns you a premium reward, which is a wise deal.

Here are the two main types of car insurance policies available:

  • Liability to third parties:

This plan will cover any liability arising from injuries to a third-person party or property. According to the Supreme Court order, if you buy a new car, you must also purchase third-party insurance for three years.

  • All-inclusive policy:

This more comprehensive policy covers both your damage and third-party liability. Under this policy, the insurer also provides coverage for damage caused by floods, earthquakes, riots, strikes, and other natural disasters. You can also choose from various add-on covers to supplement your plan.

To keep your car insurance policy active, you must renew it. The simple procedure is as follows:

  • Conduct research:

If you are dissatisfied with the coverage provided by your current plan, the first step is to find a reputable car insurance provider. Read online reviews to determine which insurance company offers excellent pre- and post-sale service. You should also get a wise deal for adequate coverage.

  • Determine the policy type:

Here, you must decide whether you need third-party liability insurance or comprehensive coverage based on your usage. Then go to the website of your preferred insurer and do the same.

  • Include all necessary information:

You must now provide the information required for the KYC (know your customer) process. Ensure you provide accurate information, as any false information could land you in hot water.

  • Purchase extras:

You can supplement it with additional coverage if you’ve chosen a comprehensive plan. Choose from available add-ons such as lock and key replacement cover, engine protector, consumables expense, accident shield, and 24-hour roadside assistance, among others. Keep in mind that these extras will increase your premium. As a result, avoid getting too excited when shopping and choose wisely.

  • Make your payment:

After completing the preceding steps, you must finally pay to obtain the insurance policy. Your insurer will then receive the compensation and immediately send you a renew car insurance policy via email. You can print it and keep a copy at home and in your car. You can conveniently choose the digital option by saving the soft copy on the government approved applications.

The internet has made car insurance renewal online a relatively simple and painless process, and there’s no reason for you to put off renewing your policy any longer.

* Standard T&C Apply

Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.

What is your reaction?

In Love
Not Sure

You may also like

Comments are closed.

More in:Business