What You Must Know About Car Insurance Renewal
Scroll And Download
What You Must Know About Car Insurance Renewal
Published On AUG 11, 2021 12:00 PM By Rkkiller Gaming Zone
Remembering to renew your car insurance on time is important. Read this article to find out why.
Having car insurance is crucial, especially because third party insurance is obligatory. Moreover, in case of a mishap, the own-damage cover is extremely handy. With car insurance, both you and the car have a layer of protection in case of a mishap. However, it is important to remember to renew your car insurance or it will lapse. These policies are usually due for renewal on an annual basis. But how is it done? What should you know before renewal? Read this article to find out.
Why is it Important To Renew Car Insurance on Time?
The following are the reasons why it is best to renew your car insurance on time:
1. Lapsed Policy: A policy that is not renewed after the expiry and grace period is no longer valid. In these cases, you will be required to purchase a new policy and go through the entire process once again including getting your car inspected.
2. Fine: A lapsed or expired policy is the same as not having an insurance policy in the first place. Thus if you are driving with an expired third-party car insurance policy you can be fined. The first time offence fine is Rs. 2000 and the second is Rs. 4000 and/or imprisonment for up to 3 months.
3. High Risk: In case a mishap occurs an expired policy will not be eligible for any form of claim settlement leaving you to fend for yourself in a moment of crisis.
4. Loss of NCB: No Claim Bonus (NCB) is a reward paid to the policyholder by the car insurance company for a claim-free year. If you do not renew your policy in time you risk losing out on this benefit.
What are the Documents Required for the Renewal of an Existing Policy?
With car insurance available online renewing an existing policy is easier than ever before. All you will require is the policy number of the existing policy, its expiry date, your personal details and car’s details.
What is the Process of Renewing an Existing Car Insurance?
These are the steps you need to follow for renewing an existing car insurance policy:
Step 1: Visit the website InsuranceDekho.
Step 2: Select car insurance and next select renewal in the drop-down menu.
Step 3: Provide the required details such as the car number, policy number, expiry date etc.
Step 4: Provide the required personal details and click on ‘Submit and Get Quotes’. All the available plans from different insurers and the add-on covers will be available to you.
Step 5: Once you have made your choice, make the payment for your chosen insurance policy and the policy document will be sent to your email id.
Also Read:- Simple Steps to Make a Car Theft Claim
Click ad and wait 25 second 👇👇👇👇👇👇
Your download will begin in 30 seconds.
Conclusion
In a nutshell, making sure to renew your policy on time is crucial. Moreover, there are a number of benefits from doing so, such as the NCB. Renewal is also a good time to check and compare car insurance companies, the quotes they offer and their network of cashless garages. You can also opt for new or different add-on covers to suit your needs.
Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.
Post a Comment