Not renewing your policy leads to absence of car insurance. You will have to incur a fine or even face imprisonment as per Indian law.
Renewing your insurance provides you with continuous coverage & offers protection from repair expenses for your car resulting from an accident.
Renewing helps in protection from Legal Liability arising from death or disability of a third-party due to an accident with your car. Even 3rd party property damages get covered.
If your policy is renewed & active, you can avail cashless car repair service at cashless garages listed in your insurance company’s network list.
Disclaimer - Above mentioned prices are for a 2 years old Maruti Wagon R, 1.2 VXI AMT OPT (1197 CC) registered in Mumbai & previous policy has expired.
If you only have a third-party plan, you should consider getting a comprehensive policy. A comprehensive policy covers you for the expenses of repairing your car.
You need to be compensated in case of theft or total loss of your car. Based on your car’s age, you should re-evaluate your car’s IDV against the premium payable.
You must not forget to check the incurred claims ratio of your insurer. This will provide you with an understanding on how often your claims will be approved.
Look for cashless garages near your area beforehand so you can get the repair of your insured vehicle nearby. Going through the list of cashless garages helps you find local garages.
You should find out if you have any discount on the premium amount. If your policy includes deductibles and discounts, then you have to ensure that it fits your budget.
Thoroughly understand about Add-ons. If your car is less than 5 years old, you should consider covers like Engine Protector or Zero Depreciation or Return to Invoice or Personal Accident Cover.
Renewing your car insurance online means you are doing it directly without any intermediary being involved. No agent, means no commission.
The entire process of renewing car insurance online is paperless. There is no need for physical documentation; if any document is needed, you just upload them online.
The traditional method of car insurance policy is time consuming. With the online mode, you can get a car insurance renewal premium amount at the click of a button from your home's comfort or on the go.
The online mode doesn’t let you miss the due date. The insurers send multiple reminders before the due date of policy renewal to keep you informed about the due date beforehand.
You can complete all your transactions online. You can use your debit or credit card or internet banking to complete your car renewal payments.
Suppose if you are not satisfied with the services provided by your existing insurer, you can port your current Policy to a new insurer without losing your accumulated no claim bonus.
Endorsements mean any particular changes in the information given in the policy document. In the online mode, you have to submit a self-declaration form. A letter detailing all the additional changes in your policy document will be delivered to your inbox.
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You can renew your car insurance policy online by following the below-mentioned steps:
If your car insurance has expired, here is what you have to do.
Although it is possible to renew your car insurance after the due date, sometimes you may have to pay a late fee or face higher rates because of the delay. If you do not pay on time, your coverage could be temporarily suspended or cancelled.
Many car insurance companies will auto-renew your policy at the end of its 12-month term. The company will send you a letter or an email informing you that they will renew your insurance policy.
