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  • Renew Your Expired Car Insurance with These Steps

    Published on November 6, 2019

    As per The Motor Vehicles Act, 1988, car insurance is mandatory in India. Thus, it is illegal to drive around without a valid insurance policy. There could be instances where the policy has lapsed, as it was not renewed before its expiration date. Car insurance policy protects your car against thefts, fire, accidents, weather and natural calamities. It acts as a shield against any unforeseen mishap.

    Driving a car without valid insurance could lead to financial losses if any damage is caused to your car and you will be liable to pay heavy penalties. Thus, you should ensure that your car insurance is up to date, and the policy is not expired.

    Following are the recommended steps on the event of expiry of your car insurance.

    Do Not Drive the Uninsured Car

    No matter how safe you drive, no one can predict the unforeseen accidents that can happen at any time. The risk of getting damaged, hit or stolen is bearable to the owner if he/ she drives the car without valid insurance. Thus, an individual should never drive an uninsured car until its insurance has been renewed.

    Check for Online Renewals

    Checking car insurance renewal policies is easy and saves time. Along with the lower premium, you get quick and efficient online assistance during car insurance renewal saving time and effort.

    Contact your Insurance Provider

    If you plan to renew your car insurance from the same insurance provider then make sure to contact them immediately to renew your policy. If you renew the policy later then, you might not be able to avail benefits of the No Claim Bonus. Make sure to read the terms and conditions of the policy whether the company is providing you any grace period for insurance renewal of an expired policy.

    Keep the Documents Ready

    Once the policy is decided, contact the insurance company to find out the needed documentation. Always keep the previous year’s policy ready along with a copy of the Registration Certificate. In addition, you should keep the vehicle details handy. It includes the city your car is registered in, the first registration date, RTO office address, car company’s name and model number.

    Re-Examine Online Details

    Re-checking the details filled in the online form is a must thing to do if you are renewing your car insurance online on the insurer’s website. Provide accurate information while applying for renewal. Providing wrong information may delay the process for a long duration, leaving the car owner vulnerable in the meanwhile.

    Avail the Benefits of Renewal or Purchase in case of Expiration of a Policy

    Other than problems, one can enjoy the benefits that are apparent during the renewal of a new policy. No Claim Bonus is one of the main benefits that one can gain during car insurance renewal, which will be accumulated through the previous year’s policy. One can miss availing the benefits of No Claim bonus if he/ she fails to renew the insurance policy within the grace period. An individual making any car insurance claim in the policy year will no longer be able to avail the benefits of NCB. It is always recommended to renew the car insurance policy rapidly to safeguard yourself from financial losses, accidents, etc.