Four-wheeler insurance renewal is relatively easy, as you don’t have to spend hours trying to fetch and take follow-ups from agents to get your 4-wheeler car insurance. Instead, you only need ten minutes!
With technological advancement, you can renew motor insurance online. Just visit the website of your insurance provider, fill in your details, and within a few clicks, you can renew your car insurance. In case you are wondering, it is equally simple to buy car insurance online.
You can also use a car insurance calculator before online car policy renewal, compare various policies and crack the best deal for yourself. With processes becoming so easy, it is now time to say no to long queues and extensive documentation and get your car insurance renewed in the comfort of your home.
Reason for Car Insurance Renewal
Let’s discuss two scenarios where one should renew car insurance –
- Car insurance renewal online before the policy has lapsed
- Car insurance renewal online after the policy has lapsed
Do Car Insurance Renewal Online Before Your Policy Has Lapsed
With quick and easy car insurance renewal online, the whole process is streamlined. It is a highly time-saving process as you don’t have to contact any agent or visit the insurance company’s office. In addition, renewing your motor insurance before expiry will keep you and your vehicle protected at all times.
Here is a list of reasons why your car insurance should be renewed before it has lapsed:
- Abided by law
As per Motor Vehicles Act 1988, it is mandatory for every individual with a car to have valid car insurance. If a person is found without car insurance, they can be fined ₹2,000 for the first offence and ₹4,000 for a subsequent offence. Also, there is a chance of imprisonment for up to three months. Therefore it is crucial that every driver at least have a third-party car insurance policy when driving.
- NCB
The car insurance company also rewards responsible drivers who have kept their cars safe for a said policy year. This reward comes in the form of NCB, a benefit on the premium paid during comprehensive car insurance renewal. If no claim is made during the year, the driver is entitled to an NCB, which can go up to even 50 per cent of the annual premium. But if the policy lapses, the policyholder loses his NCB benefits, as it is essential to renew the car insurance policy well in time.
- Claim rejection
Policy renewal is crucial if you want to make a claim. If you make a claim after the policy expiry, your claim will be rejected without further investigation.
How to Renew Car Insurance on Time?
- Step 1: Go to the website of a reliable car insurance company and click on the compare car insurance page. For example, Tata AIG provides direct comparisons between their various plans to allow you to make an informed choice. You can also use their online calculators to determine the premium.
- Step 2: Provide your vehicle’s registration number and select the get details option.
- Step 3: Once you find your Vehicle Details fill in other required details and click on view quotes; with that, you will have quotes for different plans.
- Step 4: Then select the plan of your choice based on your requirement and click on confirm.
- Step 5: You will also be asked for the owner’s details, the vehicle details and contact details. Fill in those and provide a confirmation.
- Step 6: Make payment as per available payment options and modes.
- Step 5: With that, you will be redirected to the page where you can download your renewed policy. A copy of your policy will also be sent to your registered mailbox.
Now, what if you missed the deadline and forgot to renew your car insurance in time?
How to Renew Car Insurance After it Has Lapsed?
If you missed renewing your car insurance in time, there is still a chance that you can do it without losing on all the benefits. It is because almost all insurance companies offer a grace period, a brief 30-day window to make your policy payment. Now, how do you renew your insurance within the grace period?
There are two ways through which you can renew car insurance after it has lapsed. One is a short-cut method, and the other one is a bit lengthy. Let us see both methods-
- Short-cut method to renew car insurance after it has lapsed
Call on the number provided by the insurance company on their website or mail the support email provided with all your details.
- Long-cut method to renew car insurance after it has lapsed
- Step 1: As your insurance has expired, you need to go through the car inspection process again, where your insurer’s representative shall evaluate whether or not the insurance will be provided.
- Step 2: If the request is authorised, buy the insurance policy immediately.
Conclusion
You can see how simple renewing car insurance online is, so why wait until your policy lapses? It is better to renew your car insurance in advance and enjoy the ultimate benefits of early renewal. Save yourself from the hassle and inconvenience of extensive documentation and long queues, and get your insurance renewed with a few clicks.
