Car Insurance Renewal: Don’t delay renewing car insurance. It should always be renewed before the due date and try not to lapse the policy. As the policy lapses and the car is damaged (or the car is stolen) then the person has to suffer financial loss.
Insurance companies usually give a grace period of 15 to 30 days from the due date. During this time any person can pay the premium and get the policy renewed. Or if you haven’t renewed the insurance during the grace period, you will need to buy a new car insurance policy.
How to renew your car insurance online
- Log on to your insurer’s website.
- Select the option to renew the existing policy.
- Fill the online form by entering your existing policy number and email ID.
- The new policy premium quotation will appear.
- If you agree with the quotation, proceed to upgrade. Otherwise, switch to another insurance agency and look for better options.
- On acceptance of the quotation, the premium can be paid immediately.
- Payment can be made through Debit Card, Credit Card, Net Banking or any other online wallet.
- You will receive an acknowledgment of payment via email.
- You will receive the renewed policy documents on your email id.
Things to Remember During Renovation
Compare Options
Compare all the options available online at the time of renewal. Check if other insurance companies have better offers. Compare policy features, premiums, Insured Declarers Value (IDV) etc.
plan type
Buying third party motor insurance is mandatory. It covers loss of life and property caused by your car to another person. If you have a third-party insurance plan, consider a comprehensive plan. It covers both own damages and third party damages. The same plan offers double benefits.
add-on feature
While renewing a car insurance plan, review the add-on cover. The policyholder should make all the necessary adjustments and prepare his plan accordingly. This will help you to enhance the existing add-on cover as per your requirement.
cover terms
Sometimes, insurance companies change the terms and conditions or features. If you’re not satisfied with these new changes, you can choose a different plan.
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