In today’s day and age, the convenience of having a car is undeniable, but it is also important to take care of the vehicle, which makes insurance policy imperative. Besides having expired car insurance or not having car insurance is a punishable offence under the Motor Vehicle Act. Let’s delve into the quick process of renewing a car insurance policy.
Unlike before, when renewing a car insurance policy required making several phone calls and visiting the office of the insurance agent multiple times, car insurance renewal process is incredibly easy nowadays. With basic documents and a few simple steps to follow, one can get the existing car insurance renewed online.
Details required for renewing car insurance policy
To start with the renewal process and keep the process easy going a few details need to be handy.
· Full name of the applicant
· Complete address
· Make and model details of the car
· Registration number of the car
· Policy number of previous insurance
· Add-ons to choose
· Details of the payment
Step-by-Step car insurance renewal
Here are the steps that you need to follow for the process of car insurance renewal:
1. Compare car insurance policy and get a quote
Ideally, the first step would be shortlisting a few insurance companies and comparing with the services provided by the company. To choose the best policy, one would need to compare the pre-sale and post-sale services offered by these companies. Other than the services, the company should also provide enough coverage at fair prices.
Individuals willing to continue with the same insurer can get a quote with the help of the car insurance calculator. The calculator helps to decide the amount that the car will be covered and the premium amount that one would have to pay.
2. Select the type of insurance
After finalizing on the insurance company, one would need to log in to the respective website and decide over the type of car insurance policy.
There are two types of car insurance policy:
· Comprehensive car insurance policy
· Third-party car insurance policy
Third-party car insurance policy is a mandate issued by the Law that covers liabilities for third party vehicle. In contrast, the comprehensive car insurance policy covers both third-party liability and own car damage.
3. Fill in the required details
After selecting your insurance type, you will have to fill an online form with the details that you had already kept handy.
4. Select Add-ons for your insurance
If you have opted for Comprehensive car insurance policy, you can select different add-on options to extend the coverage of our insurance policy.
Few of the add-on covers are:
· Zero depreciation – Here, the insurer doesn’t consider the depreciated value of the car during the claim process.
· Roadside assistance- In case your vehicle breaks down in the middle of the road, you can get facilities like minor repairs, Battery jump-start, Fuel or towing with this add-on.
· Return to Invoice- Here, the insurer can claim for the ex-showroom price of the car in case of complete loss of your vehicle due to theft or any natural calamity.
· Engine protection – Here, one can claim the cost of repairing or replacing the damaged engine.
· NCB protect- You can maintain your No-claim bonus post making two claims in a year.
5. Select payment
After you have selected your choicest add-on cover, you have to proceed to the payment section. Follow the process to complete the payment. As soon as your insurer gets the payment, you will receive a renewed policy in your mail.
The car insurance policy document is a legal document which is mandatory every time you travel. You may have to show the policy to the authorities on demand. To be safe, you can make multiple copies of the renewed policy if you lose any.
