Car insurance is mandatory by law for every car owner in India. If you don't buy it or renew on time your existing car insurance cover you will be penalized by road traffic authorities. Beyond this, it’s the financial losses that you will have to bear on your own, due to any accident, third party property damage, health injury or their loss of life, etc. It can make a huge hole in your pockets. Hence, getting your car insured becomes all the more important. The validity of your car insurance policy is up to a certain period only. It depends on the date on which the policy was purchased. After this period gets over, you will have to do car insurance renewal. The renewal has to be done before the policy expires or at least by the end of the validity.
While renewing your car policies you should always look try to negotiate upon for the best deals and offers by the insurer. Insurance companies value their existing customers and give a lot of exciting deals and discounts to retain them. So, it’s important you compare existing policy with other policies, check the required benefits and retain them for your car insurance renewal.
It is important you should renew your policy at least 30 days prior so that it ensures you don’t stay uncovered at any point of time. You can renew your car insurance policy online as well as offline, regardless of your initial mode of purchase.
Few tips for Car insurance renewal:
•If your current insurer has taken your loyalty for granted, it’s time for a change. You should consider switching your insurance company based on reviews and the benefits offered.
•While renewing you should opt to re-evaluate the Insured Declared Value considering your car’s age to get suitably compensated during total loss or theft.
•A cautious driving, no accidental issues, year after year will help you earn for a No Claim Bonus. This bonus will help you reduced your premium by as much as 50%. Don’t forget to apply it at the time of renewal.
•Always do your homework before renewing your car policy. With a little bit of research, you can compare benefits offered
•Add-on can help you during claims. A car less than 5-year-old you can opt for zero depreciation or engine protector or return to invoice.
Comparing of car coverage at the time of car insurance renewal saves a substantial amount of money with better coverage options and improving your relationship with the insurer. Since, comparing manual is a daunting task you can do it with comparison sites anytime and anywhere at the place of your conveniences such as your house or offices. Comparison saves up to 40 to 45% on car cover along with add-on like riders and benefits on your plan. So, make an informed purchase. Compare online and know your car insurance plan properly before buying.
There are various types of changes each year in policy terms and conditions. Go through it in detail and understand how your policy covers you in different scenarios. If you’re renewing your car policy online, always remember to check the details on the website of the insurance company as well. Who doesn’t want to save a penny? Try saving it on your car insurance renewal as well. Online sites have come to your rescue. You can now save hundreds of bucks using comparison sites, wherein you can compare policies in terms of products & features, discounts, payment, and hassle free claim procedure. Compare various plans and buy hassle-free car cover now.
- sanjay's blog
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