Wednesday, May 22, 2024

Insurance

Why Shouldn’t You Overlook Car Insurance Renewal?

Car Insurance Renewal

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As is common knowledge, car insurance must be renewed yearly when you buy new car insurance online. One of the most crucial policies, it protects your vehicle from accidental damage and third-party liability for passing away, injury, and property damage. It is necessary to renew your insurance before the deadline, as you must do so to avoid many other problems in addition to your insurance’s expiration.

First, suppose the policy is renewed after 90 days of expiration. In that case, you will have to purchase new insurance, which will not only be expensive but also forfeit all the benefits of your prior accounting year, such as a no-claim bonus. *

The good news is that you can renew your policy at the last minute from your office desk by choosing the online option if you cannot do so in time. 

If your insurance policy expires, what happens?

The following are some repercussions of failing to renew your auto insurance on time: 

The policy will lapse if you don’t renew it before the expiration date

You can only legally drive in India if you have car insurance. Due to your failure to renew your auto insurance, you might have to pay a fine to the traffic police. Because you lose any previously accrued No Claim Bonus, the renewal premium is higher than the expired policy. Thankfully you can do this online now through a car insurance mobile app.*

Before getting a new policy, you must have your car inspected again. Suppose you have an accident without a valid insurance policy. In that case, you will be responsible for paying for everything alone. 

Car insurance policy – process for renewal

Your car insurance can now be renewed online. Many of us don’t have the time to visit the physical location and renew our car insurance policies in today’s fast-paced society. In addition to saving time, renewing a policy online is convenient, hassle-free, and results in much lower premiums. Log in to your insurance company’s website, complete the necessary information, and pay the renewal fees to renew the policy.

On the websites of the most reputable insurance providers, you can even use the car insurance premium calculator to calculate your premium online. You can find this calculator on an app for car insurance. 

What to do if your car insurance expires?

Suppose your policy’s renewal deadline has passed. In that case, you should contact your insurance company immediately to see what options are available. In this situation, some insurers might not permit an online renewal of your car insurance policy and may require you to visit their physical office with the necessary documentation.

Because of this, the policyholder must take prompt action as soon as they learn that the policy has yet to be renewed by the deadline.

Renew your car insurance policy well in advance to be safe. To ensure you can renew your insurance anytime and anywhere from your smartphone, you can get a good app for car insurance.

Get insured anytime, anywhere! Check out Bajaj Allianz General Insurance website to learn more and download the app now.

* Standard T&C Apply

Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.

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