Car Insurance Renewal

• Choose ‘Renew the insurance policy’. 
• Next, enter all your details in the required section. You can also include or exclude add on coverages. 
• Complete the process by making the premium payment. 
• The renewed insurance policy will be sent to you at your registered email address.

Coverage Details in Car Insurance Renewal

The following things are covered in a car insurance plan: 

• Damages caused to the insured car due to manmade hazards such as strikes, riots, and terrorist acts. 
• Losses faced by the insured vehicle and its owners due to burglary, housebreaking, or theft. 

• Any third party damage caused to the insured vehicle such as disability and property damages and third party death will be covered. 
• Damages caused to the insured vehicle due natural calamities such as hurricanes, earthquakes, or cyclones. 
• Damages occurred to the insured vehicle while it was in transit through roadways, railways, waterways.

What is Not Covered in Car Insurance Renewal

The following things are not covered in a car insurance plan: 

• The expense of replacing or repairing auto parts that deteriorate over time from frequent use is not covered by the policy 

• Any manufacturing problem in a car component will not be covered by our Comprehensive Car Insurance Policy 

• When driving, it is crucial to have the required paperwork. Car damage is not covered by the policy if there is no such documentation (current driver's license, vehicle registration certificate, etc.) 

• Car insurance does not cover any damage to the vehicle when it is being driven outside of India's borders 

• Illegal driving includes driving while drunk, participating in a crime, and racing your vehicle. Car damage sustained in such situations is not covered by any car insurance plan. 

What to do if Your Car Insurance Policy Has Expired?

Given below are the things that you should do if your car insurance policy has expired: 

• Contact Your Insurance Agent: If your car insurance policy has expired, you should contact your insurance agent as he has detailed knowledge about what to do after the expiry of the car insurance plan. The insurance will guide you about the policy renewal. Apart from this, you can also renew your car insurance policy online by visiting the official website of the insurance provider. However, you need to pay a higher insurance premium after the expiry of the policy.  

• Avoid Driving Your Car: If the car policy has expired, it is recommended to avoid driving the insured vehicle because it is risky to drive without any sort of insurance coverage. In case of any unfortunate accident, you need to pay for your damages and the losses caused to the third party in your own pocket.  

• Keep the Documents Safely: After you have decided to select the specific insurance policy, get in touch with the insurance company and gather all the details, including the information regarding the documents required. Also, it is recommended to keep a copy of your previous car insurance policy as well as the registration certificate with you as both of these documents are needed at the time of policy renewal. In addition, you also need other details like the location where your vehicle is registered, model, age, registration date, brand name.  

• Select the Policy: If you want to change to the other insurance plan or switch to another insurer, it is important to check different insurance plans and compare before finalizing your desired option.

Process of Car Insurance Renewal After Expiry:

Given below are the steps to renew your expired car insurance plan: 

• First, select and purchase a car insurance policy based on certain factors such as car model, age, brand name, and other details. 
• You can do a self-inspection  or ask the insurance company to do third party inspection of your vehicle. 
• In case of self inspection, the insurance company will provide you the instructions on how to inspect your vehicle on your own. 
• If you have opted for third party inspection, the agent will personally inspect your vehicle. 

• Once the inspection is done, the insurance company will issue the insurance policy in your name. 

Car Insurance Renewal After an Accident: 

If you do not renew your car insurance plan before its expiry date, you will not get the insurance coverage. In case your vehicle meets with an accident after the expiry of your insurance policy, the insurance company will not approve your claim request. In such situation, you have to pay for the damage caused to your vehicle from your pocket.  

Impact of Claims on Car Insurance Renewal Premium

Accidents do impact your insurance premium if you raise a claim. Car insurance companies offer financial coverage against natural or manmade risks in exchange of a premium. 

If the risk is more, the premium amount will be higher. If you make an accident claim, the insurance company will consider you as a risky customer which is why they will charge a higher premium amount. If you have already raised claims multiple times, it will impact your vehicle insurance coverage.   

How NCB Affects Car Insurance Renewal

The impact of NCB when renewing the car insurance policy is given below: 

• No Claim Bonus (NCB) in car insurance is a compensation granted to policyholders who do not file any claims during the policy year. It is offered as a renewal premium discount 

• The NCB begins at 20% after the first year of no claims and subsequently grows to 50% after five consecutive years of no claims 

• Because NCB is associated with the policyholder rather than the vehicle, it can be moved to a different vehicle when you buy one, or even to a different insurance company if you change insurers 

• However, if the policy is not renewed on time, No Claim Bonus would be revoked. If your auto insurance is renewed within 90 days of the expiration date, you can still keep the accrued NCB even if you miss the renewal deadline.