Motor Insurance Renewals
Highlights of Motor Insurance Renewal
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Motor Insurance Renewal – Everything You Need to Know
Benefits of Timely Renewal of a Motor Insurance Policy
The most important benefit of renewing your motor insurance is the peace of mind it brings you. Some other benefits include:
Timely renewal ensures continuous coverage that safeguards your finances in case of accidents or unexpected events.
Avoiding policy rejections due to coverage lapses and maintain your no-claim bonus, resulting in lower premiums.
Timely renewal preserves your No Claim Bonus, leading to premium discounts over time.
Things to Consider While Renewing Motor Insurance Policy
Check if your current coverage fits your needs, or adjust it if your driving habits or vehicle usage has changed.
Compare different insurers for the best coverage and price, considering limits, deductibles, and add-ons.
Know what your policy covers and doesn't cover to avoid surprises when filing claims.
Evaluate if add-ons like roadside assistance, zero depreciation, or engine protection are required.
Understand the policy terms in detail to avoid future misunderstandings.
Confirm automatic renewal options to avoid coverage lapses.
Review the renewal notice for updated terms and rates.
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Motor insurance renewal is the process of renewing or continuing the current car insurance policy coverage beyond its expiration date. When you make the renewal payment at the end of your existing car insurance policy and continue with the coverage offered under your insurance plan, it is referred to as renewing your insurance policy.
It is good to renew your insurance policy 15 to 30 days before expiry date. However, you can renew your policy as early as 60 days before expiry.
Depending on the insurance company, the documents required for motor insurance policy renewal may include:
- ID proof like Aadhaar card/PAN card/Passport
- Address proof of the policyholder (Passport/Driving License/ Bank Passbook)
- A recent photograph
- A copy of a driving license
- Vehicle registration number
- A copy of the vehicle registration certificate (RC)
Yes, anyone can renew their vehicle insurance online by visiting the official website of the insurance provider.
Online motor insurance renewal is very easy and you can do so by visiting the official portal of the insurer. Go to the ‘Renew Online’ tab in the homepage and submit your insurance policy number and the vehicle registration number. Continue the steps as required and make the renewal payment to get your motor insurance renewed online. You will get a copy of the premium payment in your registered email ID.
