Renewing a car insurance plan is as important as buying a new one. This is because you need a continued motor insurance cover. If you allow your policy to lapse, you will be at the risk of remaining uncovered, even if it may be for one day. And you never know what misfortune may strike on that very day! Getting your vehicle repaired for any kind of damage, or worse having to replace it altogether, can be very expensive. You need a solid car insurance cover at all times, because trouble never comes knocking. It is extremely easy to renew car insurance. You can do it online in less than five minutes.
How renewing car insurance on time can help you
We spoke about how important it is to renew car insurance on time. But what exactly happens if you don’t do so? Here are a few unfortunate situations that may take place if you wait too long to renew your car insurance policy:
- Caught by the cops: It is illegal in India to drive your car unless it is insured. So if you happen to delay the renewal process and get caught by a traffic cop in the interim, you will get entangled in an unnecessary legal chaos. So renew your car insurance plan on time and stay on the right side of the law.
- Involved in a nasty accident: Like mentioned above, getting your vehicle repaired after a road mishap can be a rather expensive affair. This holds true especially if you drive a high-end or a new car. If you renew your car plan on time and keep the insurance cover going, you can make a claim at anytime. This will keep your finances protected and give you all the peace of mind you need to enjoy driving your car.
- Vehicle damaged/stolen: At times, your car gets damaged beyond repair incidents of fire, etc. It can also be stolen. In that case, you need the money to replace the vehicle. If you don’t renew your car insurance policy on time and such a situation occurs while the policy remains expired, you will not get any compensation from your insurer. And we all know how expensive buying a vehicle can get! So avoid being in any such situation and renew your car insurance cover on time.
How to lower your car insurance premiums
Have you been delaying the renewal due to the cost factor? Do you feel the premium is too high? If yes, then we have some handy tips for you to lower your car insurance premium at the time of a renewal. They are:
- Increase the deductible: If you are very sure of your driving skills and don’t think you will have to make a large claim, opt for a higher deductible. This will instantly reduce your car insurance premium.
- Install safety devices: A safety device that could potentially prevent the vehicle from getting robbed would help make your car insurance cheaper. This is because the insurer would attach a lower risk to your vehicle. So install a few safety gadgets and see a difference in the premium amounts.
- Apply the NCB: Make sure you inform your insurer about the no claim bonus to get a discount on the car insurance premium.
- Compare before renewing: You are not obligated to continue with the same insurance provider. When you renew car insurance, you must always compare the available options. This will help you find a cheaper plan with the same features of your existing car insurance plan.
You have no choice but to renew your car insurance policy on time. There are many benefits of doing this. You also end up saving money. So what are you waiting for? Go online and renew car insurance now while there is stillsome time in your hand.