Home ยป Renewing Your Car Insurance Is Important. Here Are 7 Tips To Avoid Making Mistakes

Renewing Your Car Insurance Is Important. Here Are 7 Tips To Avoid Making Mistakes

by Elaina

Nowadays, owning a car necessitates considering various factors, such as regular maintenance and insurance. The latter is a valuable feature, but you must renew it annually, and if you rush, you risk making mistakes. Check out these seven suggestions in this article to stay on top of your car insurance renewal online:

  1. Prepare Your Homework

Nowadays, numerous companies and websites provide or purport to provide car insurance. You must check and know the fundamentals to choose the one that suits your needs. Looking up the insurer’s registration number and CIN on the Insurance Regulatory and Development Authority of India (IRDAI) website is one way to confirm the legitimacy of the insurer. #

  1. “No-Claim Bonus” Advantage

Customers who have avoided filing claims during the previous term of their policy are typically given a renewal concession by insurers. The no-claim bonus benefit is a component of “Comprehensive Car” insurance, which also includes “Own Damage,” “Personal Accident Cover,” and Third-Party Liability. The bonus is incremental if not claimed for up to five consecutive years, which is another benefit of deferring claiming it during renewal. *

  1. Request A Renewal In Advance

We are all aware of how important insurance is for a vehicle if it is involved in an accident. If you do your car insurance renewal online on time or well in advance, you can be sure that you will never run the risk of being unable to file a claim should your car get into an unfortunate situation. It also means that you won’t encounter any legal challenges, whether they come from the police or a third party.

  1. Insurance Policy Comparison

Exploring different insurance providers can help you find more affordable policies, but it’s essential to research their reputations for good service and consult with fellow car owners for unbiased opinions. You can use a car insurance calculator to compare the cost of premiums.

  1. Possessing Anti-Theft Equipment In Your Car

To protect your car from theft and potentially lower your motor insurance premium, ensure it has security features like central locking and an immobiliser. Insurance companies offer better concessions for vehicles that are harder to steal, but the anti-theft equipment must be ARAI-approved to qualify for this benefit. ##

  1. Choosing The Ideal Add-Ons

Customers who buy car insurance online or renew comprehensive car insurance may choose additional coverage options. By picking the appropriate add-ons, you can broaden the insurance policy’s scope of protection. Several covers may be available, including those for theft, accidents resulting from scrapping, and water entering the engine (hydrostatic lock). *

  1. Managing Your Voluntary Excess

Voluntary Deductible is another name for voluntary excess. It depends on how much of the cost of damage you’re willing to shoulder with your insurance company. A zero deductible option is also available, but remember that it will cost you more money, and your insurance company may pay for all damage in the event of an accident. *

*Standard T&C Apply – coverage, inclusions, exclusions

#Visit the official website of IRDAI for further details.

##All savings are provided by the insurer as per the IRDAI-approved insurance plan. 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.