What is the Procedure to be followed for Car Insurance Renewal?

The age of technology and the internet has made everything easy and quick. If you want to shop for clothes or pay your bills, it can be done online. You can search for information online before opting for any insurance plan or look for the steps of ‘how to renew car insurance’ online. You can also complete your car insurance renewal procedure online, in the comfort of your home anytime. You can calculate a probable insurance price online; you can compare the plans online, and even buy the whole car insurance plan online.

Procedure for online car insurance renewal

Guide to car insurance renewal plan

Studying the offer in detail

Understand and compare all the features and benefits of an offer. Evaluate if the insurance providers are providing the benefits and features that you are seeking. Ask yourself if you need all of the features available in your car insurance plan? Read all the conditions and clauses before signing up for anything. Also, make sure to check whether you are paying for anything unnecessarily that you do not want to pay for. If there are any unnecessary things, then drop them. This can save you a huge sum of money.

Renew before the due date

You will always get a reminder for renewal from your insurance provider. This reminder will be sent to you via text messages, or calls. This reminder is a very big help as people normally tend to forget renewal dates. It is always better to renew the car insurance before the expiry date. This is because, if the expiry date is crossed, then many a time you may have to pay a penalty fee and you might lose your No Claim Bonus. Also, you will need to go through a long documentation process. It is advisable to renew your car insurance 45 days prior to the expiry although you can renew it 60 days before the expiry date. Also if an inflation or price hike takes place during the expiry of your insurance, it would not affect you. Your price is locked, and you do not have to pay anything other than the car insurance renewal fee.

Check the no claim bonus

It is very important to check the no claim bonus before signing up for anything. If you as a policyholder have not made any claim during the previous year, then you are paid the no-claim bonus. So keep a check as to whether you can avail this benefit or not. If you can avail the non-claim bonus, then it will reduce your premium cost by providing a discount for the current year.

Proofread for saving money.

The car insurance policy that you intend to purchase is worded with conditions, rules, and clauses. These wordings can be complicated and not so easy to read. But make sure to make time to read these policy documents again and again or take help of the Customer Service Advisor of the Insurance Company.

What are the essential documents required for renewal?

There are various documents that you’ll require to renew your car insurance on time and enjoy the added benefits of it. The first and the foremost document you’ll require is a duly filled renew application form which you can download online from the state’s RTA portal. Next, you’ll need to produce your medical certificate to the insurance company. You’ll also need to submit a document which enlists the proof of your age. It can be your voter ID or any other valid ID. Address proof and a passport size photograph are also a must to enjoy the benefits of insurance renewal. Apart from these basic documents the company can also ask you to submit a few other documents as per the insurance renewal criteria that you’re opting for. Keep these documents ready beforehand to get your insurance renewal request processed on time.

You can purchase any type of plans for your insurance online. In the same way, without a broker’s help, you can renew your car insurance. You do not have to do the paperwork or issue checks like earlier. With the benefit of online services, you can log on to the insurer’s website and go to ‘policy renewal’. You will see two fields there – ‘new customer’ and ‘existing customer.’ Select the one which is applicable to you. You can make a payment for car insurance renewal online, in the comfort of your home. After the payment, your account will be debited. Once your payment is complete, and your insurance is verified, your insurer will send you an acknowledgement of the insurance. This is where your procedure ends.

Therefore car insurance renewal is very easy with the benefit of online services. You do not need to go through a long procedure of documentation or any other hassles.