Things To Do When Your Car Insurance Expires

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A car insurance plan is one of the crucial documents after a valid driver’s license. Hence, it would be best if you renewed it on time. But in case you fail to renew the policy before it expires, the insurance provider offers a grace period within which you have to renew the plan. Failing to do so can involve a lot of risks and penalties as your policy lapses.

After your car insurance expires, you have to know that your vehicle is vulnerable to road mishaps. In case anything happens during the uninsured period, you cannot seek compensation for the damage incurred. 

Hence, here are five things that you need to do when your car insurance expires –

 

  • Get in touch with your insurer

 

Even after the policy expires, you can get in touch with your insurer and get it handled. In fact, contacting your insurer is in your best interest as they will help you in these scenarios. They would help you renew your car insurance plan and save you a fortune that would have gone in paying penalties otherwise.

 

  • Do not drive around in an uninsured vehicle

 

Driving an uninsured car is putting it up for the spot. Road accidents can happen anytime, anywhere. You may or may not be at fault, but any damage to your vehicle in such events can cost you a fortune.

In fact, many insurance providers offer the facility of car insurance renewal online. With this, you can renew your plan from the comforts of your home or on the go. The renewed policy will be sent to your email id in no time. 

 

  • Buy a new car insurance plan

 

If your existing insurance provider terminates your plan based on the non-payment of the premiums, you can no longer renew the car insurance plan. In such a situation, you will have to buy new car insurance. Look for coverage that best suits your car insurance-related needs and is available for affordable rates.

 

  • Buy car insurance online 

 

Many people are reluctant to buy car insurance online. The online facility is made available to people for their own comfort. Buying/renewing car insurance online is easy, quick, and safe. Also, it saves you time as you can pay the premiums online through online payment options. The entire process is hassle-free and offered by all insurers in India.

 

  • Renew policy on time

 

In the future, make it a point to renew your car insurance plan on time before it lapses. This will help you avoid any penalty charges during the late renewal. Moreover, the chances are that you might lose the No Claim Bonus (NCB).

If you are not happy with the coverage under your existing plan, you can switch your current insurer with us at Finserv MARKETS. With Bajaj Allianz car insurance renewal, you can transfer up to 50% of the existing NCB to your new plan. This is just one of the many benefits offered under Bajaj car insurance available on Finserv MARKETS. 

 

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