How Can You Put Your Car Insurance Policy To Good Use During Its Renewal

Owning a car is an experience in and of itself because it meets the needs of the family and allows you to travel whenever and wherever you choose. No matter how skilled a driver you are, you are not the only one on the road. Other people’s faults can potentially trap you in an accident.

With a comprehensive car insurance policy, you may drive safely without worrying about potential financial losses caused by tragic circumstances involving your car. Because car insurance policies are only good for a short time, you must renew car insurance before it expires. Thus, car insurance renewal is something that should not be overlooked at any cost. Here are some of the primary advantages of renewing your auto insurance.

1) Third-Party Protection

In the event of an accident involving other people or property, your insurance renewal will come in handy. It will cover any expenses incurred as a result of the accident and will also manage the legal concerns. This involves property or structural damage, as well as injuries that result in disability or death (third-party).

2) All-inclusive Protection

With the online renewal of your comprehensive policy from Bajaj Allianz car insurance, you may continue to protect your vehicle from natural disasters such as landslides, earthquakes, floods, and cyclones. Man-made calamities, on the other hand, such as theft, vandalism, burglary, riots, and so on, will also be covered. 

3) Change Insurer and Coverage

You can select a different insurer while renewing your auto insurance online. The majority of first-time automobile insurance policies are acquired from the car dealer. At that time, the insurer or the coverage may not have received much consideration. However, at the time of renewal, you have that option and chance.

4) Bonus for no claims (NCB)

You will be eligible for an NCB if you renew your auto insurance online without filing a claim during the policy period. It is a reduction in insurance premiums that can be obtained during policy renewal. The concessions start at 20% for the first year and increases to 50% for the fifth consecutive year of no claims. * Standard T&C Apply

5) Extras

You may be dissatisfied with your current policy coverage and require something more. You can use riders to supplement your policy coverage while renewing your policy. Depending on the insurer, you may be able to obtain add-ons such as zero-depreciation coverage, engine coverage, accessory coverage, and so on.

6) Online Car Insurance

You can choose to renew your auto insurance online, which is a lot faster and less expensive choice. Simply go to the website of a digital insurer and provide some basic information to acquire a quote. When you are satisfied with the policy and its benefits, you can purchase it within minutes. Make sure you do a car insurance check online.

7) Safety

Most importantly, renewing your coverage provides you with a sense of security. This allows you to drive with confidence rather than being preoccupied with the financial consequences of an accident.

You don’t want to forego the above perks while renewing your coverage. However, if you do not renew car insurance on time, you will face the following consequences:

1. If you do not renew your policy, you will be liable for any financial costs incurred as a result of an accident.
2. If fail to renew your policy on time, you may lose out on benefits such as the No Claim Bonus.
3. If your coverage expires, you must purchase a new policy, which can be more costly and time consuming.
4. If you have a long gap between policy renewals, insurers may reject your proposal to purchase a policy from them.
5. To avoid any of the above, simply renew your car insurance online before it expires and keep your vehicle insured.

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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.