Reassessing things is a good way of knowing where you are and where you want to go. This philosophy applies to various aspects of life. It is applicable while renewing your car insurance as well. It is a known fact that car insurance is mandatory in India. Thus, you have to not only purchase a car insurance policy but keep on renewing it promptly. Below are 5 tips to help you reassess your car insurance policy when restoring it.
● Time for An Upgrade
If you have been driving around with a basic Third-party Liability Car Insurance policy, it might be time for you to get an upgrade. By opting for a Comprehensive Car Insurance policy, you follow the law and insure your car against damages arising out of accidents, theft, calamities, etc. While a Third-party Liability policy is good enough to keep you on the right side of the law, it doesn’t insure your car in times of adversity.
● Add Those Add-ons
While considering going for Comprehensive Car Insurance, here’s another reason you should opt for it. Add-ons! Add-ons are extra insurance riders that you can add to your policy to cover specific risks and avail of extra benefits. Some of the popular Add-ons are Zero Depreciation, Roadside Assistance, Accessories Cover, etc. Add-ons cannot be purchased with a basic Third-party Liability policy; they can only be added to a Comprehensive Car Insurance policy.
● Get Those Discounts
Car insurance companies reward good drivers with a No Claim Bonus (NCB). NCB is given to those who do not raise a claim during a policy year. This discount can be applied while renewing your policy. Your car insurance provider might also provide a discount on your car insurance premium if you have installed anti-theft devices certified by the Automobile Research Association of India.
● Have You Modified Your Car?
People like to express themselves by modifying their cars. They add accessories to it, change the interiors, play around with the technical specifications, etc. If you happen to like to make a statement by modifying your car, ensure to inform your car insurance provider about the same. If you fail to inform and raise a claim for damages incurred to the changed parts, the insurer might not approve it, as those modifications did not exist while the car was insured. Getting in touch with a car insurance executive is suggested to know the right insurance cover for your modified car.
● New Insurer
You can switch your insurance provider if you are not satisfied with the services provided by your current insurer. You can also change if you come across a new insurance provider that offers convenient insurance policies with convenient features at an affordable price.
Timely Policy Renewal
Whether or not you choose to change your policy, depending on the points mentioned above, renew your car insurance policy promptly. Your car insurance policy becomes invalid the moment it expires. This makes you vulnerable to financial losses if your car meets with an accident or you are fined by the traffic police. Driving with an expired car insurance policy is as good as driving without a car insurance policy.
Nowadays, it has become straightforward to insure your car online. You just have to visit your preferred insurance provider’s website, choose your car insurance plan, read and understand the terms and conditions, and purchase the policy. Once you make the payment, your policy document shall be emailed within minutes.
