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. Listed below are 5 tips that will help you reassess your car insurance policy when you are about to renew 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. 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. 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.
● Add Those Add-ons
While you consider going for Comprehensive Car Insurance, here’s another reason why 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 you 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 be one of those people who like to make a statement by modifying their 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 modified parts, chances are that the insurer might not approve it, as those modifications did not exist while the car was insured. It is suggested to get in touch with a car insurance executive to know the right insurance cover for your modified car.
● New Insurer
You have the option of switching your insurance provider if you are not satisfied with the services provided by your current insurer. You can also switch if you come across a new insurance provider that offers convenient insurance policies with suitable features at an affordable price.
Timely Policy Renewal
Whether or not you choose to change your policy depending upon the above-mentioned points, make sure to renew your car insurance policy promptly. Your car insurance policy becomes invalid the moment it expires. Driving with an expired car insurance policy is as good as driving without a car insurance policy. This makes you vulnerable to financial losses if your car meets with an accident, or you are fined by the traffic police.
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 to you within minutes.