6 min read
Updated on Mar 30, 2023
To avoid expenses incurred during mishaps and to stay financially protected, a car insurance policy is a requirement that every car owner should have before taking it on the highway. Further, third-party liability car insurance is a compulsory requirement as per Motor Vehicle Act of India that each car owner must have to run freely on the roads without the fear of penalty.
However, to avail the benefits of car insurance coverage continuously and to keep the policy active all the time you must renew the policy regularly. In this post, we will understand the process of car insurance renewal and the documents needed for the same.
When a car owner purchases a car insurance policy, it needs to be renewed yearly in case of old cars. If it is a brand new car, the insurance policy offered with the car is for a period of three years after which you need to renew it on yearly basis. If a car owner fails to renew a car insurance policy, he/she may face legal action in the form of fine and imprisonment under the Motor Vehicle Act of India.
Also Read: Cheapest car in India
Timely car insurance policy renewal is important because otherwise the policy might get lapsed if the date of renewal is missed. A lapsed policy will make a car owner defaulter under the motor vehicle laws, while it also rejects car insurance claims made by the policyholder.
In such a case, the insurer will not be liable to pay any damages in case your car met with an accident, while the policy is inactive. Hence in that situation, if your car causes any third-party damages you will have to pay for it from your pocket along with paying for your own damages.
Therefore it is significant to renew your car insurance on time to avoid any such inconvenience and to keep your vehicle insured against financial liabilities. Further, you can also claim several benefits such as NCB or No Claim Benefit at the time of renewal.
For car insurance renewal online, below are the steps to follow:
If you want to change your insurer and opt for another insurance company, you can do so at the time of policy renewal. In that case, you can search for the best policy via the website of an insurance broker like Paybima. However, you have to inform your current insurer about the same 45 days prior to your renewal date.
Below are the steps to follow:
Below is a list of documents required to submit at the time of auto insurance renewal process:
Here are top 8 insurers offering the best car insurance in India:
|Name of the plan||Network garages||Plan Type||Benefits|
|HDFC ERGO Comprehensive Car Insurance||8,200 +||Comprehensive||Overnight car repair services
‘Pay As You Drive’ add-on
|IFFCO Tokio Comprehensive Car Insurance||4,300+||Comprehensive plan with Zero Depreciation for Car Insurance add-on||No charge for roadside assistance
50% discount on NCB
|TATA AIG Comprehensive Car Insurance
Personal Accident Cover
|SBI General Private Car Insurance Plan||6,400+||Comprehensive||NCB benefit
12 add-ons including key replacement and bi-fuel kit
|Digit Car Standalone Own Damage Car Insurance Plan
|5,800+||Own damage||Own damage car cover
|ICICI Lombard Private Car Package Policy
|4,800 +||Comprehensive||50% discount under No Claim Bonus
Fast claim settlement from digital app
|New India Assurance Motor Package Policy||500 +||Comprehensive||Towing Charges Cover
Option to customize IDV
|Acko Comprehensive Super Saver Car Insurance
|2000+||Comprehensive Own Damage Cover||Nine add-ons cover
Free Pick and Drop for repairs
Renewing your vehicle allows protection to your car and thus it is very important for every vehicle to stay covered. Further, a third-party car insurance is also important as it is an obligatory insurance required as per government mandate.
Though the choice of buying or renewing a policy via online or offline mode is up to the policy seeker and his/her comfort. However, online buying allows many benefits as compared to offline purchase. At the same time, it allows you the option to check policies and compare them to be able to choose the best plan as per your need.
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Car insurance renewal is an easy process. All you need is to visit the official website of your insurer and submit the expiry date and other details of your previous car insurance policy. Also submit details like vehicle registration (RC) number, chassis and engine number of your car. Now check the policy details and the premium amount. Proceed to make the payment via available modes of online payments.
Most insurance companies allow car insurance renewals a minimum of 45 days before the current policy expiry date.
If you renew your car insurance before expiry, you stay covered under a car insurance plan all the time and your policy stays active. Moreover, it is advised to not drive your vehicle in the period during which your car is not insured to avoid damages.
If you miss your car insurance renewal date and fail to renew the policy on time, your insurance will expire and the car will be at risk. Your car will not be covered and you will not receive any compensation for any damage, theft or other mishap.
You should drive your car after renewing the policy. It is advised to not drive the vehicle during the short time for which the car wasn't insured to avoid damages.
PAN Card, Aadhar card, Passport or any other Government ID Proof
Proof of Address
Copy of Driving License
Vehicle Registration Number
Copy of Car Registration Certificate
Pollution Under Control (PUC) Certificate
Policy Number of existing Motor Insurance plan
Card details for making online payment
PayBima is an Indian insurance aggregator on a mission to make insurance simple for people. PayBima is the Digital arm of the already established and trusted Mahindra Insurance Brokers Ltd., a reputed name in the insurance broking industry with 17 years of experience. PayBima promises you the easy-to-access online platform to buy insurance policies, and also extend their unrelented assistance with all your policy related queries and services.
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