Related Articles
How to Renew Car Insurance Policy Online in India
.png)
Paras has a car and he uses it for both within city and out of city long trips. His car insurance was going to expire and the fact that he did not know how to renew the same was making him anxious. As the due date drew close he got worried but on consulting his friends he realized he could renew it online. As suggested, he paid the car Insurance Policy renewal amount online and got it sorted in time.
Insurance is necessary for car owners because it provides ways to get maximum protection against accidents, losses due to man-made mistakes, natural calamities, and other problems. And it is important that policyholders keep a tab on the renewal date to avoid fines and penalties. While one can renew the policy in various ways, he/should consider choosing online services because it offers several advantages.
1. Selecting an insurer
Many car owners will consider renewing a policy with the same company after purchasing a policy. However, there are several companies in the market offering insurance plans at very competitive price. And it would be beneficial to do a little bit of research and compare the plans to get an car insurance renewal which offers maximum benefits at a reasonable cost. A policyholder should choose a company that offers excellent pre-sale and post-sale services. Not only that, he/she should consider whether the service offered is worth the money while purchasing a policy.
2. Finalizing the insurance policy
Anyone who wants to know how to renew car insurance online can get the process idea from various websites. It is always advisable that policyholders compare policies online before spending money on a purchase. Several insurance companies offer third-party insurance and comprehensive insurance plans for car owners that cater to their needs Not only that, the buyer should ideally visit the website of the selected insurance company to find the details of relevant product.
3. Filling the details
In the 3rd step, policyholders should submit the details of their vehicles such as model, variant, age, make, claims history, and location. They are necessary to proceed further in the car insurance renewal.
4. Choosing add-ons
Many insurance companies offer add-ons that will help ensure better protection. Those who want to renew insurance online after adding some add-ons can select them. Some of the features offered by add-ons include zero depreciation, roadside assistance, NCB protection, engine protection, return to invoice, consumable cover, and loss of personal belongings.
5. Making payments
Policyholders should make payments after selecting the right plan. They can pick any one of the options such as net banking, online wallet, apps, credit card, debit card, etc. Moreover, it makes the car insurance policy renewal online an easy one. Once the payment is done, the renewal process becomes complete.
6. Reviewing the policy document
An insurer will send a copy of a policy document to a policyholder’s mail after payment is successful. It is usually in PDF form and no one can make any changes. A policyholder should make sure that the document contains all the details of a policy. He/she can download the document and save it properly for future reference.
Tips to renew car insurance policy online in India
- Doing research: Those interested in online car insurance policy renewal should consider doing research online that will help make the right decision. A majority of car owners will usually go for an insurance policy recommended by a showroom or dealer. Nevertheless, they should know the details of plans offered by the insurance company and spend money accordingly.
- Reviewing coverage: Policyholders should review their coverage to increase or decrease the features based on the choices. Most insurers offer add-on covers for policyholders and they can select them while renewing a policy.
- Reviewing insurer: Car owners should review insurers online when they want to renew a policy. This will help in decision making when going for online motor insurance renewal to get the desired coverage at the best price.
- Picking the right IDV: Insured declared value, shortly known as IDV, will have a direct impact on insurance premium amounts. While renewing a car insurance plan, one should focus more on picking the right IDV. This is because selecting high IDV will increase the premium prices significantly.
- Utilizing discounts: Several insurance companies will offer discounts to customers when they want to renew their car insurance. Therefore, one should speak to the insurance company representative to get a discount.
- Not forgetting the NCB: Car insurance firms will provide a no-claim bonus (NCB) feature to policyholders when they don’t claim within a policy year. A policyholder should make sure that NCB stays intact in quotes.
- Renewing before the expiry date: Policyholders should consider renewing their policy before the expiry date. And car insurance renewal online is the easiest way around it. Besides that, it enables customers to make payments in a quick turnaround time.
Author Bio
Paybima Team
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.
Other Motor Insurance Products
Car Insurance
Latest Post
Do you think health insurance is just a safety net for medical emergencies? Well, a health insurance policy is much more than that. Along with shielding your family from medical expenses, health insurance also lets you save on taxes significantly.
Life is often filled with uncertainties over which we have little to no control. The best we can do is to keep ourselves prepared to handle any type of crisis smoothly. Let’s take one step at a time and start by purchasing a robust health insurance plan that promises to cover medical emergencies in exchange for minimal premium payments.
Purchasing health insurance can be overwhelming due to the numerous types of plans and their varying levels of coverage. Let’s learn about the different types of health insurance policies.
Term insurance is an important investment. However, with the availability of so many insurers offering term plans, it becomes difficult to select the best term plan to suit your needs. Buying a term plan needs some consideration and research on the part of the policyholder. In this post, let us discuss the best term insurance providers in India.
If you think of life insurance, chances are you are picturing something people buy in their 30s or 40s. But what if you are 65 or older and just getting started? The good news is that you are never too late. Whether you are thinking of easing the financial burden on your family, covering final expenses, or simply leaving behind a legacy, there are life insurance options tailored just for you.
This article will be a guide to life insurance for senior citizens above 65 years, explaining why it is important, the type of insurance options, and how to get the right policy for you.
Health insurance plans are purchased with the hope of medical protection in times of need. However, sometimes it ends up being a source of surprise and disappointment. This mostly happens when people rush to buy health insurance plans, often overlooking essential aspects. Ignoring waiting period clauses, misunderstanding exclusions, and being unaware of sub-limits can lead to unwanted problems in the future.
This guide is all about common mistakes that people may commit during purchasing health insurance plans. Read on to make informed decisions when purchasing a health insurance policy.
Speak to our Advisor
+91
By clicking the button, I authorize Paybima advisor to contact me via SMS, Email, Phone, WhatsApp or any other modes overriding my 'DND'.T&C Apply.