5 min read
Updated on Jan 12, 2024
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.
Read More: Cheap Car Insurance Plans in India
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.
Also Read: What Does a Car Insurance Cover?
The bottom line
Car owners should renew their insurance policies in time to avoid fines and other issues. Renewing a policy online is favoured these days as it helps save on both time and money. But yes, do not forget to read the terms and conditions while renewing a policy. PayBima’s team assists policyholders in choosing the right protection & riders to make the car insurance renewal effortless and advantageous.
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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