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Car Insurance Renewal India
Let You Stay Insured throughout
Let You Avail NCB Benefits
Permit to Include Add-On or Change Add-On Covers
Permit Comparison of insurance policies
All car insurances are available with a validity period. Once the validity period is over, the plan requires to be renewed via a process of Car Insurance Renewal, which is an easy and simple process. It is important to renew your car insurance policy at regular intervals so that your car insurance policy stays active, and you can avail compensation for any financial losses or legal troubles that you might incur for your car.
The validity period of most car insurances is between one to three years. If you do not renew your car policy before it expires, the plan gets lapsed, and you lose all accumulated benefits. That is another reason why you must renew the policy on time to continue enjoying various benefits received as part of the policy. You can renew your Motor insurance plan via any insurer, including the one that you have already bought your car policy from or a new insurer.
Features & Benefits of Car Insurance Renewal
Renewing your car insurance on a regular basis allows you to avail numerous benefits along with the option of availing continued coverage under the terms and conditions of the policy.
Here are some of the benefits of Car Insurance Renewal:
Allow your car to stay insured all the time
By renewing a Car Insurance Policy you can stay insured continuously throughout the period of driving a car. If the policyholder doesn't renew his/her car insurance policy and the car meets with an accident after his policy expires, in that case, the insurer will not pay for the damages caused to your car. So, to avoid such situations, it is better to stay insured by Car Insurance Renewal.
Allow you to avail benefit of No Claim Bonus (NCB)
With continued insurance coverage of your car or with the help of car insurance renewal, you can ensure that your NCB stays intact. You earn NCB if you do not make any claims during a policy year and this NCB stays with you when you renew your policy without a gap. 20 - 50 percent NCB discount can be availed at the time of renewing a policy.
Allow you to change your Insurer
With your help of Car Insurance Renewal, you can change the insurer from whom you have purchased the policy. So, if you are not happy with the facilities offered by your insurance company, you can change it and find another good company with better coverage and facilities at the time of renewal.
Allow you to opt for or to change add-on covers
Add-on coverage allows you to enhance the coverage of your car. So, if you want to add or remove any cover on your car, you can do so at the time of policy renewal. Some of the add-on covers include; engine cover, zero depreciation cover, roadside assistance cover, and so on.
Saves You from Penalty
It is a punishable offense to drive a car without a valid third-party insurance as per Indian Motor vehicle Act. Thus, it is vital to keep your car policy active all the time. And for that, you have to renew your car policy before it expires and continue doing so.
Steps for Car Insurance Renewal Online Through PayBima
PayBima allow you to have online car insurance renewal with ease by simply following some of the steps as mentioned below:
Step 1
Visit paybima.com and click on the 'Car' tab.
Step 2
Now, enter your car Registration Number. Once done, click on the ‘Proceed’ button.
Step 3
Now select your car's model, variant, brand, fuel type, year and place of registration and so on.
Step 4
At this stage, provide the date of expiry of your previous policy as well as the name of your previous insurance company.
Step 5
Click on the ‘Continue’ button to proceed with the online car insurance renewal process.
Step 6
Fill in your personal details such as name and mobile number and click on ‘Submit' button to receive quotes.
Step 7
You can see a screen with all quotes made by different insurers. Compare the quotes to choose the one that suits your requirement best. Here, you can choose different add-on covers that you want for your car.
Step 8
Finally, you can click on the ‘Buy Now’ button, once you finalize the policy you want to buy. So, here you can proceed with the payment using your online payment facilities.
Step 9
Within minutes, your car insurance renewal online will be done and your policy will be issued. You will receive the policy document at your registered email address and phone number.
Step 1
Visit paybima.com and click on the 'Car' tab.
Step 2
Now, enter your car Registration Number. Once done, click on the ‘Proceed’ button.
Step 3
Now select your car's model, variant, brand, fuel type, year and place of registration and so on.
Step 4
At this stage, provide the date of expiry of your previous policy as well as the name of your previous insurance company.
Step 5
Click on the ‘Continue’ button to proceed with the online car insurance renewal process.
Step 6
Fill in your personal details such as name and mobile number and click on ‘Submit' button to receive quotes.
Step 7
You can see a screen with all quotes made by different insurers. Compare the quotes to choose the one that suits your requirement best. Here, you can choose different add-on covers that you want for your car.
Step 8
Finally, you can click on the ‘Buy Now’ button, once you finalize the policy you want to buy. So, here you can proceed with the payment using your online payment facilities.
Step 9
Within minutes, your car insurance renewal online will be done and your policy will be issued. You will receive the policy document at your registered email address and phone number.
Car Insurance Renewal Process of Other Insurer Company’s Website
You can get the car insurance policy renewal of your car by visiting the portal of the insurer by following the below steps:
Here is the process to renew your car insurance through the official website of the insurance company:
- Go to the official portal of the insurer.
- Visit the 'car insurance renewal' section on the portal.
- Enter the details of your previous renewal of car insurance policy, such as;
- Car insurance policy number
- Car registration number
- Engine number
- Chassis number etc.
- Now check the policy details/quotes of different policy providers to check the policy renewal premium. Now you can proceed with paying the renewal fee via online modes of payments as per your preference.
- Your car renewal insurance is done, you will get a confirmation of the policy renewal on your registered mobile number.
Frequently Asked Question
To get cheaper car insurance renewal you must check and compare different policies online and buy the one that suits your requirement best. Here are some points to remember if you wish you buy cheap car insurance policy:
- Buy policy online.
- Use NCB to get a good discount.
- Choose a multi-year car insurance plan.
- Compare different policies.
- Opt for a suitable IDV or Insured Declared Value.
- Ensure that the policy doesn't lapse.
- Choose deductibles wisely.
Yes, you can renew your car insurance online by following the below steps:
- Go to the official portal of the insurer and visit the car insurance renewal section.
- Enter the details of your previous car insurance policy such as policy number, car registration number, Chassis number and engine number.
- You will get quotes of different policies. Check details and choose the one best suitable for you.
- Make the payment online and buy the policy.
If your car insurance expires, inform the insurance company immediately. You may still renew your expired policy during the 90 days grace period from the date of expiry. However, if the grace period also expires, you would have to purchase a new policy.
Yes, all insurance policies can be renewed. You may renew the policy before it expires. Or if your policy has already expired, you may renew it during the grace period that most insurance companies allow.
If your car insurance expires, you must inform the insurance company immediately. Most insurers allow a grace period of over 90 days from the date of expiry of the policy during which you can renew your expired policy. However, if the grace period also expires, you would have to purchase a new policy.
If you fail to renew your insurance policy on time it will expire and you will be at a risk of being caught by the traffic police for driving an uninsured car. Further, you will not get reimbursement for the loss or damage that your car suffers if you don't have an active car insurance policy. Also, even in case of theft or fire, you will not get any financial assistance from the insurance company.
No, car insurance doesn't get renewed automatically. Most car insurance policies are renewed once a year. Before your car insurance expires, your insurance company notifies you about the renewal date by making a call, by email etc. so that you can renew it on time.
It is compulsory to have a basic third-party insurance of your vehicle as per India's Motor Vehicle Act, 1988. So, you must keep your vehicle insured with a third-party insurance. And to keep it insured it is compulsory to renew your vehicle insurance.
