Is it time for your annual car insurance policy renewal? Make use of this step-by-step guide to find out where and how to renew your policy without any hassles.
In the era of online shopping and internet banking, it’s easier than ever before to renew your car insurance policy. Make use of this step-by-step guide to simplify things for you.
Coming to the big questions,
Where to Renew your Car Insurance Policy?
All major insurance players provide their customers with several methods to renew the policy. You can now do it from the comforts of your home.
Here are the three major portals available for car policy renewal:
- Web Portal
The website of your insurance firm is one of the easiest and simplest ways to renew your policy.
- Log into the company’s website and select your policy.
- Click on the renewal button and carefully key in the exact details of your existing policy. Make sure to have the policy document on hand to find the policy number and other information.
- Review all the information you have entered and click on the Confirmation button.
- Make the payment using your internet banking account, debit/credit card or digital wallet.
- The renewed policy document is generated as a PDF file. This is an online verified copy of your policy document and contains a digital signature.
- Save the PDF file and take a print-out of it and keep it in your vehicle.
- Mobile App
As more and more companies are making the transition to mobile apps, you can now renew your vehicle policy right from your mobile devices.
- Download the official app of the insurance company onto your mobile, tablet or other handheld devices.
- Furnish the details of your current policy like policy number, policy holder’s name and so on.
- Verify your details before proceeding to the next step.
- Then, click on renew and complete the premium payment using your preferred payment mode.
- A copy of the renewed policy is sent to you via email or regular post.
- Make sure that you take a print-out of the latest insurance policy document and keep it with you in your vehicle.
- Visit your Local Branch
If your insurance company doesn’t have an online portal or if you aren’t tech-savvy, then you can visit the nearest branch of your insurance firm for policy renewal. Here’s how to do it.
- Take your original policy document and id proof with you.
- Fill the application form and pay the premium using a cheque, DD or cash.
- The hard-copy of your policy document is handed over to you as soon as the payment has been cleared.
What to do while Renewing your Car Insurance Policy?
- Compare and evaluate different policies – Just because you have a particular policy, it doesn’t mean that you have to stick to it while renewing. Make use of an online policy comparison tool to find out all the available options and select one that meets your current coverage requirements.
- Read the Policy Document in detail – Make sure that you read and understand the features and benefits of the policy. Check for hidden clauses and confirm if the policy gives you the coverage that you need.
- Renew the Policy before the Expiry Date – Make sure to renew the policy at least 30-45 days ahead of expiry. This prevents you from paying penalties and other additional costs.
- Don’t forget the “No Claim Bonus” – If you haven’t made any claim during the insured period, then make sure to claim this bonus. This also helps you in getting discounted premium for the upcoming term.
- Proofread to Avoid Hidden Costs – Insurance policies come with several clauses that can end up costing you if you aren’t aware. Make sure to reread and clarify all your doubts, before you go ahead with the renewal.
Renewal of a car insurance policy is not that complicated. Make use of the steps listed above to land the best deal. Also, don’t hesitate to get in touch with your insurance agent if you need additional help.