Tips To Renew Car Insurance Policy Online
Updated On Oct 14, 2023
Tips To Renew Car Insurance Policy Online Quickly
The process of your car insurance renewal can be eased considerably if done online. Here are the steps required to complete the process:
Step 1: Compare Policies Offered by Different Insurance Providers
The advantage of selecting a policy online is that it allows you to simultaneously view all the different policies and insurance providers and allows you to compare their benefits and disadvantages. Comparison is extremely beneficial as it will provide you with the maximum savings. You will be able to view all the different options available to you in one go and select the one which is most suited to your needs, based on premium as well as coverage.
Step 2: Select the Type of Policy and Coverage that You Want
After completing this process of comparison, you should select an insurance provider that offers the most comprehensive coverage and at the best price. On selecting, you should be able to get a quote of the premium cost with an online car insurance premium calculator. After selecting an insurance provider, you would need to select the kind of insurance that you would like to opt for.
a) Third Party Insurance
Third Party Insurance would cover liabilities arising from damage caused to a third party only.
b) Standalone Own Damage Insurance
Own Damage car insurance would cover liabilities in case of own damage to a car, as well as by natural disasters or theft.
c) Comprehensive Insurance
Comprehensive car insurance would provide coverage for liabilities arising from damage caused by a third party, as well as additionally, liabilities arising from own damage.
Once you have selected your insurance provider and the type of insurance that you would like to opt for, you can move on to the next step.
Step 3: Fill in the Online Form
You would be required to fill an online form with the details of your insurance policy. It is useful to keep the following details handy as they will be required during the renewal process:
- Full name of the applicant
- Full address of the applicant
- Make and Model of the car
- Registration number of the car
- Previous insurance policy number
Step 4: Select Required Add-Ons
Car insurance Add-on covers are features that allow you to strengthen your coverage. A standard insurance policy would not provide coverage for all foreseeable scenarios and thus it can be advisable to select some add-ons as they will make the coverage offered by your insurance policy stronger. Add-ons are varied in nature, for example:
a.) Return to Invoice Cover
under return to invoice cover, you would be able to claim the invoice price of your car, ie. the amount you paid at the point of purchase, rather than the depreciated market value of the car, otherwise known as IDV or Insurance Declared Value.
b.) Roadside Assistance
Roadside assistance add on allows you additional coverage of services provided at the roadside in case of any accident or unforeseen circumstance.
c.) Engine Protection Coverage
In case of damage to your engine, engine protection add-on cover enables you to receive coverage for the repairs of a damaged engine. This is especially recommended if you live in a flooding-prone area.
Step 5: Make the Payment
Make an online payment for your renewal premium in order to receive your renewed insurance policy. There are various ways to make the payment, such as netbanking, credit card, debit card, or online wallets.
A third party car insurance policy is mandatory by law in India. By following these simple steps, you can complete the process of insurance policy renewal online itself and retain coverage for your car. Completing the process of renewal of your car insurance policy not only saves you time and effort but also enables you to compare different policies at once and allows you to access the best policy for your needs.
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Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.