As you have landed on this page, it won't be wrong to assume that you are looking for details on car insurance renewal or want to renew your existing car insurance plan. Well, it is mandatory, as per the rules of the Motors Act of India, to have at least a third-party liability car insurance policy to ride a car.
But the legal cover is not all that you enjoy with car insurance. You also save on a lot of expenses arising from car repair costs. An active plan is required to raise a car insurance claim.
With the changing trends of both the car insurance companies and the needs of customers, now renewing your car insurance plan is no more a headache. It can be done just within a few clicks. No need to get up and shake your legs in the long queue. Let's see how you can quickly complete car insurance renewal.
There are simple steps involved in car insurance renewal. Do not forget, you can only raise a car insurance claim when you have a valid car insurance policy. This is how you can renew your plan:
Visit the official website of Acko and log in
Click on the 'renew policy' option
Enter the details of your existing car insurance policy
Click on the car insurance renewal option
Here, you can make changes to the plan (update or change the existing plan)
Make the payment to complete the process
A confirmation notification will be sent to your registered mobile number and email ID once you complete the process.
To make a smart and informed decision, you must not leave any stone unturned to know all about car insurance renewal. Here are a few things that you must consider before renewing your car insurance plan:
Do not compromise your comfort zone
The best part about purchasing or renewing car insurance policies these days is you do not have to rush anywhere. Even gone are the days when depending on dealers was a big deal.
Now, all you need to do is open your laptop and visit the website of your insurance provider like Acko. Check your existing plan and renew it within a few clicks. However, all the policyholders also have the option of visiting the nearest branch of the insurance provider as per their comfort
Update the policy as per your needs
Did you know that you need not stick to a particular car insurance plan or company once your policy period is over? Yes. At the time of car insurance renewal, you can switch your plan or the company.
In order to know the best deals available, make an online comparison. With Acko, you can easily compare plans and pick the best one as per your requirements
Car insurance renewal on time makes a big difference
As having a car insurance policy is legally mandatory, why procrastinate it? Delaying beyond the renewal period can cost you a penalty or you may even have to purchase the whole plan again.
However, if you renew the plan on time, you can enjoy certain benefits. Right from the best of deals you can also avail of discounts and offers which may not be available once the renewal period is over
Check on the grace period
Even after the car insurance renewal date has expired, you get a grace period of 30 days. This is the final call for renewing your car insurance policy. In case you forgot or missed getting your policy renewed on time, you still can renew it.
However, once the grace period is crossed, there is no way that you can renew your car insurance policy. You will have to purchase the plan again
Make sure you check the IDV
At the time of renewing your car insurance policy, do not forget to check the IDV (Insured Declared Value) of your car. IDV is the current market value of your car that you receive in case of a total loss of your vehicle
NCB can bring great benefits
No claim bonus is accumulated when no car insurance claims have been raised in a policy year. NCB backs you with great discounts and benefits during renewing your policy. So, when you renew your plan, use your accumulated NCB to get better premium rates.
Renewing the plan on time is essential to keep the services on and to avail of discounts and other benefits. If you fail to renew the plan, you will lose coverage and may also have to face legal obligations. Your insurance provider will keep you notified of the renewal date so you don't miss out on it. While renewing, you can improve or change your plan as per your changing needs.