Car Insurance is normally bundled in the package when a person buys the new car. The insurance is only valid for a year and needs to be renewed after that. If a car owner fails to renew the car insurance then it will lapse and he or she will committing an offence as it is mandatory to have a valid car insurance to make the vehicle road legal. Hence Car insurance renewal is an important thing that needs to be taken care of. The ideal time span to renew the policy is recommended to be 30 days before the expiry date.
Documents required for car insurance renewal
While processing car insurance renewal, some documents need to be kept handy to ease and smooth out the procedures.
To decide the premium for the policy, information like make and model of your vehicle, registration date, registration place, name of the owner, lease/hypothecation details, etc. are required. The registration certificate contains all such information about the vehicle, and it would be better to have both a hard copy as well as a soft copy of the same.
Previous year’s policy documents
If you switch your car insurance renewal provider, then on clearing out your account from the previous company, you are provided with the no-claim bonus amount by the company. This amount is transferable, using which your premium amount for the insurance can be reduced to a nominal amount. Once you have all the information that needs to be furnished to the insurance provider or broker or agent, then, all you need is to complete some formalities and drive home tension free.
• Provide the correct vehicle information to your car insurance provider like car make and model, car registration number, registration date, registration city, owner’s name, no-claim bonus eligibility etc. This information decides the amount you have to pay as car insurance premium.
• Compare various quotes offered by different companies and find out if there is any cashless facility offered by the company in your area.
• Ask for the add-on covers that the company is providing. If your car is new, then you can have a zero depreciation add-on cover.
• On receiving all the documents, do check for the correctness of even the smallest details in all of the documents.
• You can get your policy renewed instantly if it has not crossed its expiry date. If so, ask the insurer for an official vehicle check under the company policies. Information on this can be obtained by the broker or agent, after which you can proceed with the further processes as instructed by the insurer.