How to Revive a Car Insurance Policy?

Posted on: Sep 19, 2019 | | Written by:

How to Revive a Car Insurance Policy?

Published on September 23, 2019. EST READ TIME: 5 MIN

Reviving a car insurance plan/policy involves contacting the insurance company and expressing your intention to renew the policy. The insurance company will then assess the situation and provide you with the necessary information and documentation required for policy revival, according to your comprehensive insurance, third party car insurance, or personal accidental cover.

In today's busy life, it is natural to forget a few things no matter how well you plan ahead. It is true for car insurance policy as well. Regardless of how particular you are about remembering dates, you may fail to renew your car insurance policy in time and end up repenting.

It always makes sense to renew your car insurance policy much in advance. This is because there are a lot of risks and penalties involved in driving a car without insurance. However, if your policy ever gets expired, it is important you immediately purchase a new policy.

Here is Why You Should Never Let Your Car Insurance Expire

If your car insurance expires, it puts your vehicle at risk. You are not covered for any sort of mishaps. In order to renew your car insurance policy, your vehicle will have to go through inspection all over again . Also, if the policy has expired for more than 90 days, you will lose on the No Claim Bonus and will need to pay the complete premium amount without a bonus.

Letting your car insurance plan expire can have significant consequences and is generally not advisable. Here are some reasons why you should never let your car insurance plan expire:

1. Legal Requirement:

In most countries, including India, having valid car insurance plan is a legal requirement. Driving without insurance or an expired policy can lead to fines, penalties, and legal consequences.

2. Financial Protection:

A car insurance plan provides financial protection in case of accidents, theft, or damage to your vehicle. If you let your policy expire, you will be responsible for bearing the entire financial burden in such situations.

3. Liability Coverage:

A car insurance plan includes third party liability coverage, which protects you against legal liabilities for injuries or property damage caused to others in an accident. If your policy expires, you will be personally responsible for any damages you cause, which can be financially devastating.

Things to do When your Car Insurance Plan Expires

When your car insurance plan expires, you must take prompt action to maintain continuous coverage and stay protected on the road. Here are some things you should do when your car insurance plan/policy expires:

1. Renew the Policy:

The first step is to renew your car insurance plan as soon as possible. Contact your insurance provider or insurance agent to initiate the renewal process. Ensure to provide all the details and documentation required for the renewal, whether for comprehensive insurance, third party car insurance, or personal accidental cover.

2. Assess Your Coverage Needs:

While renewing your policy, take the opportunity to assess your coverage needs. Consider factors such as the age and condition of your vehicle, your driving habits, and any additional coverage options you may require.

3. Avoid Driving Uninsured:

It is crucial to avoid driving your vehicle uninsured, even if your policy has expired. Uninsured driving is illegal and can lead to penalties, fines, and legal consequences.

Offline vs. Online Expired Car Insurance Plan Renewal

You can do it offline or online when renewing an expired car insurance policy. Here's a comparison between offline and online car insurance plan renewal methods to help you make an informed decision:

Offline Renewal:

1. Visit Insurance Office: With offline renewal, you must visit the insurance company's office or contact an insurance agent in person.

2. Paperwork and Documentation: You'll have to complete physical paperwork and provide necessary documents such as previous policy details, vehicle registration documents, identification proof, etc.

3. Manual Process: The renewal process involves manual verification, form filling, and submission of documents, which can be time-consuming.

4. Personal Interaction: Offline renewal allows you to interact face-to-face with an insurance agent, which may be preferred by individuals who prefer personal assistance.

Online Renewal:

1. Convenience:

Online renewal offers the convenience of renewing your policy from anywhere, anytime, as long as you have an internet connection.

2. Quick and Easy:

The process is streamlined, and you can complete the renewal within a few minutes. No physical paperwork is required, and the documentation process is simplified.

3. Instant Policy Issuance:

Once the online renewal process is completed and payment is made, you can instantly receive the renewed policy document via email or download it from the insurer's website.

4. Access to Information:

Online platforms offer detailed information about policy features, add-ons, exclusions, and claim processes, allowing you to make an informed decision.

5. Secure Transactions:

Online transactions are secure and encrypted, ensuring the safety of your personal and financial information.

How to Renew Expired Car Insurance Plan Online?

Renewing an expired car insurance plan/policy online is convenient and straightforward. Here are the steps to renew your expired car insurance online:

• Visit the Insurance Company's Website

• Navigate to the Renewal Section.

• Provide Policy Details

• Verify and Update Information

• Choose Policy Coverage

• Add-on Covers

• Premium Calculation

• Make Payment

• Policy Confirmation

• Download the Policy

Self-Inspection For Expired Car Insurance Renewal Online

When renewing an expired car insurance plan/policy online, some insurance companies may require a self-inspection of the vehicle. It is typically done to assess the vehicle's condition and verify its insurability. Self-inspection under expired car insurance renewal online helps ensure the vehicle is in good condition and meets the insurance company's underwriting guidelines. It allows insurers to assess the risk associated with the vehicle accurately.

Documents Required to Renew Expired Car Insurance Policy

You must provide certain documents to complete the renewal process when renewing an expired car insurance policy. The exact requirements may vary depending on the insurance company and the specific policy, but here are some common documents that are often requested:

1. Previous Policy Documents:

You will need a copy of your previous car insurance documents, including the policy number and expiration date. It helps the insurer identify your previous coverage and policy details. It is mandatory in the case of all plans, namely; comprehensive insurance, third party car insurance, and personal accidental cover.

2. Vehicle Registration Certificate (RC):

A valid copy of your vehicle's Registration Certificate (RC) is usually required. It contains essential details about your vehicle, such as the registration number, chassis number, engine number, and owner's name.

3. Valid Identification Proof:

You may be asked to provide valid identification proof, such as your Aadhaar card, PAN card, passport, or driver's license. It helps verify your identity as the policyholder.

4. Vehicle Inspection Report:

If the insurance company requires a vehicle inspection for renewing an expired policy, you may need to submit a vehicle inspection report. This report assesses the condition of the vehicle and confirms its insurability.

5. Proof of No Claim Bonus (NCB):

If you are eligible for a No Claim Bonus (NCB) discount based on your previous claim-free years, you should provide the necessary documents to prove your NCB entitlement. It can be in the form of an NCB certificate or a renewal notice from your previous insurer.

Conclusion

Reviving a car insurance plan/policy is crucial to maintain continuous coverage and protecting your vehicle from unforeseen risks. Being proactive about renewing your car insurance policy lets you enjoy uninterrupted coverage and peace of mind on the roads. Remember, timely renewal is essential to safeguard yourself, your vehicle, and others on the road.

Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales.

This blog has been written by Mr. Mukesh Kumar recommends getting your vehicle insured from HDFC ERGO, a brand serving more than 1 crore+ customers. With overnight repair services and more than 7,600+ network garages, you can be assured of help in event of any damage to your vehicle

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