How to Do Online Car Insurance Renewal: A Detailed Guide

Posted by Bhargav Baweja on August 6th, 2019

Driving a four-wheeler on a lapsed insurance is illegal and can end up costing a lot in case of an accident. By learning how to renew your insurance online, you can prevent such troubles with minimum effort.  The ease with which you can achieve the renewal is a significant advantage for vehicle owners. However, you have to follow a few steps for renewing your insurance online to make sure you get a suitable policy that is right for you.

 

Step#1: Get Quotes from Insurance Companies

To fasten this process, you can use 3rd party insurance portals that give you quotes based on some specific details such as your car’s model and date of registration. You can further alter some fields such as NCB to get the right quotes from various insurance companies all at one page.

 

Step #2: Do a Thorough Analysis

After you get quotes from various insurance companies, make a comprehensive comparison of the different policies available with various insurers. It doesn't hurt to consider other options, even if you are satisfied with your current policy. Doing some research can also get you details of good deals and discounts offered by various insurance companies.

Make sure you check claim settlement ratio (CSR) by every insurer.  This will give you an idea of how the company settles the claims made by the policyholders.

 

Step#3: Choose the Right Policy

Select the insurance policy that suits your needs. It may not be wise to go with the policy that offers the lowest premium. Look at the other features to see which policy suits your needs and remember to read all the terms and conditions before purchasing it.

 

Step #4: Input Required Details

You will have to enter details related to your car and desired coverage options to get quotes from the insurer.  You need to log on to renewal website and enter following details-

  • Enter the make and model of your car
  • Set your Insured Declared Value (IDV)
  • Check the value of deductibles
  • Check the No Claim Bonus (NCB) discount available
  • Select the add-ons you would want

 

Step #5: Fill and Submit Application Form

Once the policy is chosen, it is time to enter your personal details and information about your previous insurance policy. You might need your Registration Copy (RC) to enter the engine number and chassis number of your vehicle, among other details. Take care not to leave the form incomplete and make sure you enter accurate information before submitting the form.

 

Step #6: Make Online Payment

Choose the payment options available like a credit card, debit card, net banking, or other electronic options available on the website. Online method is an instant way to make payment and renew your policy.

 

Step#7: Receive Documents from Insurer

On payment, you get an e-receipt immediately confirming your online car insurance renewal. The insurance company may also send physical documents related to your policy in a few days.

Remember to Renew on Time

It is not advisable to wait until the last minute to renew your policy. Considering the repercussions of having an expired policy, it is better to renew it ahead of time. Since doing it at the eleventh hour can be a stressful experience, remember your expiry date and renew your policy before it lapses.

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Bhargav Baweja

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Bhargav Baweja
Joined: July 7th, 2017
Articles Posted: 9

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