Things To Do When Your Car Insurance Expires

Is your car insurance coverage up for renewal? If you answered yes, the logical next step is to renew it as soon as possible. What you should consider while renewing your car insurance coverage, however, may not be clear. Read on to get the answers to some often asked concerns about what to do if your car insurance policy has run out of coverage.

Once your car insurance coverage expires, your car is totally exposed. If something occurs to your car, you are not entitled to any form of compensation for the damage. You would have to cope without any financial support if your car is stolen or burns down. First and foremost, there are several risks and penalties associated with lapsed car insurance, and your car will also be examined prior to renewal. As a result, you must renew your insurance in time to save time and money. 

Things To Do When Your Car Insurance Expires

Driving without a valid insurance policy is illegal in India. If your car insurance has expired for any reason, here is what you must do.

• Is It Mandatory To Renew Car Insurance?

While driving, the law requires that you have legal car insurance coverage. The Motor Vehicles Act of 1988 makes it obligatory to get car insurance (or renew expired car insurance) before driving on Indian roads. You can renew your car insurance online, just like you can buy it. Driving a car without a valid car insurance policy is a punishable offence that can be penalised with a fine of up to Rs. 2,000 and/or imprisonment of up to 3 months.

It is recommended that you renew your car insurance coverage as soon as possible and refrain from using the car until the policy is renewed. You will not be able to claim insurance if your car is engaged in an accident or is involved in an unlucky occurrence since you will not have a legitimate insurance cover. You may also find yourself in legal trouble if you injure a third person.

• Make Contact With Your Insurance Provider

Even if you've missed the deadline for renewal, you can still call your insurance agent and make arrangements. In such circumstances, your agent will be in a better position to assist you. Your agent may be able to restore your insurance coverage, saving you from incurring any penalties.

• Drive Your Car As Little As Possible

By driving your car, you are placing it in even more danger. Even if it is not your fault, small damage to your car is not covered by your insurance coverage. Whether you really cannot live without your car, contact your insurance provider to see if they provide the option of renewing your coverage online. Your car insurance may be renewed in a matter of hours if you use an online renewal method.

• Renew A New Policy

You may need to renew your expired car insurance coverage if your insurance provider has terminated it due to non-payment of premiums. There are several insurance firms that provide low-cost car insurance. However, you must choose a dependable policy.

• Break-In Period Of Car Insurance

The time between the final date for car insurance renewal and the date on which you renew the policy is known as the break-in period. If your policy's renewal date is January 1 and you renew it on January 30, the break-in period is the 30-day interval between the two dates.

Take Away

The process of renewing your car insurance is no longer time-consuming. Thanks to online car insurance, it's a chore that can be checked off your to-do list in minutes. Such insurers provide a website/app where you may quickly renew your policy. The time it takes to buy/renew an insurance plan is comparable to the time it takes to reserve a movie or a travel ticket. You may save money by renewing your car insurance with a digital-first insurance provider. This is due to the fact that the premiums charged by such businesses are very cheap.

You may also like to read: No Claim Bonus in Car Insurance: Know More? 

Tips To Avail No Claim Bonus For A Car Insurance Policy  

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.