Renewing a car insurance policy is not a tedious process nowadays. Previously, one had to get in touch with an agent, submit hard copies of the required documents and then wait for the car insurance policy. But now within a few clicks, one can easily renew the car insurance policy.
To make this process even better and fruitful, we have a list of things you will need at the time of renewing your car insurance policy. But first, let us understand what a car insurance policy means:
What is a Car Insurance Policy?
One can secure a car against sudden financial crisis with an insurance policy, for example, an accident which can cause a huge amount of damage. Most of us, do not save for repair costs/treatments, which may arise, due to an accident. In such cases, getting your car insured, provides peace of mind.
A car insurance policy is a contract between your insurance company and you. Under this contract, the insurance company will pay for the repairs/medical treatments caused to your car/you in the case of on-road mishaps.
Car Insurance Policy Renewal Checklist
Before you renew your car insurance policy, you need to take some time out for doing a tiny bit of research. This will ensure that you buy a policy which is best suited for your needs. Here is a list of things you might need at the time of renewing your car insurance policy.
Comparisons
As soon as you realize/get notified, that your car insurance policy is due for renewal, beginning with the process of comparing different quotes from various insurers. Instead of immediately asking your agent to renew it or renewing your policy online, search if you can get a better deal this year.
Nowadays a wide range of comparison websites is available, which facilitate easier comparisons of policies from various insurers.
Documents and Details
When you finalize the most suited car insurance policy, try to be ready with the correct set of documents and details required for renewal.
Depending on the insurance company, you will need the following documents and details:
Your contact information
Previous Policy DocumentRegistration CertificatePayment DetailsZero Depreciation CoverNCB ProtectorOn-road Assistance Add-on-engine Protection CoverReturn to Invoice Loss of Personal BelongingsYou must already be aware of the exclusions of your car insurance policy but be sure to go through them again at the time of renewals. This will help to avoid your claim getting rejected.
Consequential loss Electrical or Mechanical BreakdownCost of consumables Car used for any other intent than for the purpose it is created Driving without a valid license Driving under the influence of an intoxicating substance driving outside the country using the vehicle in a war zone using the vehicle in an area with the chances of a potential nuclear attack When damage is caused deliberately
Keep the above list handy while renewing your car insurance policy, it will prove to be beneficial in getting the perfect deal. Remember that, it is important for you to renew your car insurance policy on time. Thus, you can be financially secure at the time of accidents and avail discounts.
