Renewal Date Closing In? Know Why You Should Not Delay Car Insurance Renewal

We all are aware that vehicle insurance is a mandatory requirement by the law. That makes it a part of some other compliances regarding your car, like registration and PUC. However, buying an insurance policy at once isn’t enough. It would help if you kept on renewing it consistently year over year. This is to ensure continued coverage is available, both for legal as well as safety purposes.

Car Insurance Renewal

However, at times, you might miss a renewal date in your busy work life. This article talks about why you should avoid missing a renewal date to your car insurance policy.

What happens in the event your policy expires?

If you happened to miss your car insurance renewal, here are some of the consequences –

  • First, the policy coverage ends once the due date has passed. You are no longer legally allowed to drive without a valid insurance copy. In addition, you may be required to pay hefty fines for violation of the law if inspected by traffic officials.
  • Any accumulated no-claim bonus also expires post 90 days after the due date. Thus, you end up losing all the benefits that a no-claim bonus might help you save in your premium.
  • You will be required to obtain a new car insurance policy to get your car inspected all over again.
  • In the event of an unfortunate accident or damage when no coverage is active, all the losses, be it third-party or even to your car, must be borne by you.

How to renew car insurance?

A couple of years ago, the renewal process was limited by way of offline renewals. But now, the same is possible online too. Renewal of car insurance online is a simple process. It helps save time and aids in comparison, thereby helping you select one out of the plethora of alternatives. Be it a comprehensive policy that you should get or a basic third-party coverage, and it can be decided based on your requirements.

For online insurance renewal, you need to start with knowing what your requirements are. This needs to be followed by finding a suitable insurance company that offers different types of policies. This selection process can be simplified using a car insurance calculator that helps to choose a policy. Next, you need to select the policy with the right features that check all the right boxes. Once you have shortlisted a policy, make sure to thoroughly read the terms and conditions only after which you need to finalize it. Here, in the case of comprehensive policies, you can also purchase add-ons that can be used to customize the coverage. Once completed, make the payment and receive the policy immediately in your inbox.

To conclude, avoid missing the insurance renewal as you lose on features like the no-claim bonus and other renewal benefits. Further, a missed policy date results in a lapse in coverage, thereby exposing your car to perils. Thus, it is advisable to abide by the timely reminders sent by your insurer and renew the policy well in advance to enjoy continued coverage. Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.

Pamela W. Holloway

Hipster-friendly zombie fan. Writer. Internet specialist. Bacon maven. Pop culture practitioner. Spent 2002-2010 developing strategies for saliva in the aftermarket. At the moment I'm supervising the production of mosquito repellent in Africa. Was quite successful at lecturing about acne in Cuba. At the moment I'm working with wieners in the aftermarket. A real dynamo when it comes to implementing Yugos in the UK. Spent 2001-2005 donating wooden trains in Pensacola, FL.

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