Why should a person get his/her car insurance renewed? To answer this question, first and foremost what has to be kept in mind is that is it is illegal to drive a car without a valid insurance policy. Car insurance protects your prized possession against any kind of physical damage caused due to any natural or man-made disaster. Do not worry about finding the right policy as you can check the different policies online and purchase car insurance online.
Different insurance companies provide different policies that are sure to meet the requirements of any individual. The process of renewing car insurance has become very easy and it can be done from the comfort of your drawing room as well. The factors that a person needs to keep in mind while renewing the car insurance are:
• There are different terms and conditions that govern the renewing of insurance policy. The conditions may differ from one insurer to the other. Grace period ranging from 3-30 days may be provided by some insurance companies to people so that they can pay the required amount and renew the policy.
• Some insurance companies may not even provide grace periods. The policy lapses in such a scenario.
• Companies offering grace periods may charge some fees from the person seeking renewal.
• A person who is has a habit of paying the car insurance premium during the grace period may be penalized by the insurance company.
• Furthermore, making late payments regularly may prove to be detrimental to both the insurer and also the person making the payments.
• Renewing a policy during the grace period requires a person to pay all the dues that are pending.
Not having a valid car insurance policy will make you ineligible to drive on the roads of India as it is it mandated by the law in our country. Some of the points that are to be kept in mind when you want to renew an expired car insurance policy are:
• You may have to pay the higher premium amount and may also miss out on some of the benefits that you had been previously enjoying when you renew a lapsed car insurance policy.
• You may not even be able to renew your policy if had lapsed for a considerable amount of time. The specific time-period may vary from insurer to insurer.
• A person who wants to renew a lapsed policy may have to pay fines for all the days that have gone by without the premium being paid.
• Even if an insurance provider lets you to renew the lapsed policy, it may demand vehicular inspection, and you may also lose the right to claim a bonus.
These are the factors that have to be kept in mind while renewing car insurance. So it is better to pay car insurance online instead of facing so many hassles.
Different insurance companies provide different policies that are sure to meet the requirements of any individual. The process of renewing car insurance has become very easy and it can be done from the comfort of your drawing room as well. The factors that a person needs to keep in mind while renewing the car insurance are:
• There are different terms and conditions that govern the renewing of insurance policy. The conditions may differ from one insurer to the other. Grace period ranging from 3-30 days may be provided by some insurance companies to people so that they can pay the required amount and renew the policy.
• Some insurance companies may not even provide grace periods. The policy lapses in such a scenario.
• Companies offering grace periods may charge some fees from the person seeking renewal.
• A person who is has a habit of paying the car insurance premium during the grace period may be penalized by the insurance company.
• Furthermore, making late payments regularly may prove to be detrimental to both the insurer and also the person making the payments.
• Renewing a policy during the grace period requires a person to pay all the dues that are pending.
Not having a valid car insurance policy will make you ineligible to drive on the roads of India as it is it mandated by the law in our country. Some of the points that are to be kept in mind when you want to renew an expired car insurance policy are:
• You may have to pay the higher premium amount and may also miss out on some of the benefits that you had been previously enjoying when you renew a lapsed car insurance policy.
• You may not even be able to renew your policy if had lapsed for a considerable amount of time. The specific time-period may vary from insurer to insurer.
• A person who wants to renew a lapsed policy may have to pay fines for all the days that have gone by without the premium being paid.
• Even if an insurance provider lets you to renew the lapsed policy, it may demand vehicular inspection, and you may also lose the right to claim a bonus.
These are the factors that have to be kept in mind while renewing car insurance. So it is better to pay car insurance online instead of facing so many hassles.
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