As per Indian motor laws, car insurance is mandatory for all car owners. If caught driving without a valid motor insurance policy, the traffic police will impose hefty fines. However, some people forget to renew their policy on time, resulting in a lapsed car insurance policy. Read the article below to understand more about a lapsed car insurance policy and how to renew one.
Read more
A car insurance policy is an annual contract that needs to be renewed by its due date (and time), as mentioned in the policy document. An insurance lapse occurs when one fails to renew the policy by the due date.
After the car insurance renewal date expires, any type of claim made isn’t entertained by the insurance company as the policyholder does not hold a valid insurance policy. Thus, after an insurance lapse, in case of an accident, one has to bear the entire cost from his/her own pocket.
Moreover, if caught driving with a lapsed car insurance policy, you may also have to pay heavy traffic fines.
There are several negative consequences that you might face if you hold an expired car insurance policy. Here is a list of repercussions that you might face if you have a lapsed policy-
Looking at the above-mentioned consequences, it is a good idea to renew your car insurance policy before the expiry date. Furthermore, you can check the below-mentioned steps to renew expired car insurance policy.
You May Also Read: How to Get a Pollution Under Control Certificate for Cars Online?
Online car insurance renewal is the easiest and hassle-free method available. You can start by searching on Google and choosing a plan per your needs and budget. Also, you can visit the official website of Policybazaar Insurance Brokers Limited and compare multiple online car insurance plans offered by different insurers in one place.
Usually, car insurance companies send alerts or reminders through SMS, emails, or even calls to their customers to renew the policy on time. Online car insurance renewal is also advisable, as you can get a digitally signed policy immediately. Ideally, you should set reminders on mobile phones or calendars rather than depending on the insurance companies to send renewal alerts.
As a car owner, you must have a valid four-wheeler insurance policy. Also, you must avoid driving with a lapsed or expired car insurance policy, as it can put you in hurdles. If you are applying for a fresh car insurance policy, then compare different plans offered by insurers and select a trustworthy & reliable insurance provider.
The extreme heat and constant heat wave warnings have made
Read moreScenarios like hit-and-run accidents or purchasing a second-hand
Read moreGetting your car insurance claim settled is no longer a hassle
Read moreHave you recently purchased a car insurance policy for your new
Read moreIn layman's terms, the IDV full form is the Insured Declared Value
Read moreIt doesn’t matter if you are an excellent driver or take your car out only once in a few months; your vehicle must
Read moreLosing your car insurance documents can be daunting. In such a state of affairs, the first thing that comes to your
Read moreSometimes, you may face situations when you need car insurance or vehicle owner details but cannot readily access
Read moreAn integral part of selling a car for both the buyer and the seller is ensuring a successful car insurance transfer
Read moreWith an aim to phase out unfit and polluting vehicles, the Government of India has rolled out Vehicle Scrappage
Read more#Rs 2094/- per annum is the price for third-party motor insurance for private cars (non-commercial) of not more than 1000cc
*Savings are based on the comparison between the highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB. Actual time for transaction may vary subject to additional data requirements and operational processes.
##Claim Assurance Program: Pick-up and drop facility available in 1400+ select network garages. On-ground workshop team available in select workshops. Repair warranty on parts at the sole discretion of insurance companies. Dedicated Claims Manager. 24x7 Claim Assistance.
Insurance
Calculators
*Savings are based on the comparison between the highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB. Actual time for transaction may vary subject to additional data requirements and operational processes.
Policybazaar Insurance Brokers Private Limited CIN: U74999HR2014PTC053454 Registered Office - Plot No.119, Sector - 44, Gurugram - 122001, Haryana Tel no. : 0124-4218302 Email ID: enquiry@policybazaar.com
Policybazaar is registered as a Composite Broker | Registration No. 742, Registration Code No. IRDA/ DB 797/ 19, Valid till 09/06/2027, License category- Composite Broker
Visitors are hereby informed that their information submitted on the website may be shared with insurers.Product information is authentic and solely based on the information received from the insurers.
© Copyright 2008-2024 policybazaar.com. All Rights Reserved.