Why Online Car Insurance Renewal is the Best Option Right Now?

When you renew your car insurance policy, you can either go with the offline or the online renewal method. However, renewing your car policy online can be a lot more beneficial than the offline approach. Read further to know why online car insurance renewal is beneficial and better than renewing offline.

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Benefits of Online Car Insurance Renewal

If you are confused about whether to renew your motor insurance policy offline or online, here are some benefits of online four-wheeler insurance renewal:

Easy Comparison

When you renew your car insurance online, you get the benefit of comparing and buying motor insurance plans from different insurers in the comfort of your home. This is not the case with offline purchases as it is practically difficult to visit every insurer separately and compare their motor insurance plans. Thus, you may end up purchasing a car policy at a higher premium.

But when it comes to the online renewal approach, you can compare car plans on insurance broker websites like Policybazaar.com and then purchase the one that best suits your requirements.

Low-Cost Plans

When you renew four-wheeler insurance online, you also get motor insurance plans at a cost lower than what you usually get offline. The reason behind this is the operational costs that online insurers save as they do not have to invest in middlemen. Contrary to this, when you renew your car policy offline, you mostly do it via a middleman, which leads to an increase in the cost of car insurance.

Moreover, almost every online insurance company offers multiple discounts to their policyholders, which can further reduce the cost of your motor insurance policy.

Assured Safety

Buying or renewing motor insurance online is also a safer option than the offline renewal approach. The procedure for online car insurance renewal is transparent and thus, any chances of fraud are eliminated. Besides, premium payment is also made online through a secure payment gateway.

The situation is not the same offline as middlemen may be involved, which reduces the transparency. Moreover, there can be instances of fraud if you pay the premium amount to the middlemen. Thus, renewing your car insurance policy from the official website of an IRDAI-regulated insurance company can guarantee you complete authenticity, and safety.

Zero Paperwork

In a world where everything is paperless, carrying multiple documents to renew your motor insurance offline can be pretty cumbersome. However, when you opt for online four-wheeler insurance renewal from Policybazaar.com, you can buy or renew a car policy with zero paperwork. All you need to do is fill in a few details of your car and last car policy, choose the desired renewal plan, and pay the premium instantly via online payment mode.

Transfer of No Claim Bonus

NCB or No Claim Bonus is a reward you get for not raising a claim during a policy tenure. This NCB can be transferred from one insurer to another. By renewing your car insurance policy online, you can easily transfer your No Claim Bonus discount in no time.

Almost every online insurer allows you to transfer your NCB without any hassle. However, under the offline four-wheeler insurance renewal method, it may take longer to transfer your NCB from one insurer to the other.

Easy Timely Renewal

By renewing your motor insurance policy online, you can also save your car policy from getting lapsed. Most online insurance companies send regular updates and reminders to their policyholders to renew their policy before time. This can help you in the timely renewal of your existing four-wheeler insurance policy.

However, this is not possible in an offline approach as you are yourself required to keep track of your policy expiry date and sometimes, you may forget to renew your car insurance policy on time.

How to Renew Car Insurance Online?

If you are wondering, how you can renew your car insurance policy online without much effort and in just a few minutes, you can do so from Policybazaar.com. All you need to do is visit the ‘Car Insurance’ page, and enter your car number & details of your existing insurance. Compare and select the plan that you wish to buy, pay the premium amount and your online car insurance renewal will be complete instantly.

You will receive your renewal policy documents in your registered email, which you can also get printed for further use.

Renewing Car Insurance on Time

The most important aspect of motor insurance is to renew car insurance on time as an expired car policy may not be beneficial for you in many ways. Firstly, it is illegal to drive a car with a lapsed car insurance policy in India. It will be counted as a traffic rule violation and you may end up paying heavy traffic fines.

Secondly, any claim you raise on an expired car insurance policy will get rejected by the insurer. Thus, to successfully raise a claim and further protect your car from damages, you should renew your car policy on time.

Wrapping Up!

When you buy anything online, you have multiple options to choose from. Similar is the case while renewing car insurance online as you can choose the best car plan by comparing them online. Moreover, an online four-wheeler insurance policy renewal is also a less cumbersome process and can be done with just a few clicks. You also get the benefit of 24*7 online customer service, which you can avail of without physically visiting the insurer.

Written By: PolicyBazaar - Updated: 11 May 2022
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