Car Insurance Renewal - Why it is important to do it on time?
Getting your car insured is mandatory by law for every car owner. Failing to get your car insured or renewing your existing car insurance policy is penalized by the road traffic authorities. Hence, up-to-date car insurance is a necessity if you want to drive your car without being hassled by the authorities.
The validity of your car insurance policy is up to a certain period only. This period depends on the date on which the policy was purchased. After this period is over, you need to renew the car insurance policy in order to be eligible for all the coverage and benefits hat is offers. The renewal has to be done before the policy expires or at least by the end of the validity.
While renewing you must look for ways in which you can land a better deal. Also the cost of renewal tends to become higher if your car does not meet the basic requirements of the car insurance policy at the time of renewal. This makes the renewal dates vitally important to be remembered. You can renew your car insurance policy online as well as offline, regardless of your initial mode of purchase.
Failing to renew your car insurance policy leads to some of the difficulties mentioned below:
If the policy has lapsed for a considerable period of time due to non-renewal then you may be required to buy a new car insurance policy in order to comply with the law.
You may even be required to pay a fine depending on the days for which the car was not insured.
Driving a car without any kind of coverage is highly risky and unwise. You may end up paying all the damages that may be caused due to an accident without any reprieve.
Therefore it is wise to renew your car insurance policy on time to avoid having to face troubles in the future. Also planning a renewal of your car insurance policy before hand gives you sufficient time to make changes to the policy if any required.
Video: Self-help services with the HDFC ERGO Mobile App
Shambhav has had it with Babbar’s laid back attitude and he has something to say about how the HDFC ERGO Mobile App can help you #TakeItEasy as far as non-life insurance is concerned. #TakeItEasyWithMobile