Few Things You Need To Know About Car Insurance

By / 10 months ago / Auto / No Comments
Few Things You Need To Know About Car Insurance

After a long time of saving and lots of struggle, you’ve finally managed to buy your car. Everything is set for you and your family to enjoy a long ride. But as we all know, buying a car is almost like investing in real estate. All the terms and aspects of profit or loss, convenience or damage in case of a car are as similar to that of your apartment. A car is almost like a family member. You take the weekend off to wash your car, buy new decorative accessories to make your car look nice, you paint your car, you get worried about the dents, you make customizations, take pride on your car and what not. So, it is always necessary to ensure the safety of your car to protect it, think about its betterment  so as to avoid financial setbacks in case of an unforeseen situation.

Getting a car insurance is easy nowadays. You don’t have to book appointments for insurance agent of different companies to choose the most beneficial one. You can now go online and search for all the companies from which you can get a car insurance, compare the most beneficial one for you and then select it. Pay the premium online and policy arrives instantly in your mailbox and the hard copy reaches your doorstep within days. Thus, you can easily insure your car and yourself from any financial setbacks that can be caused by your car.

But you have to be careful while renewing your insurance policy once the existing one has ended.  So, here is a guide that will help you and give you an outline about renewing your car insurance without any hassle.

1.Documents required for renewing car insurance Offline- There are a number of things you need to keep in mind while renewing your car insurance. Here are the documents and paper work that will be required for renewing your car insurance.

There are documents required for three phases.

While getting a car insurance quote

Current declaration page– If you already have an insurance for your car, you need to provide your insurance proofs and declarations to the insurance company who is providing you with the quote. This  will also help them to give you a proper quote considering the type of insurance you are having for your car and the things that it covers.

Driver’s license- Although it is not compulsory but some companies ask for a copy of your driver’s license. Others may just ask for the number for verification purposes.

Cancelled Cheque– You can set up an ECS mandate for your insurance payments to make sure your premiums are submitted on time. Or else you need to provide the company with a cancelled cheque so that they can get your account details for withdrawing money.

Paperwork and documents the company should provide you-

Insurance policy- The insurance company should provide you with a printed insurance policy where all the things that the insurance covers should be properly mentioned.

Proof of insurance– You should be provided with a paperwork about the proof of your insurance renewal and that will be the only document that will help you to make any claims in future.

2.Renew your insurance online

There are hundreds of online platforms who compare thousands of car insurance policies according to your needs and convenience. All you need to do is, get on any such platform, enter your vehicle registration number along with other details like the name of the person whose name has been registered while buying the car and his or her contact details such as phone number and email id. These platforms will compare among various insurance policies of various companies and will send you the quote for the best one that suits your need. Then, you can buy an insurance policy online with the given payment options according to your convenience.

  1. Change a Plan in Existing Car Insurance Plan

Most car insurance companies allow you to cancel your insurance policy and you have the provision of getting a refund after deduction of an amount for the period till which the cover was provided.

All you need to do is, give a convincing and a valid reason for your existing insurer and a find a new insurer to buy your car insurance from. Although you have to keep a few things in mind

  1. You should make sure that everything regarding the cancellation is documented for keeping proper records and avoiding confusions in the future.
  2. You should make sure your new insurance is active before you cancel your old one.
  3. You should make sure that your old insurance is not on retroactive mode. You need to ask your old insurer and if that is the case, you need to provide with proper proof about the initiation of your new insurance policy.

Although, you can always change your existing car insurance plan under the same insurer anytime just by talking to the agent and giving applications. Your old policy will be cancelled and the new policy will be active. However, some companies may penalize you with a substantial penalty for the same.  

 

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