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How to Renew Your Car Insurance Online

By Finserv MARKETS - Feb 23,2019
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Steps to Renew Car Insurance

In India today, an increasing number of people are able to afford family cars to zip from one place to the next. While the convenience of cars can’t be denied, it is important that we do what we can to look after our vehicles. 

This is why the importance of owning a vehicle insurance policy simply cannot be overstated. Besides the safety net that an insurance policy provides, driving without an insurance policy or even an expired one, is punishable by law under the Motor Vehicles Act. 

Thankfully, companies like Finserv MARKETS have made it incredibly easy to renew your car insurance online.

Let’s take a look at 4 simple steps to renew your car insurance online:

Step 1 – Get a Quote

There is a handy online car insurance calculator which you can use to better understand what kind of premiums you would be required to pay and what amount your car will be covered for. To get the quote, you need to input your car registration number, your mobile number and follow the subsequent steps.

Step 2 – Fill in Your Details

The insurance premium will depend on a number of details, including the make and model of your car, your age, the age of the vehicle, your history of claims and your place of residence. All you need to do is fill in this information for us to assess your details. If you’re simply trying to renew an existing policy that you have with us, these details will be filled in automatically.

Step 3 – Make Payment

With the policy ready, all that’s left is for you to pay the premium amount. The payments for your car insurance renewal can be made via internet banking, credit or debit cards, or even online wallets. Once the payment is processed, you should receive a soft copy of the policy in your e-mail inbox.

Step 4 – Hit the Accelerator

Your policy has now been issued, so you can go ahead and keep the hard copy we’ve sent. If you ever need to print a duplicate, you will easily find your insurance policy and all the related documents on the customer portal. 

If there’s a discrepancy or error, you can get the changes made by logging in to the portal. Armed with your insurance, you can continue to enjoy driving your car without any worries.

Things to Keep in Mind When Renewing Car Insurance

Here are a few things that you need to remember when renewing car insurance online.


  • Do online research


When the car insurance plan renewal date nears, reevaluate the benefits offered under your policy. In case you are unsatisfied with the coverage provided, switch to a different insurer. Look for a provider that offers comprehensive car insurance that best suits your needs. The online reviews of the company will help you determine their credibility and customer satisfaction rate. Shortlist a few insurers before making a final decision.


  • Compare different plans online


Compare the car insurance features and benefits of the insurers that you have shortlisted. This will help you find relevant car insurance with needed services and facilities. You can compare features such as premiums charged, coverage provided, exclusions in the plan, claim settlement ratio, and more. 


  • Choose essential add-on covers


Every insurer offers add-on covers on comprehensive car insurance to enhance the coverage provided. Research and choose add-ons that are utmost essential to you and come in handy in case of emergencies. Some add-ons that you can consider buying over your existing comprehensive car insurance are as follows –

  • Zero Depreciation Cover – With this cover, the insurer will not consider the depreciation rate of your vehicle during reimbursement.
  • Return of Invoice Cover – This cover comes in handy in case of vehicle theft or loss incurred during natural or man-made disasters. So, when you claim on your car insurance, the insurer will reimburse the ex-showroom price of the car.
  • No Claim Bonus Protection Cover – With a no claim bonus protection cover, you can make at least one claim on your car insurance without losing the NCB benefits earned.
  • Roadside Assistance Cover – If the car experiences a breakdown anytime and anywhere, this cover allows to avail facilities such as towing, fuel, battery jump start, and minor repairs.

Over to You!

Finserv MARKETS makes the entire process of car insurance online renewal extremely easy and hassle-free. So, are you ready to give your car the protection it deserves? Head over to our website and renew car insurance policy, today!

Finserv MARKETS, from the house of Bajaj Finserv, is an exclusive online supermarket for all your personal and financial needs. We understand that every individual is different and thus when you plan to achieve your life goals or shop for the gadget of your dreams, we believe in helping you Make it Happen in a few simple clicks. Simple and fast loan application processes, seamless, hassle-free claim-settlements, no cost EMIs, 4 hours product delivery and numerous other benefits. Loans, Insurance, Investment and an exclusive EMI store, all under one roof – anytime, anywhere!


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Bajaj Finserv Direct Limited ("BFDL"), erstwhile Bajaj Financial Holdings Limited is a registered corporate agent of Bajaj Allianz Life Insurance Company Limited and Bajaj Allianz General Insurance Company Limited under the IRDAI composite registration number CA0551 valid till 10-Apr-2021. BFDL also renders services to Bajaj Finance Limited (‘BFL’) and Bajaj Housing Finance Limited (‘BHFL’) (referred hereinafter as ‘Lending Partner’) in sourcing of customers, providing preliminary credit support activities, fulfilment services and post-acquisition customer services related to lending business. Registered Office: Bajaj Auto Limited Complex, Mumbai – Pune Road, Akurdi, Pune – 411 035 CIN: U65923PN2014PLC150522