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✓4000+ Network Garages ✓24x7 Spot Assistance ✓Quick Claim Processing | Buy a Acko or Bajaj Allianz Car Insurance Cover Starting at ₹2094/year*

When acquiring a vehicle, the first step that every car owner must take is to purchase a car insurance. It serves as a financial safety net, shielding the car from an accident, natural catastrophe, theft, or vehicle damage, among other things. 

 

However, in order to obtain such benefits regularly, you must renew your car insurance coverage at the right time. If you fail to renew your car insurance in a timely manner, your insurance coverage will expire thereby putting your vehicle in danger and putting you in legal trouble. So if your car insurance  plan has expired, you cannot claim payment for damages or injuries if anything disastrous happens to your automobile or a third party in the event of an accident.


Since car insurance companies are providing car insurance online these days, you can easily make a purchase or go for car insurance renewal online in just a few seconds. Renewing a car insurance through Bajaj Markets will reward you with multiple benefits like an easy application process, customer care guidance, 24x7 emergency services, and so on.

Car Insurance Renewal Plans Available at Bajaj Markets

Several insurance companies are available on Bajaj Markets, allowing you to make a choice from multiple options. In order to find the best solution, you can compare them on the basis of their features and prices. 

Insurance Provider

Incurred Claim Ratio (2020-2021)

Starting Premium 

Check  Plans

HDFC ERGO Car Insurance

70.02%

₹2094

Bajaj Allianz Car Insurance

68.06%

₹2094

Acko Car Insurance

82.35%

₹2094

Disclaimer: The premium rates are only estimates. The exact premium you need to pay may vary depending on a variety of variables. Please check the current premium rates before purchasing your auto insurance coverage.

How to Renew Car Insurance Online

The procedure of renewing car insurance coverage has become easy and instant. You may now renew your car insurance online while sitting at home or in a restaurant. 

 

Here's a step-by-step approach to renew your vehicle insurance coverage.

 

  • Go to the official website or download the app of the insurance provider from whom you purchased you car insurance

  • Navigate to the "Car Insurance" section

  • Select 'Renew the Policy'

  • Provide all required information, such as current policy details, vehicle information, personal information, and so on

  • Choose the desired level of protection

  • Choose the appropriate covers (in case of a comprehensive car insurance plan)

  • Submit the required documentation and pay the cost of renewing your auto insurance

  • After the document verification, your new insurance policy will be authorised

How to Renew Four-wheeler Insurance for Old Cars

Here are the steps to follow to renew a four-wheeler insurance policy for old cars.

 

  • Visit the insurer's website or download their app to log in and renew your four-wheeler insurance for older vehicles

  • To start the renewal process, enter the registration number and provide some other details

  • There will be a variety of alternatives for purchasing the insurance plan. Choose the preferred plan, review the coverage, and submit your payment

  • Following that, the insurance company will send a new auto insurance policy for your old vehicle to your registered email ID

Features of Car Insurance Renewal 

  • Simple and Effective

Each industry is growing thanks to technological breakthroughs, and the automotive industry is no exception. To give their consumers a more streamlined experience in this digital age, auto insurance providers have also adopted new strategies. As a consequence, you may conveniently renew your car insurance online by visiting your insurer's website or getting their app from the Play store. Since you are not required to visit your auto insurance provider in person, it saves time and effort.

  • Protection Against Third-party Obligations

When the insured vehicle of third party results in property damage or third-party injuries, third-party liabilities are incurred. By covering your vehicle with third-party insurance, you may avoid facing financial hardships brought on by third-party obligations.

  • Coverage for Personal Accidents

You may benefit from personal accident cover by insuring your automobile. The policyholder receives reimbursement under this insurance in the event of physical injury, death, or disability while driving the vehicle.

  • Reliable Alternative

Car insurance firms give insight to customers when it comes to vehicle insurance renewals, making it easier for you to make an informed decision. Furthermore, the premium payment method is secure, and you will not face any fraudulent risks.

Benefits of Car Insurance Renewal

Following are the benefits of Car insurance renewal: 

  • Financial Safety

Having renewed car insurance will come in handy in the case of an accident involving other people or property. It will cover any expenditures incurred as a result of an accident, natural disaster, theft, and so on, as well as address any legal issues.

  • Policy and NCB (No Claim Bonus) Transfer Without Hassle

If you are thinking of changing your insurer or transferring your No-Claim Bonus (NCB), you can easily do it during the online car policy renewal process. You may make a comparison and choose the best car insurance renewal policy provider online in order to receive additional benefits. Along with your car insurance policy, they will assist you in transferring your NCB  to obtain a low-cost premium rate.

  • Safety from Legal Troubles 

According to the Motor Vehicle Act, of 1988, every car owner must have car insurance in order to drive their automobile on Indian roads. Failure to do so will cause you to pay hefty penalties. Hence, if your policy is about to expire, you must do your car insurance renewal online in order to avoid these difficulties. In addition, the insurer offers the option to renew expired car insurance, which may be utilised for policies that have already expired.

  • Roadside Assistance

If your car breaks down in the middle of the road, you can call your insurer to get emergency assistance. 

Car Insurance Add-On Covers

Here is the list of add-on covers that you can obtain in addition to your renewed car insurance coverage. 

  • Zero Depreciation

The zero depreciation add-on will aid you in recouping the cost of fixing depreciated parts on the vehicle. This is a popular add-on cover that is best purchased if replacing car parts is expensive. Under this coverage, you may claim the full amount of compensation without any reductions for depreciated car parts.

  • Roadside Assistance

To aid youself in situations requiring towing, battery jump starting, gasoline arrangements, minor repairs, alternative transportation, lodging, etc., you may purchase the roadside assistance add-on. If your automobile breaks down in the middle of the road and cannot be hauled to a garage, you can contact your insurer for assistance. The organisation will make certain that you receive the service at the earliest, and if necessary, the insurance will even provide you with lodging.

  • Return to Invoice

If your vehicle is lost or stolen, the return to invoice protection insurance ensures that you will get the full value of the vehicle (the on-road price of the car at the time of purchase).

  • No Claim Bonus (NCB)

An NCB is a discount provided to a policyholder by an insurance company for not filing any claims during the policy year. It is a discount that ranges from 20% to 50% (may vary across insurance companies) and is offered to the insured while doing the 4-wheeler insurance renewal. During renewal, the NCB discount is applied to the premium amount. Also, this discount is transferrable and can be used when purchasing a new vehicle. 

  • Consumable Cover

Consumables are things that need to be replaced frequently to keep your automobile running well which includes engine oil, AC gas, brake oil, washers, etc. However, the costs of repairing or replacing consumables are not covered by your auto insurance policy. Hence, you can take the consumable add-on to lessen your financial strain. 

  • Engine and Tyre Safety

The engine and tyres of an automobile are the most important components. With such an add-on, you may include these parts of your car in your insurance coverage and protect yourself against any future expenditures. As a result, in the event of a replacement or repair, the insurance policy will cover these costs. Internal elements such as the gearbox, engine, and transmission are also covered under this engine protection add-on

  • Key and Lock Replacement Cover

If you lose your car keys, you will be responsible for paying for new car keys as well as having your locks replaced. However, if you choose the lock and key replacement protection add-on, this cost can simply be covered by your four-wheeler insurance policy.

  • Personal Accident Add-on

If your car is driven by someone else, you may get optional personal accident insurance for any driver other than yourself. The coverage extends to any damage or loss sustained while accessing or vaulting the vehicle.

Essential Things To Consider During Car Insurance Renewal Process

To always stay insured, you must renew your car insurance coverage before it expires. However, there are a few things to keep in mind while renewing your car insurance:

 

  • Offered coverage in your car insurance policy is the foremost element that you should look for. 

  • When renewing your auto insurance, be careful to verify the amount insured and determine whether you need to raise it or not as the appropriate sum assured enhances your safety.

  • Check for add-ons to receive additional benefits.

  • Look for network garages that will assist you in seeking help in the event of emergencies.

  • Cashless claims is one of the most important factors that you should keep in your mind while renewing your policy as it eases the process.

Check Out Car Insurance Plans Available at Bajaj Markets

FAQs

  • ✔️Which is the cheapest car insurance renewal policy?

    In order to find an inexpensive car insurance renewal policy, you must do a comparison between the offered insurance plans by the different organisations. You can perform the comparison on the basis of their benefits and coverages.

     

  • ✔️Can I renew a car insurance after the expiry?

    Yes. You may renew your car insurance after its expiry. You can contact the insurer or visit its website to know the charges.

     

  • ✔️What is the grace period for renewing automobile insurance?

    Depending on the terms and conditions specified forth in the policy, the grace period for renewing a vehicle insurance coverage might range from 15 to 30 days.

     

  • ✔️Can I switch to a different insurer to renew my car insurance policy?

    Yes, you have the choice to switch vehicle insurance companies when you renew your policy.

     

  • ✔️Is it possible to renew my car insurance coverage after the grace period has expired?

    You won't be able to renew your existing plan if the grace period on your car insurance policy has already passed. You'll need to get new car insurance coverage.

     

  • ✔️Is it secure to renew a car insurance policy online?

    Yes, it is safe to renew a car insurance policy online. Moreover, it is the easiest method as it saves your time and effort.

  • ✔️How long does it take to purchase/renew car insurance?

    It will take just a few minutes. You are only required to choose an insurance policy and pay its applicable charges. Following that, your car insurance policy will be activated and the details will be sent to your registered email ID.

  • ✔️Do I get a grace period on my existing car insurance policy?

    An automobile insurance policy's grace period is typically between 15-30 days. However, it is subject to the terms and conditions of your insurance company's policy. 

     

  • ✔️What documents are required for policy renewal?

    Here is the list of necessary documents required for car insurance renewal.

    • Identity proof

    • Address proof

    • Driving license

    • Vehicle registration number

    • A copy of the car's registration certificate

    • Passport size photograph

     

  • ✔️On what characteristics does the policy premium depend upon renewal?

    The kind of automobile, its age, engine size, model, and claims history are only a few important variables that affect the renewal premium cost.