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Renewal of Car Insurance After Due Date

The renewal of car insurance after its due date is of utmost importance as it ensures that your car stays financially protected during any unforeseen events. Moreover, as per the Motor Vehicles Act of 1988, you must have a valid car insurance policy to drive your car on Indian roads. Hence, you must renew your car insurance on time to avoid being caught without valid car insurance and being penalised.

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What Happens if Car Insurance Expires

Every car insurance policy comes with an expiration date. The policy expiration could be one year from the date of activation or even 3 years, depending on the policy time period chosen by you. As per the New Motor Vehicles Act, 2019, all vehicle owners are required to have at least third-party insurance if they wish to drive their cars legally on Indian roads.

If you are caught driving your car without valid insurance, you may be fined up to ₹2,000 to ₹4,000 or may even be imprisoned. Further, if you are involved in an accident and do not have insurance, you will be liable to pay for damages caused to the third party. So it’s vital to renew car insurance before expiry.

Three Categories Concerning Expired Car Insurance

Let us explore the three categories of car insurance renewal after expiry:

  • Renew Expired Car Insurance Immediately After Expiry

If your car insurance plan has expired, your insurer will most likely send you a notification through SMS or email informing the same. If you renew your insurance within a day or two after expiry, you would not have to face any negative consequences or extra fees. You will also be eligible for using your No Claim Bonus.

  • Renew Expired Car Insurance Within Grace Period

Generally, insurance companies offer a ‘grace period’ of 30 days. You can renew your car insurance plan within the grace period offered by your company without any negative consequences or additional fees.

  • Renew Expired Car Insurance After the Grace Period Has Expired

If you renew expired car insurance after the grace period has passed, you might have to purchase a brand new car insurance plan. Moreover, your car insurance premiums could also go up. Any accumulated No Claim Bonus will not be available if you renew your car insurance after the expiry of the grace period.

Things to Do When Car Insurance Policy Has Expired

If you have failed to renew expired car insurance, you will need to take the following steps:

  • Stop Driving Your Vehicle

This is the first and foremost thing you must do once your motor insurance plan expires. Since third party liability insurance is mandatory for every vehicle, driving your car without one is illegal in India. So, make sure that you do not drive your uninsured four-wheeler on roads to commute or even run errands.

  • Review Your Old Insurance

If your car insurance plan has expired, take some time out to review your old policy. Try to understand if it was sufficient for you. In case it was, you can renew the same policy. However, if it wasn't, do your research, check the add-on covers offered by various insurers, and choose a plan that suits you. 

  • Contact Your Car Insurer

Get in touch with your insurance provider and inform them that you wish to renew an expired car insurance policy. If you want the process to be quick and seamless, go for the online process. Ascertain that your car is available for any inspection that the insurance company may conduct.

Can a Policy be Renewed From a Different Insurance Provider

Yes, you can choose to renew your car insurance policy from a different insurer at the time of renewal. Fortunately, you can also carry forward your No Claim Bonus to the new insurance provider. However, it is recommended that you buy a new insurance renewal policy before your existing plan expires. It will avoid any legal or financial issues that may arise out of expired car insurance.

To Conclude

There are multiple risks associated with having an expired car insurance policy. These include risks of failure to comply with the motor laws of India as well as the liabilities that may arise out of an unfortunate accident. Above all, if you get injured in a car accident whilst your car is not insured, you cannot access the benefits of the Personal Accident Cover as well. You must, therefore, be mindful of your car insurance expiry date and ensure that you renew the policy on time.

If you are looking for an adequate car insurance plan, check out the range of motor insurance policies available on Bajaj Markets. You can compare different plans and buy the best-suited car insurance for you and your vehicle.

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FAQs on What Happens if Car Insurance Expires

✔️What is the grace period for the renewal of car insurance after the due date?

Insurance providers offer a grace period to renew car insurance policies after the due date. This window varies from insurer to insurer and may range between 30-90 days.

✔️Can my car insurance be renewed with a different insurance provider?

Yes. You can renew your car insurance plan with a different insurance company.

✔️Can I carry forward the accumulated benefits if I switch the insurance provider?

Yes. You can carry your No Claim Bonus forward even if you change your insurance provider.

✔️Can I renew my car insurance online?

Yes. You can renew your car insurance online.

✔️Can I drive my car with an expired car insurance plan?

No. You cannot drive your vehicle on Indian roads with an expired car insurance policy.