When is the Right Time to Change Car Insurance Company? 

One of the most important expenses that you incur if you are a car owner is the car insurance premium. Many individuals feel that looking out for different insurance plans can be a difficult and time-consuming task, and hence avoid looking for a new and better plan. However, this does not have to be the case.

If you are unhappy with your current car insurance plan, you must consider changing your car insurance company. So, when is the best time to change car insurance? Let us take a look at some reasons why you should consider switching car insurance and the ways to do it.

Why Should You Switch Your Car Insurance Company? 

A car insurance policy is mandatory to drive your vehicle legally. While it can be convenient to just renew your existing car insurance policy, sometimes, it can be worth it to take a look at the various plans available in the market and compare them. This way, you can check if there is a plan that is available at a better rate, and/or with more benefits.

Here are some reasons you should change car insurance company:

  • Better Benefit

If you find an insurance provider that is offering better benefits compared to your current insurance plan, and at a similar cost, you must consider switching your car insurance company.

  • Range of Network Garages

If your existing car insurance company does not have a wide range of network garages with cashless facilities, you can consider looking for a company that offers a better network of garages in your vicinity that can offer cashless repairs and replacement.

  • Increase in Premium

If your car insurance company increases the premium of your policy during renewal, you can consider switching to a different insurance company that may offer a similar policy at a lower premium.

  • Not Enough Add-On Covers

Car insurance providers offer various add-on covers to enhance the coverage of a comprehensive car insurance plan. If you feel that your existing insurance provider does not offer enough add-on covers, or if they do not offer a specific add-on that you are looking for, then it might be wise to switch your car insurance company.

  • Unsatisfactory Customer Service

The customer service experience plays a very important role in car insurance. You expect your insurance provider to provide immediate assistance in case you need any help regarding your insurance claim. So, if you are not satisfied with the customer service offered by your current insurer, it is time to make the switch.

Ways of Switching Your Insurance Provider 

So, if you have decided to change your car insurance company, you must ensure that you pick the right policy that will suit your needs. With so many options available in the market, this can seem like a difficult task. Here are some easy steps you can follow to make an informed decision while switching your car insurance company:

  • Compare Car Insurance Plans Online

This is the first thing you must do once you have decided to switch your car insurance company. You must compare the different plans available online, and check the benefits and coverage offered by them along with their premiums. This way you can decide which plan is suitable for you.

  • Check the Insurer’s Claim Settlement Ratio

Once you have shortlisted a few insurance providers, check the claim settlement ratio for each insurer and choose one with a higher claim settlement ratio. The claim settlement ratio is the total number of claims settled by the insurer against the total number of claims received by them.

  • Check the Insurer’s Claim Settlement Process

Make sure that you choose an insurance company that offers a quick and hassle-free claim settlement process, as this will make it easier for you to file your claims and get them settled quickly.

  • Check for 24/7 Assistance

Ensure that the insurance company that you choose offers 24/7 customer assistance as you never know when you might need help with an insurance claim.

  • Check the Add-On Covers Offered

While switching car insurance companies, make sure that the company you have chosen offers all the car insurance add-on covers that you want to add to your policy so that you can make the most of your policy and extend its scope of coverage.

  • Check the Number of Network Garages 

You can avail the cashless benefit at network garages and get your car repaired here without having to pay for the expenses out of pocket. So, check the number of network garages associated with the insurance provider that you have chosen. The more the number of network garages, the better for you.


Once you decide on your new car insurance provider, inform your current insurance company on time, as they may levy some cancellation charges if you are transferring your car insurance before the time of car insurance renewal. And after you have called your existing insurer, ensure that you secure your car with a new policy at the earliest so you can drive your car on Indian roads legally without worrying about traffic fines and penalties.

So, if you are considering changing your car insurance plan, take a look at the car insurance policies available at Bajaj MARKETS, which come with various benefits like a hassle-free application process, quick claim settlement, dedicated customer service, and much more.

Check Out Car Insurance Plans Available at Bajaj MARKETS


FAQs on When Should You Change Your Car Insurance Company

  • ✔️When is the best time to switch car insurance?

    Some of the situations when you should consider switching your car insurance are:

    • When your car insurance plan is due for renewal

    • When you buy a new car

    • When you add any additional security features to your car

  • ✔️Is it necessary to have a car insurance policy?

    Yes. In India, as per the Motor Vehicles Act of 1988, it is mandatory for car owners to purchase a car insurance policy to drive the vehicle legally on Indian roads.

  • ✔️How can I buy car insurance online on Bajaj MARKETS?

    Yes. You can buy a car insurance policy online on the Bajaj MARKETS official website or on our insurance app.

  • ✔️Can I purchase a car insurance policy online without a valid driving licence?

    Yes. You can purchase a car insurance policy online without a valid driving licence.

  • ✔️What is a network garage in car insurance?

    A network garage is a repair/service station where you can avail the cashless facility under your car insurance plan. Here, you can get your damaged vehicle repaired without worrying about paying for the expenses. The repair/replacement bills will be settled directly by your insurance provider.