When you buy a new four-wheeler, the first thing you need to do is buy an appropriate insurance plan. It should meet your requirements. Driving without car insurance, like driving without a license, is a punishable offence. You must always hold a valid insurance policy. At the same time, renewing the plan timely is also essential. While many aim for the no claim bonus and seek discount on the premiums, you can make changes to the policy only once a year.
Following are some changes you can make during the car insurance renewal and experience better services –
- Change of plan
If you are unhappy with the current policy and the coverages offered, then you can change the, while doing car policy renewal. There are two kinds of insurance policies – third-party liability and comprehensive plan. While you would be paying a lesser premium in the third-party, it increases for comprehensive plans. It is at the time of renewal you can change the plans.
- Additional riders
If you have a comprehensive plan, you can revise them for aligning them with your needs. Insurers keep introducing different add-on covers that improve the protection and coverage you get. Generally, you need to pay a specific amount for each add-on cover that you buy. Adding a bouquet of add-on covers such as personal accident cover, zero depreciation, etc. should be considered during car insurance renewal.
- Addition or removal of vehicles
If you buy a new vehicle, you can add it to your ongoing four-wheeler policy while renewing them. Similarly, if you sell the car, get it removed from the list of vehicles insured if multiple cars are insured. Addition and removal of vehicles can be done anytime. It is still better to review the plan during the renewal and make necessary changes.
- Change of primary driver
Another minor change you can make to the policy at the time of car policy renewal is the name of the primary driver. For instance, if you are ageing and you want your son or daughter to be named as the primary driver, you can do so while renewing the plan annually.
If you have been paying the premiums frequently, for years, you get a benefit called the no claim bonus. It is a reward for going claim-free for a year. However, if you believe you have been a decent policyholder, you can contact the insurer and ask for additional discounts on the add-on covers or add more vehicles to plan. Most of the time, the insurer obliges.
Nowadays, it is also possible to do car insurance renewal online. Go to the insurer’s website and follow the necessary steps for renewal. You receive the soft copy of the policy as soon as the payment gets done. Your insurer sends the hard copy on the registered address.