Since the time the insurance companies have gone digital, it is convenient and hassle-free to renew and buy a motor insurance policy online. Now you do not have to visit different insurance providers physically or wait for an insurance agent to come and explain details of various motor insurance policies. Just select an insurer as per your requirements and buy or renew your vehicle insurance in just a few clicks. To make your task easier, we are here to discuss the steps to follow to renew a motor insurance policy online.
How to Renew Motor Insurance Policy Online:
Since it is illegal to ply a vehicle without an insurance policy in India, renew your motor insurance policy on time. If you are worried about how to do that, do not worry. Listed below are some easy steps to renew motor insurance online:
Remember the Expiry Date of Your Motor Insurance Policy: As mentioned above, keep track of the motor insurance renewal date. Set a reminder on your calendar or do anything to remember this date because renewing an expired policy is a much more difficult task. The advantage of renewing a car insurance policy on time or before its expiry are many and some of which are - you stay worry-free and you do not lose your NCB.
Generally, the insurance companies do their bit by sending you a reminder SMS and email nearing the expiry date of your vehicle insurance policy. So, if you do not remember the renewal date of your vehicle insurance, keep track of such kinds of SMS or emails.
Visit An Insurer’s Website to Renew Policy: The next step is to renew your motor insurance policy by visiting and logging in to your insurer’s website. However, if you want to change the insurer, you can do that as well at the time of the motor insurance policy renewal. It is best to research for a new policy to explore your best options.
Note: In order to renew your vehicle insurance policy online, you do not need to do any kind of paperwork.
While renewing your insurance policy online on the insurer’s website, you will have two options - ‘Existing User’ and ‘New User’. Select a relevant option. Now, you need to follow the instructions and fill in the required details. If you want to add some rider to your motor insurance policy, you can select that in this step only and then proceed further. The insurer then verifies all the details provided by you and if it finds the details correct, you will be allowed to proceed further.
Make Payments Online: After filling in the details and proceeding further, you have to pay the premium online for renewing your motor insurance policy. Almost all insurers offer the option of net banking, debit card or credit card, UPI payment, etc. to pay.
Wait for Your Insurer to Send the Acknowledgement: After a successful transaction, you have to wait for the insurer to send the acknowledgement. The insurance company sends an SMS as an acknowledgement of the successful transaction and an email to confirm the renewal of your motor insurance policy.
In this way, you can renew your vehicle insurance policy in just a few clicks.
Benefits of Renewing Motor Insurance Policy Online:
Here are the benefits of renewing a vehicle insurance policy online:
Quick and Easy: With the digitization of the insurance industry, it has become really easy for all to buy or renew an insurance policy online. Now you can renew your vehicle insurance policy in just a few clicks.
You Do Not Have to Do Any Additional Paperwork: Whether you renew your motor insurance policy through an agent or you go to your insurer by yourself for the same, you have to do a lot of paperwork in both cases. However, while renewing your motor insurance policy online, you have to do very minimal paperwork.
Instant Renewal of the Policy: As soon as you fill in all the required details in the online vehicle renewal form on your insurer’s website correctly, and pay the premium online, your policy will be renewed. You will get an email related to your policy renewal instantly.
No Break in Coverage: Unlike traditional methods of policy renewal, you do not have to wait for an agent to come or spare time to go to the insurer, an online renewal can be done anytime and from anywhere. This means if you keep an eye on your policy insurance date or do not overlook the messages sent by your insurer to renew the policy on time, you can renew it before it gets expired without waiting for anyone. With digitisation in the insurance sector, people tend to renew their car insurance policies on time.
You Do Not Lose Your ‘No Claim Bonus’: When you renew your motor insurance policy on time, you do not lose your NCB or No Claim Bonus. This NCB further works as a discount on your policy renewal premium.
Conclusion
Through the aforementioned simple steps, you can renew your vehicle insurance policy online without any hassle. Apart from that, there are many advantages of renewing a motor insurance policy online.
