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Renew your car insurance? Here are some smart tips to get the best deal!

Renew your car insurance?  Here are some smart tips to get the best deal!

Buying a car is one thing, but maintaining it is a much bigger task. We are all well aware of how dangerous roads can be; and who would not be insured against such strange possible dangers? Whether it’s negligence, carelessness or sheer bad luck, it could be your bad day and if you haven’t already, it’s high time to renew your auto insurance policy.

Why would you renew?

The idea of ​​insurance is to protect you from financial loss, so it becomes an absolute necessity in the case of cars. Here are three basic reasons why you should renew your policy right away:

It is required by law

According to the motorcycle laws of India, it is mandatory that every car is covered under a valid car insurance policy car insurance policy with a minimum of third-party liability cover. If you drive an uninsured car, it is considered illegal in India and you will be subject to a heavy fine. If you get caught today; get ready to take ₹2,000 out of your pocket, and if it’s your second time, it’ll be 4,000.

Continues to cover the costs of damage

If you have renewed insurance, any loss or damage arising from your car will be covered by the policy, as financial liability is covered by your motor insurer. * Whether it concerns damage due to errors by third parties or personal accidents, a sum cover always comes at the right time. A dependency during a crisis, rather. †

*Standard terms and conditions apply

Prevents premium increase

Taking a break before renewing will increase your insurance premium. Buying a new policy from scratch gets expensive and the insurance company considers you a careless driver. To add to your grief, your accumulated NCB (No Claim Bonus) will be lost, so prepare to say goodbye to discounts. †

*Visit IRDAI official website for more details

Who in their right mind would want to commit an offense by not renewing their auto insurance? If you’re still reading, be sure to protect your vehicle with auto insurance at the earliest. To help you out, here are some tips that can get you the best deal:

Compare and renew online.

Read and compare. This is the must-do that will make your experience hassle-free and uncomplicated. It’s you who know what’s best for your car and if it only takes 2 minutes online, I can tell you; the time is worth investing in.

Extensive benefits with add-ons.

When you renew, you can include additional benefits such as zero-debit coverage, consumables coverage, roadside assistance, transfer benefits and more to make your policy more airtight.* So look closely and get the best deal.

*Standard terms and conditions apply

Check the network of cashless garages.

Renew your policy with a car insurance company with an extensive network of cashless garages. These garages are spread across the country and their accessibility is a blessing for the insured. Who doesn’t love a free repair in the nearest garage? †

*Standard terms and conditions apply

Choose sufficient IDV (Insured Declared Value)

IDV refers to the value of your car at a given time. During the renewal, the insurance company determines the IDV of the car and the premium is determined accordingly. So it is important to understand accurately which company is the best fit for you. †

*Standard terms and conditions apply

Best NCB Discount (No Claim Bonus)

The NCB is a reward given by an insurance company to an insured for failing to make claims during a policy year. It is often in the form of a discount ranging between 20%-50%* offered on the premium before a policy renewal. It is transferable and so the insured must look out for the company that makes a profitable discount calculation. †

*Visit IRDAI official website for more details

Prevent decay

A mistake in you renew car insurance you will not only get a fine, but you will also end up in the bad books of your insurance company. If problems are suspected, the insurance company will be all the more careful and examine your car before issuing a warning about a new renewal. Not to mention, it will be heavy on the pocket.

Conclusion: Well, it’s clear why you should renew your auto insurance right away if you haven’t already. With the right insurance you choose to make your car a lasting asset and when it comes to making choices, it is essential to choose the best insurer.

Insurance is the subject of application. For more information about benefits, exclusions, limitations, terms and conditions, please read the sales brochure/policy wording carefully before closing a sale.

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