Every sort of automobile insurance policy has an expiration date and a car insurance policy renewal date. Once the policy term has expired, you will be unable to file a claim until the policy is renewed. If you do not renew it before the expiry date, you can easily renew it on this page.
If you continue to operate your vehicle without renewing its auto insurance, you may face legal and financial consequences. If it is discovered that you were driving a vehicle with an expired car insurance coverage during an accident or collision, it will be regarded as a chargeable offence.
Other downsides of an expired automobile insurance policy include:
- Legal Violation
All vehicles on the road are required to have a valid automobile insurance policy. If you fail to renew your automobile insurance policy before it expires, your coverage becomes void. Furthermore, if you are caught driving with an expired vehicle insurance policy, you may face legal consequences.
- Coverage lapse
When your car insurance policy expires, so do your coverage advantages. It can result in significant financial difficulties in the event of an accident or third-party liability, as the insurance company will not compensate for any damages.
- The loss of the No Claim Bonus
To receive the NCB, you must renew your four-wheeler insurance coverage on an own-damage basis, on time. Every vehicle insurance typically provides an NCB ranging from 5% to 50% for not filing a claim throughout the policy term. You can get this concession when you renew your insurance, but if you don’t renew it before the expiry date, you’ll forfeit your NCB. * Standard T&C Apply
- Increased Car Insurance Premiums
You may have to pay a higher rate if you renew your expired auto insurance coverage after its expiry date. When your policy expires, you lose your no-claim incentive and may lose other concessions as well. Both these variables lead to increased premiums. Thus, missing the policy renewal, whether by mistake or on purpose, may not work in your favour because it incurs an additional auto insurance price while contacting Bajaj car insurance renewal.
- What to Do If Your Auto Insurance Policy Expires
If you do your Bajaj four-wheeler insurance renewal coverage before it expires, you can do it online. It’s similar to purchasing a new car insurance coverage. Here’s a simple primer to help you understand what’s at stake and what you can do to fix it:
- Contact your auto insurance company as soon as you realise your policy has expired.
- At the time of renewal, you can choose another auto insurance carrier for expanded coverage or renew your current one based on your needs.
- When renewing your car insurance, you can also choose an add-on policy.
- If your coverage has lapsed, the insurer will schedule another survey of your car. You can also use the self-inspection option provided by some insurers online to make the process of renewing expired insurance easier.
- If the vehicle inspection is satisfactory, you can purchase a new auto insurance coverage that will be issued to you immediately.
6.Documents Needed to Renew an Expired Auto Insurance Policy
When you want to do a car insurance policy renewal for an expired policy, keep these documents on available to guarantee a smooth transaction. The following are some important documents to retain when dealing with an expired vehicle insurance policy:
- Certificate of Registration (RC)
- A duplicate of the expired auto insurance policy
- The RTO address for the insured vehicle
- Vehicle information, such as model number, city, date of registration, insurance name, and so on.
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