How to Renew Lapsed Car Insurance

In this busy life, it is not surprising to forget a few important things like renewing your car insurance policy.

If your car insurance has expired, you legally cannot drive your four wheeler on the roads. If the cops catch you, they may levy a mammoth fine or even seize your vehicle. Actually there are many negative consequences of not renewing the car insurance on time. Also, renewing a lapsed car insurance is a tougher job as compared to getting a new one. Here is what should be done in case of an expired car insurance:

Contact your insurer ASAP

What is important is, as soon as you get to know that you have expired your four wheeler insurance, immediately contact your car insurer. If you have just expired your policy, you may get a grace period and it may get renewed without paying an extra cost or penalty in an easy process. Some companies offer grace periods while some don’t. The grace period can range from 3 days to as many as 30 days. But with this, some companies do levy a late fee or penalty for using the grace period. However, if much time has already passed and you are out of your grace period, you may have to bear a lengthy process and also a penalty. In both the cases contact your insurer immediately and ask what has to be done without wasting any more time.

Keep the documents handy

You must keep important car related documents handy to immediately pass on to the insurer when asked. The documents for renewing your lapsed car insurance policy may include car RC or a copy of your previous insurance policy. Also fetch the documents regarding all the past claims if you have taken. This is necessary as only after looking into your previous claims history they will decide whether you are eligible for a No Claim Bonus or NCB for your new four wheeler insurance policy. After this you may also expect a visit from the insurance company for an inspection. Only after their approval you will able to get the insurance.

The documents like where your vehicle is registered, RTO address, registration date, car manufacturer details, make or the model number of your four wheeler etc. may also be needed.

Check online

Your insurer may have an easy process of a lapsed car insurance renewal policy on its online portal. You must check their website and search for an expired car insurance renewal policy process section. Read out the renewal process and procedures carefully and ascertain whether you can do that online. This will save you from the lengthy manual process and tiresome paper work. Make a list of the required documents, scan them and keep it ready. They may ask you to fill up the form online and submit the scanned documents.

In an online way, the only thing you have to make sure is that you don’t make any error while filling important fields like vehicle number, policy number etc. Because in case of any mismatch, you may have to go through the entire process again.

Buy the policy immediately

As soon as you are done with the four wheeler inspection and when your documents are accepted and verified, you will receive a quote from your insurance agent. Make a purchase as soon as possible after you are done with all these processes to get the insurance papers in your hands at the earliest.

We all do understand that renewing one’s car insurance in time is extremely important. While it is human to forget sometimes, we can always take necessary reminder measures. Insurance companies send reminder emails and SMSs before the expiry date. Try to renew as soon you see one of those in your inbox. Procrastination is unnecessary. You can always set Google reminders or reminders in your phone too.