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Know why the renewal of vehicle insurance on time important?

Friday - October 11, 2019 9:36 am , Category : WTN SPECIAL
Now the insurance of the vehicle renewed easily
Now the insurance of the vehicle renewed easily

Renew vehicle insurance on time to avoid problems

OCT 11 (WTN) - As you are aware that after the new Motor Vehicle Act is implemented; you should now have all the documents related to the vehicle. Because if you do not have any documents related to the vehicle, then you can be fined heavily. While driving license and RC are usually kept with everyone, it has been observed that most people do not keep the insurance documents of the vehicle with them. This is why because they do not consider it necessary to renew the vehicle insurance after its being expired.

For your information, let us know that the insurance of the vehicle is very important for you. Because if your vehicle has any kind of accident, then the third party insurance of the vehicle helps you. But it has been seen that people take very negligent in getting the insurance of the vehicle renewed. But for your information, let us know that it is now necessary to renew the insurance of the vehicle. At the same time, it has become very easy to renew the insurance of the vehicle, and you do not have to worry too much about it.

For your information, let us know that renewing third-party liability component is now much easier than before. Not only this, the policy is also issued immediately on renewing it. At the same time, there is no inspection in any such case. Let you know that it was difficult for the people to renew the insurance earlier, because for the policy, agents of insurance companies used to go to the customer for inspection of the vehicle themselves, and it took a lot of time.

But for your information, let us know that if you get an insurance renewal done within 90 days, then the insurance companies hardly do the inspection of the vehicle. Although it is not the case that not all companies provide inspections for insurance, some companies still operate on the self-concept model. But at the same time, you do not have to wait for the agent of the insurance company, because now you can upload the video of the vehicle for inspection on the official website of the insurance companies or on the app. Insurance companies value your car with the help of uploaded videos. And on the same basis, your car insurance is renewed.

For your information, let us know that last year the Supreme Court had made long term third party liability insurance mandatory. In fact, it was seen that about one-third of the vehicles on the roads of the country were running without insurance. Two-wheeler drivers were the most negligent in getting insurance renewed; as they did not renew their insurance after purchasing the vehicle. In view of all this negligence, the Insurance Regulatory and Development Authority (IRDA) issued a directive that long term third party liability insurance of all two wheelers and three years of four wheelers would be mandatory while purchasing a vehicle.

As we told you earlier that some time before it took a long time to get third party insurance, because the insurance agent renewed the insurance after observing the car. But now the insurance companies have made the process of renewing the insurance of vehicles easier. Now to renew the insurance of the vehicle, if the process of renewal is done within 90 days of the insurance policy’s being lapsed, most insurance companies do not get the vehicle inspected through their agent.

For your information, let us know that if you renew your insurance within 90 days of the insurance policy lapse, then it is beneficial for you. Actually, if you renew the insurance within 90 days of the insurance policy’s being lapsed, you are entitled to the no clam bonus accumulated so far. But as you delay in getting insurance renewal, you are not entitled to ‘no clam bonus’.

At the same time, know that you may have to pay more due to delay in getting insurance renewal. For your information, let us know that some insurance companies do not extend useful add-on services such as zero depreciation cover or engine protection cover to vehicles which are uninsured for a long period. So we recommend that you should renew your car insurance on time so that any type of traffic challan can be invoked on you, at the same time you can get many benefits from the insurance company by getting insurance renewed on time.