When you buy a food product, you obviously check both the manufacturing dates and expiry dates, to make sure the product is safe to consume. Let's say you buy a pack of organic juice that will expire in 3 days. In this case, you will consume the juice within three days and go for a new one even if the pack you have bought has some left in it. Consumables items are not recommended to intake after the expiry date as it could be hazardous to health. Right?
The same rule applies to motor insurance. A motor insurance's validity period is one year. The insurance policy loses its value after the expiration date, and driving on the roads with expired insurance policy is a punishable offence. It is, therefore, important to renew the policy every year before the due date. Policy renewal after the policy has expired involves a series of steps that need to be followed.
Here's a quick guide on how to get the renewal process in a right way, when your car insurance policy has expired.
Get in Touch With Your Agent or Insurance Provider
As soon as your policy expires, contact your insurer if you wish to continue with the same insurance company. If you want to go for a new policy from a different insurance company, you need to reach the new insurer. Then, the insurance company will guide you through the process of renewing your policy.
In addition, you can speak to an expert by raising a query through online portal or a local advisor or agent who will assist you in renewing the policy. They will instruct you on the steps to renew your policy with your same old insurer or with a different insurer.
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Get Your Car Inspected
In order to get a comprehensive or own-damage car insurance policy after it has expired , you have to get your car inspected as the previous policy will have expired. The insurer will send a surveyor who will inspect the condition of the car.
Basically, if your car has any damages like a major dent or say a crack in the windshield, the surveyor will make notes of these points in his survey report. All these existing damages will not get covered under your new car insurance policy. Whenever there is a claim in the future, your insurer will not pay for these existing damages. In some situations an insurer may even refuse to renew your policy. In cases where an insurer has refused renewal, you will have to try with another insurer.
Purchase A New Policy
After the car is being inspected and found to be in proper condition, the insurer will approve the renewal and provide a premium quotation. You can then make the payment and renew your car insurance. This needs to be done within 24 hours of the inspection, as the survey inspection report on basis of which the insurance is approved is valid for only 24 hours.
Don't Drive Your Car Until You Get A New Policy
According to the Motor Vehicles Act, 1988, driving a motor vehicle without insurance in a public place is a legal violation and punishable offence.
In addition, if the car faces any damage while driving,without valid insurance, you will be responsible for the repair expenses.
If you are caught driving your car without insurance, a fine will be imposed. You may also face legal complications. Therefore, it would be best for you not to use your car till your policy is renewed.
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Set A Reminder For Future Renewals
Whenever you renew the policy post-expiration, you will have to have your car inspected every time, and you may be charged an inspection fee by some insurers as well. Insurance companies usually send reminder messages to help you keep track of the expiration date so that you can renew the policy on time. On the other hand, you can also add reminders to your calendar to stay on a safer side.
If your insurance policy is about to expire, make sure you renew it on time - whether it's from your old insurance company or a different one. Also, keep the above-mentioned points in mind before renewing your policy. It's crucial to renew your policy on time to avoid any hassles.