Common Mistakes To Avoid When Renewing Your Car Insurance Policy

Common Mistakes To Avoid When Renewing Your Car Insurance Policy

The insurance industry has benefited from India’s internet and smartphone revolution by making buying and renewing a car policy online simple.

Digital-first and traditional insurers’ willingness to adapt to the online ecosystem have made insurance convenient, especially for online car insurance purchases and renewals.

Car insurance mistakes:

This section discusses car insurance red flags. After reading this, avoid the mistakes, think logically, and stay insured with an insurance cover that works for you. They are not in any particular order.

Mistake 1: skipping basic research 

Buying an insurance policy online is like buying anything else online. Online shopping requires basic research. Would you buy a phone from an unknown website or a trusted one? Trust matters, right?

You can check if an online car insurer is certified before buying or getting your car insurance renewal online. Search the website for the Insurance Regulatory and Development Authority of India (IRDAI) registration and CIN numbers. Check the insurer’s social media profiles for authenticity, brand ethos, and customer reviews. Avoid last-minute car insurance purchases. Buy or renew car insurance online without panicking and after doing at least your basic research. #

Mistake 2: not comparing policies 

Not comparing yourself to others is a good life motto. Not comparing car insurance quotes and inclusions can result in inadequate coverage. For a good deal, always compare policies. Analyse while doing so. Don’t buy an inexpensive comprehensive car insurance policy. Check the cover too. 

Low-cost policies may have lower IDVs, and fewer features and coverage. However, it isn’t always the case. Digital-first insurers offer low-cost policies with high coverage, better customer support, and claim settlement. Comparing plans can help you find affordable car insurance with the proper coverage. You can find all this information by downloading a car insurance app.

Mistake 3: minimal coverage:

Insurance protects against misfortune. Car insurance serves another purpose—legal compliance. A third-party liability policy is required for four-wheelers (TLP). This basic plan offers more concessions than the comprehensive plan.

TLP will satisfy legal requirements but not insurance needs. Own Damage coverage is not included. It will help if you damage someone else’s car but not yours. A comprehensive plan is more expensive than a TLP. Isn’t that insurance’s purpose? Car damage financial assistance? Consider it. *

Mistake 4: resisting the online world

Some people resist change. Being rigid can also be harmful. Online policies are affordable and easier to buy. Online shopping has many benefits. No paperwork, anytime and anywhere purchases are notable advantages.

Call the online insurer’s customer support team if you’re uncomfortable with the online world. They’ll assist you by providing the necessary information. You could ask an online expert to help you buy insurance online. Learning new things is always possible. Online policy purchases are easy. You can also get insurance from your phone by downloading a car insurance app.

Ensuring you thoroughly study the online car insurance policy marketplace will protect your car in the long run.

Get insured anytime, anywhere! Check out Bajaj Allianz General Insurance website to learn more and download the app now.

*Standard T&C Apply

# Visit the official website of IRDAI for further details.

Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.