Bajaj car insurance renewal guide by Finserv Markets

1. CAR INSURANCE RENEWAL GUIDE Steps to Renew Your Car Insurance Online In India today, an increasing number of people are able to afford family cars to zip from one place to the next. While the convenience of cars can’t be denied, it is important that we do what we can to look after our vehicles. This is why the importance of owning a vehicle insurance policy simply cannot be overstated. Besides the safety net that an insurance policy provides, driving without an insurance policy or even an expired one, is punishable by law under the Motor Vehicles Act. Thankfully, companies like Finserv Markets have made it incredibly easy to renew your car insurance online. Let’s take a look at the simple steps you need to follow to renew car insurance online and continue to drive safely: Step 1 – Get a Quote There is a handy online car insurance calculator which you can use to better understand what kind of premiums you would be required to pay and what amount your car will be covered for. To get the quote, you need to input your car registration number, your mobile number and follow the subsequent steps. Step 2 – Fill in Your Details The insurance premium will depend on a number of details, including the make and model of your car, your age, the age of the vehicle, your history of claims and your place of residence. All you need to do is fill in this information for us to assess your details. If you’re simply trying to renew an existing policy that you have with us, these details will be filled in automatically. Step 3 – Payment With the policy ready, all that’s left is for you to pay the premium amount. The payments for your car insurance renewal can be made via internet banking, credit or debit cards, or even online wallets. Once the payment is processed, you should receive a soft copy of the policy in your e-mail inbox. Step 4 – Hit the Accelerator Your policy has now been issued, so you can go ahead and keep the hard copy we’ve sent. If you ever need to print a duplicate, you will easily find your insurance policy and all the related documents on the customer portal. If there’s a discrepancy or error, you can get make the changes made by logging in to the portal. Armed with your insurance, you can continue to enjoy driving your car without any worries. Finserv Markets makes the entire process of car insurance online renewal extremely easy and hassle- free. So, are you ready to give your car the protection it deserves? Head over to our website and renew your car insurance policy, today! Head over to our website to get more tips on how to renew car insurance online and get a free car insurance quote today! How to Renew Your Car Insurance Policy in 5 Easy Steps? 1

2. In the age of the internet, everything has become more convenient and the same goes for Car Insurance online renewal. Gone are the days, when you had to visit your insurance provider’s branch or schedule an appointment with your insurance agent. Now you can renew your Car Insurance online in a few simple steps. Here’s how to do it: – STEP 1: Choose an insurance provider – When renewing your Car Insurance policy, you have the freedom to opt for the same or different Car Insurance provider in India. Hence, Car Insurance renewal can be a great opportunity for you to switch policies offering better / enhanced features and wider coverage. Look around and compare Car Insurance plans from different providers based on factors such as coverage and premium charged. With Finserv Markets you can renew your car insurance online within a few minutes without any hassles. STEP 2: Choose your plan – If you have a third party Car Insurance, you can consider opting for a comprehensive Car Insurance policy that provides you with a better coverage against accidents, calamities, and theft. If needed, you can also strengthen your insurance coverage by opting for Add-on Covers such as Zero Depreciation, NCB Protection, On-Road Assistance, Engine and Electronic Circuit Cover, Key Replacement, Accident Cover and more. However, you must choose Add-on Covers judiciously as they directly affect your Car Insurance premium. The more add-on covers you buy, the higher will be your premium. STEP 3: Fill the Car Insurance renewal form – Once you have chosen an insurance provider, you need to visit the respective website and fill up the online Car Insurance renewal form. Fill in your name and contact details along with your car details such as the make-model-variant, registration number, age, claims history, and your location. If you are renewing your Car Insurance from the same provider, these details may be auto-populated after logging onto the website. STEP 4: Make the payment – After filling the Car Insurance form, your application will be assessed by the insurer. Once the assessment is complete, you can proceed with the payment via different options such as Debit Card, Net Banking, Credit Cards, Digital Wallets etc. On successful payment, you will receive your Car Insurance policy on your registered email ID within a span of minutes. STEP 5: Review the policy documents – Once you receive the soft copy of your Car Insurance policy, verify and validate its contents to ensure that all the details are in place. If you notice any discrepancies regarding your car details or the policy’s coverage, talk to your insurance provider immediately to get the necessary modifications made. This is absolutely critical as the policy terms and conditions are the basis on which the claim settlement will be carried out. When it comes to Car Insurance renewal, timing is everything. If you fail to renew your policy on time you will not only lose the insurance protection but may also end up losing your NCB (No Claim Bonus) which, is nothing but the bonus/discount on the premium that you get in the subsequent policy renewal in case no claim was made during the policy period. Also, it is a lengthy process, the vehicle has to undergo inspection, documentation etc. 2

3. So if your Car Insurance renewal date is approaching, make sure to renew it on time. Finserv Markets offers a simple 5 step Car Insurance renewal which can be completed in a matter of minutes. If you want to renew your Car Insurance with us, you can do it in a matter of minutes with great ease. Why Should You Not Miss Your Car Insurance Renewal Date? There could be numerous reasons due to which you end up missing the renewal of your car insurance. There could be an emergency at home or a hectic work routine, which could occupy your time and you might miss out on the date of your car insurance renewal. However, it is imperative that you not skip the renewal of your policy. Your car insurance plan is a yearly contract, which is supposed to be renewed by the due date. If you fail to renew it there will be an insurance lapse, and any type of claim you make after the expiry of your policy will not be entertained by the insurance company. In case of an accident or a third-party liability, you will have to bear all the expenses yourself. Consequences of lapse of your car insurance policy If you fail to renew your car insurance plan, you might have to face the following consequences:  If the insurance lapse duration is too long, the renewal of the policy could be rejected.  If renewal is permitted by the insurance provider, there could be a high penalty or a fine.  You might have to purchase a new policy, which can only be possible after an inspection of the car.  You might have to pay a higher amount of premium on the new policy.  You will lose the annual No Claim Bonus.  You will face legal implication for driving a car without an insurance policy.  Financial loss due to an unforeseen accident. What steps should you take to renew your If you have failed to renew your policy on the due date, you need to verify if there is a grace period provided for the renewal. Many insurance companies provide a grace period, which allows you to pay the car insurance premium and renew the policy even after the due date. The grace period allows you to renew the policy without having to pay penalties or late fee. This grace period can be anywhere between three days to one month, and it varies from company to company. If there is no grace period or the same has expired, you need to contact the insurance company immediately to figure out an ideal solution. 3

4. If you have to buy a new policy, you can compare car insurance quotes and shortlist a plan based on the best premium amount and coverage offered. The insurance company will carry out an inspection of your car at the earliest. Additionally, you will have to arrange all policy documents, car documents, and keep the details of your past claims handy. You can conveniently buy car insurance online after conducting research on a trusted platform like Finserv Markets. 4