Renewing a car insurance policy has become very simple nowadays. However, there are some important points that you must keep in mind when you look to renew the cover. This will help you to not only find the best deal, but it will also help you to cover your vehicle in the best possible manner. Take a look at this article to find out more about the essential car insurance renewal tips.

Important points to note when renewing your car plan

  1. Type of cover: There are two types of motor insurance covers – third party and comprehensive. You should know which type of cover to get. If you have a third party plan but feel it is insufficient, opt for a comprehensive cover when you renew.
  2. Riders: You can add or remove riders from your car insurance plan when you renew car insurance online. Choose the riders carefully. You may not need every rider that you needed before. In that case, discard the ones that are unhelpful. On the other hand, if you feel you need some additional ones, add them to your plan. This will help you to get the ideal cover for the policy term.
  3. Inclusions: Go over the list of inclusions. If you find some major covers are not included, speak to your insurance provider about it. If you can add them with the help of riders, do so or look for a different plan.
  4. Exclusions: There are some permanent car insurance exclusions that you must always be aware of. Go over the list once again. It is always better to be aware of the exclusions, whether you are buying the plan or renewing it.
  5. Deductible: At the time of a car insurance renewal, do remember to check the deductible amount. The higher the deductible, the lower your premium will be. So work out a feasible deductible amount and adjust your premium accordingly.
  6. NCB: Calculate your no claim bonus with accuracy when you renew car insurance online. If you have an accumulated NCB of two or three years, make sure you get an accurate discount. This will help you get the renewed car insurance plan at the correct price.
  7. IDV: The IDV plays a critical role in a car insurance renewal. The IDV determines the approximate current value of the vehicle, which in turn helps to establish its insurance cover. So make sure the IDV is calculated properly when you renew your car insurance plan.
  8. Claim process: You can make a claim for vehicle insurance online. However, you must be well aware of the process, the documentation, etc. So read the claim process once again when you renew the plan to stay updated with the new rules and regulations if any.
  9. Available discounts: Many times, insurance companies offer discounts on car insurance renewals. Keep an eye out for such deals and discounts. Also, you may be eligible for some discounts separately. For instance, if you install an anti-theft device in your car, you will stand to get a discount. So check out the available discounts before you renew the plan.
  10. An option of comparison: You are not obligated to continue with your existing cover. You can compare the options and if you find a better plan, you can make a switch. So do compare before you renew and save some money in the process.

In conclusion

Keep these tips in mind and you will be able to make an excellent choice when you renew vehicle insurance online. Do not blindly renew your existing plan without considering the aforementioned points. Once you do this, you will end up with an appropriate cover for your vehicle for the new policy period.