Car insurance New Update : If your vehicle insurance is over? Follow this method will not have to pay this extra charge

Car insurance Big News: If you are found to be driving without insurance, you can be fined Rs 2,000 or imprisoned for up to three months for the first offense. In such a situation, if an accident happens or you face any other damage, then you will have to bear the cost of the damage caused to the car.

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Many vehicle owners forget to renew their vehicle insurance before it expires. You must already know that according to the Motor Vehicles Act, it is necessary to have third party insurance before driving a vehicle on the roads. This means that your vehicle should be insured at all times and you should keep in mind the renewal date.

If you have forgotten to renew your vehicle insurance, the cover will no longer be effective. In such a situation, if an accident happens or you face any other damage, then you will have to bear the cost of the damage caused to the car. If you are found to be driving without insurance, you can be fined Rs 2,000 or imprisoned for up to three months for the first offense. At the same time, for repeated offenses, you will be fined Rs 4,000 or imprisoned up to three months. Hence, it is advised that you avoid driving your vehicle after your insurance cover expires.

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How to renew the expired insurance policy, you should know

When the insurance is over, the companies inspect the vehicle when the insurance is over. That’s why it’s also important that you re-inspect the cover before you start it again. If you have missed renewing your policy, contact your insurer immediately. If you have purchased the policy through an insurance agent, you can contact him/her for further processing. If you have purchased your policy online, you can visit your insurer’s website, fill in the information.

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Renew within 90 days for

No Claim Bonus No Claim Bonus (NCB) is an important element of your comprehensive motor insurance policy, which helps in reducing your premium to a great extent. The NCB exemption starts from 20 per cent and gradually increases to 50 per cent over the years. You can get the benefit of your NCB if you renew the policy within 90-days after the expiry of the policy. You will not have to pay much for this. Since NCB can help you reduce the insurance premium by up to 50 per cent, it is extremely important that you renew your policy within this period and enjoy the discount.

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