It is mandatory in India to have valid motor insurance on your vehicle at all times. Therefore, not renewing your insurance policy can have far-reaching consequences.
First and foremost, driving an uninsured vehicle is a criminal offence. You may have to pay a fine or face other legal consequences as per the Motor Vehicles Act, 1988. Secondly, it can potentially put your financial health at risk. In the event of an unfortunate accident, you will have to bear the entire cost of repair and damages from your own pocket depending on the damage caused.
It is, therefore, very important to keep your motor insurance policy valid at all times. To make sure you don't miss out on getting your insurance renewed on time, here are a few tips that you can follow:
Set reminders- Setting reminders either on your phone or calendar can help you keep track of when your policy expires.
Compare offers- You can compare premiums online to select the best deal. This can help you save on your insurance costs.
Pay attention to notifications- Your insurance provider may send different types of notifications or reminders urging you to renew your policy.
Lastly, you may also take advantage of automated renewal services offered by some insurers. This enables them to renew your policy automatically when the current policy ends, ensuring you don't miss out on the renewal.
I hope this helps!
Motor Vehicles Act, 1988
How to ensure Smooth Car Insurance Renewal