Whether you have a car or a bike, getting them insured is mandatory as per The Motor Vehicles Act. After all, motor insurance financially safeguards you against the expenses incurred in repairing the damage of your vehicle in case of an accident. The policy not only protects you and your vehicle but also the vehicle of another person in case you hit his vehicle while driving. Thus, motor insurance offers you much-needed financial cushioning and support.
Do you know, your car insurance is valid for one year and you are solely responsible to renew it before it expires? Yes, you must renew your car insurance before it expires to prevent the benefits of insurance from getting lapsed. However, you will require certain documents while renewing your motor insurance in order to complete the renewal process. If you are getting confused about what needs to be submitted by you to renew your car insurance policy, this article is worth a read. In this article, we are going to discuss a complete list of documents required at the time of motor insurance renewal.
Documents Required To Renew Your Car Insurance
The list of documents required for motor insurance renewal is issued by the Insurance Regulatory and Development Authority of India (IRDAI). These documents are common for both private and public sector insurance companies. Along with the policy renewal form, you are required to submit the following documents:
- PAN Card, Aadhar card or Passport
- Driving License
- Address Proof
- Recent photograph
- Car Registration Certificate
- Car Registration Number
- Pollution Check Certificate
- Old Motor Insurance Policy Number
At the time of renewal, you have the option to change your car insurance provider. According to the IRDAI, the owner of a vehicle can switch insurance companies either during or on completion of their existing insurance policy period. In case you want to change your insurance provider, and renew the policy, you will need to submit the following documents at the time of motor insurance renewal:
- Government ID Proof, like Aadhaar Card, driving license, PAN card, passport, etc.
- Address proof, such as passport, driving license, Aadhaar Card, PAN card
- Recent passport size photos
- Contact details such as your name, address, etc.
- Old vehicle insurance policy number
- Driving license information
- A copy of the vehicles registration certificate
Points to Remember When Renewing Vehicle Insurance
At the time of vehicle insurance renewal, you must keep the following points in mind.
- Renew your policy early
- Remember the policy expiry date to avoid driving uninsured
- Search online and compare policies before renewal
- You may be able to find a better policy while searching online
- Go for one that offers a greater degree of coverage at reasonable costs
- Use of your No Claim Bonus (NCB) for a discount on the premium
These are the documents required to be submitted during the motor insurance renewal process. It is important to note that you need to check all the documents whether they are in order before submitting everything finally. Always remember that car insurance is not a choice, but necessary under the law. Renewing it is very important as it protects your vehicle from any unwanted accident or health hazard.
The best part is that insurance companies have streamlined the renewal process by digitizing the entire process. You are able to find different car insurance policy providers online and pick one that is best suited to your vehicle and budget. However, in any case, do not go for a policy just because it is cheaper. Assess carefully the important factors, such as coverage offered, things that are excluded, before switching your insurer.