Useful tips to help you renew your car insurance policy the smart way
According to the Motor Vehicles Act 1988, it is mandatory for an individual to get their car insured. However, with so many insurance companies in the market, many vehicle owners get confused when selecting one among the many.
Now, it is also important to give an equal amount of time and effort during the car insurance renewal process. It is not enough to simply go ahead with the policy you have at hand. If your car insurance plan is about to expire soon, read on for tips on car insurance renewal.
Compare policies We tend to compare everything from clothes to electronics before zeroing in on the product most suitable to us. Select suitable add-ons Renewal is the best to consider adding what you missed out on before. Make sure to review your current policy to see if you already have any add-on covers attached to it. In case you don’t, you can opt in for additional coverage during your car insurance renewal process.
Assess the IDV The Insured Declared Value (IDV) is the financial value of the insured vehicle in the market. Raise the voluntary deductible The deductible is an amount you will have to pay before your claim is reimbursed by the policy provider.
Claim the NCB Finally, do not forget to take advantage of the no-claim bonus (NCB) during your motor insurance renewal process if you did not raise any claims in the past year. The NCB can be claimed even if you switch between insurance providers.
We hope this article helps you understand the Useful tips to renew your car insurance policy the smart way Drive safe and take care.
For more details on car insurance renewal
Visit Here: https://www.naviinsurance.com/four-wheeler-insurance/
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