By A car insurance plan is a must-have financial safeguard to cover losses due to damages and collisions. It is mandatory compliance required by the Motor Vehicles Act and thus, all four-wheeler owners need to invest in a car insurance plan.
A car insurance policy is essentially available in two types — a third-party policy that is a minimum requirement, and a comprehensive policy that can be purchased as an optional upgrade. Both policies offer different coverage helping you stay free of financial, as well as mental stress due to accidents and repairs. Since every policy is valid for a limited duration, it is important to renew it on time to ensure continued insurance coverage. For that reason, the insurance company requires certain documents. These documents are mentioned on the policy document or the company’s website.
The list of documents that you may be required to submit depends on whether the car insurance renewal is with the same company or with a different insurer. Here is the list of documents you need to have with yourself in different situations for the renewal of your car insurance policy.
Documents required for car insurance renewal with the same insurer
Renewing your car insurance policy with the same insurance company is a straightforward process. The documents required at this time are minimal since the insurer already has necessary vehicle-related, as well as personal documents. To renew your existing policy with the same insurer, you need to provide details of your existing insurance plan such as the policy number. This helps the insurer load necessary details at the time of renewal. Changes to this information are also possible using the endorsement facility. For these changes, supporting documents like identity proof, vehicle registration certificate, etc. will be required to support the change. * Standard T&C Apply
Documents required for renewing your policy with a different insurer
A policyholder can change the insurance company for various reasons. For some, it can be due to high premiums while others may look to migrate for better policy features. Here are the documents that are required at the time of such a change:
- Proof of identity (Passport/Ration Card/Aadhaar/Voter’s ID).
- Proof of address (Voter’s ID Card/Passport/Aadhaar).
- Copy of driving licence.
- Registration certificate of your car.
- Copy of previous insurance certificate.
- Pollution certificate of the vehicle
* Standard T&C Apply
Further, accumulated benefits like the no-claim bonus (NCB) from your previous insurance company can also be transferred to your new insurance company. For that, you will require an NCB transfer certificate from your former insurance company. Remember that a third party car insurance policy does not have any NCB benefits. * Standard T&C Apply
Documents required for renewal of a lapsed insurance policy
An expired motor insurance policy takes away all the benefits that you might have accrued. Hence, you shouldn’t miss the renewal date. The accrued NCB benefits under a comprehensive policy lapse after 90 days have elapsed from the policy expiry date. So, make sure to renew your policy before such duration to take advantage of renewal benefits.
The renewal of a lapsed policy is similar to getting a fresh insurance cover with identity proof, address proof, details of vehicle registration and your expired car insurance policy forms a list of documents. Additionally, a vehicle inspection is also required if renewing the policy after the due date. * Standard T&C Apply
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.
