Have you forgotten your car insurance renewal like quite a few policyholders? It could be either due to sheer negligence or you being over-occupied. Either way, you must have to renew car insurance at the earliest, so that you are not vulnerable to financial hazards and other consequences that come along. It is as important as your vehicle registration in California.
If you want to renew car insurance online, it is quite a simple affair. But, being aware of a few aspects of a car insurance policy will help you choose a policy that better suits your needs or budget. Here are a few points that you must consider before the policy renewal.
Type of Plan:
You can either buy a third-party liability policy or a comprehensive plan during the policy renewal. Each of them is for different needs. While a third-party policy is lighter on the pockets, it provides minimal coverage. A comprehensive plan, on the other hand, provides you with a greater deal of coverage including your own car damage coverage but at a bit higher premium. You must decide which policy would cater to your needs and then choose the same.
Tip: For your own car, a Comprehensive Car Insurance Policy is always a better deal, else all damages for your vehicle would pinch a lot during car repair in California.
Add-Ons:
Though it is not compulsory to purchase an add-on for your policy, it is better to look at the different ones on offer. Paying a small premium, you can secure better and wider coverage for your car with add-ons. The most popular ones include the Zero Depreciation cover, NCB cover, Invoice Protection cover and Engine Protect cover.
Tip: Opting for a zero-depreciation cover for your own vehicle is better, even if it costs a little higher. Also, those residing in locations that are prone to water-logging must opt for Engine Protect Cover.
Check the network of cashless garages
Before purchasing the policy, you can reach out to the insurer to find out the list of network garages. If you visit these garages, you can get cashless benefits where the insurer will directly pay the repair bill to the garage. It can be useful even during vehicle registration renewal in California
Tip: Check which insurer is tied up with your preferred garage and then purchase the policy of that company. That would save you a lot of hassles.
Adequate IDV:
IDV in insurance means that the insured declared value (IDV) of the car is probably the single most important factor that can affect your policy. It is essential to get a policy with the right IDV so as to reap the benefits of the policy later on.
Tip: To lower your car insurance premium, do not compromise on your IDV.
Deductibles:
A deductible is a minimum amount that a policyholder should pay during the claims. Insurers normally have a mandatory deductible and a voluntary deductible. This ensures that false or fake claims aren’t as regular as they used to be.
Tip: Opting for a voluntary deductible during policy issuance might be useful to reduce your premium but it can also lower your claim amount.
No Claim Bonus or NCB:
If you need to renew expired car insurance, NCB can be the difference between an affordable and a not so affordable policy. Each year (maximum five years) that you do not claim your policy, you are entitled to discounts. It begins from 20% for the first year and is up to 50% for the fifth year.
Tip: NCB applies to the owner and not the vehicle. Do check your NCB for every renewal, even if you port your plan to another insurer.
Claim History:
The claims history of an insurer can be useful to decide if you should buy the policy from them. A hassle-free and quick procedure is what you should be opting for. Conduct quick research online to find out how simple or challenging it is to deal with an insurer when it comes to claims or other issues in general.
Tip: Online Car Insurance claim procedure is seamless and quick.
Enhanced Security:
By installing a security device on your vehicle, you not only increase its security but also can reduce the premium prices. The only thing that you must be careful about is the type of devices that you install.
Tip: Anti-theft devices in your car can reduce your car insurance premium amount. Check with your insurer regarding the same.
Avoid lapses:
Lapses in your policy renewal might be expensive as NCB would lapse and a survey must be done, other than the fact that it is compulsory to have a valid car insurance policy to ply your vehicle.
Tip: You may opt for auto-renewals or set reminders to check quotes on every renewal so that your car insurance renewal becomes quite hassle-free.
Compare Online Quotes:
You can renew car insurance online, which is not only faster but also more affordable. You can ask insurers for policy quotes before deciding whether you want to purchase the policy. Individuals who strive for a cheaper policy will find this step quite useful.
Tip: Comparing quotes is important with the underlying benefits in mind.
It is recommended to always have a policy and renew it on time. Using the above tips, you can secure a good policy while renewing car insurance online.
