CORONAVIRUS TIMES – Renewing Your Car Insurance During the Pandemic

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    The above headline takes us back to the year when coronavirus had entered India and forced the whole country to undergo strict lockdown implications. It’s been a year and we just saw how 2nd wave of the deadly virus ravaged India all over again, just as life was returning back on track. One thing that this difficult time has taught us, is the importance of Digitization. It has taken precedence during these times as everything from groceries to medicines was being purchased online and delivered to our doorstep. Work from home became the new normal and the mode of education shifted from books to screens.

    A lot has changed and so has the attitude of people towards life. They are purchasing less and caring more. The restrictions have upended the usage of cars. If your car insurance is due for renewal, you may be thinking about how to renew car insurance during coronavirus lockdown? This article will answer all your question. It will also discuss why you need to renew the motor insurance even in these pandemic times.

    CORONAVIRUS AND CAR INSURANCE

    Due to extended lockdown implications, people are considering avoiding renewal of their car insurance policy. The biggest cause is that the imposed lockdown and curfews have drastically reduced daily car usage. One does not need to go to the office or to go shopping or meet your friends. In fact, you only need to take your car out if you require an essential item or service. The usage of cars has definitely shrunk in the current scenario, but that doesn’t make the value of car insurance any less. Car insurance is necessary for all four-wheelers even if it’s used once a year. Also, we shouldn’t disregard the possibility that we might need our car to buy essential items or to visit hospital in case of a medical emergency. When we do so, we might get caught for driving an uninsured car which can create serious problems for us. So, while commuting we must ensure that our insurance is updated. But what if our car insurance has expired?

    With coronavirus on fleek, all the insurance offices are still working with limited staff in certain areas of India.In such a situation, we need a convenient and efficient method to renew your insurance policy online.

    WHY SHOULD ONE RENEW THEIR CAR INSURANCE DESPITE LOCKDOWN?

    Car insurance is mandatory even if we take our car out for a spin once a year. Some of the reasons to support this argument are:

    Third-party liability cover is still mandatory – The Motor Vehicles Act 1988 mandates every car to have at least a third-party liability cover. That is the motor law of our country, if one is caught driving a car without the minimum insurance cover, they may attract a fine or get their driving license confiscated.

    When caught driving without insurance:

    1st time- Rs 2000 fine and/or up-to 3 months of jail term

    2nd time- Rs 4000 fine and/or up-to 3 months of jail term

     

    Unused cars can also get stolen or damaged – Lockdown might have forced our car to stand idle in parking lots, driveways or roads for days at a stretch. But that doesn’t mean that it will remain immune to unforeseen damages and loss. Our car can still get damaged in a fire or during an earthquake, or thieves may attempt to steal our car and belongings inside. With our car insurance updated, we will not have to bear the losses as the insurance company will pay for it.

    Third-party liabilities can cause major financial losses – Car accidents can happen even when we take your car out once a month. Some accidents can lead to damage/loss or injuries to a third-party person. In that case, it will be our legal responsibility to pay for their vehicle’s repairs and replacements as well as for their medical expenses. Our car insurance covers such liabilities on our behalf and saves us from a major financial setback.

    Increased renewal premium and loss of NCB – Due to the low usage of our car, we might decide to not get your car insurance renewed. Doing so will force us to shell out huge amounts for premium payment when we go for a renewal. Because our car insurance might have relapsed on being dormant for such a long time. Also, 90 days after our insurance expiration date, we will lose our No Claim Bonus or NCB.

    HOW TO RENEW YOUR CAR INSURANCE ONLINE

    Post pandemic world is opening up a plethora of possibilities and online insurance renewal is one of them. Online renewal is a hassle-free and convenient process. You do not have any time constraints and you do not need to step out of your door to do it. CarJasoos.com can help us with the process and queries one might encounter.

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