What Is The Most Effective Way Of Renewing Your Car Insurance Policy?
Buying a car and buying a car insurance policy go like hands in gloves. If you buy a car, buying car insurance goes without saying. Also, buying car insurance comes with an obligation to renew it from time to time. The timely renewal clause often puts off the owner, as it is taken as an extra burden or responsibility.
No matter what the conditions are, a car owner can never do away with car insurance renewal online. You can’t run your car on road with expired car insurance. Doing so comes with a hefty penalty. When it comes to car insurance renewal, there are two methods available for the owners. They can either do it offline or can go for online renewal. Both have their own advantages and disadvantages.
In this article, we will enlighten you about the most effective way of renewing your car insurance.
Find The Easiest And The Most Efficient Way To Renew Your Policy
Renewal of car insurance is often considered a cumbersome job by car owners. The reason is that you have to go through all the buying processes once again. Also, when you renew your car insurance, you have to go for a thorough car inspection to determine any damage to the car. All these factors make it a daunting task for car owners.
Do you know it could be easy and stress-free as well? Read our experts’ tips on this matter and do it right away.
Compare online: Whether you are buying new car insurance or renewing the expired one, comparing car insurance online is the first thing to do. By doing so, you get to know about the offerings of the other insurance providers and can crack the deal.
Buy it online: Like comparing online, availing car insurance renewal online is also hassle-free, economical, and consumes less time. Instead of going through lengthy and cumbersome offline renewal processes, buying online is easy and stress-free.
Know the at-present car value: Knowing the at-present value of your car will help avail a discount on the premium. Insured Declared Value or IDV plays an important role in car insurance renewal. If your car was damaged once or twice, then definitely its market value would have fallen. Paying a high premium for a damaged car isn’t wise. So, it is essential to calculate the present car value and choose the IDV accordingly.
Know your benefits: If you haven’t made any insurance claim during your previous car insurance policy then don’t hesitate to ask for a rebate during car insurance renewal. The no-claim bonus of your previous insurance policy can be availed as a discount on the current premium.
Is Online Renewal More Efficient Than Manual Renewal?
Well, it is a burning question as both have their own pros and cons. While the manual car insurance renewal is the traditional one and is trusted by many, online car insurance renewal is relatively new in town and limited to the tech-savvy only.
Here, we will carry out a comparative analysis of both methods that will aid you in making a decision.
The ease
There is no denying that online car insurance renewal is quick and easy. Anyone, who knows how to work on the internet, can do it from the comfort of home. On the other hand, manual renewal comes with endless follow-ups and lengthy processes.
The trust factor
When you renew car insurance with the help of an agent, then the trust factor always exists. There are fewer chances that you are conned, since all agents are registered and easily accessible. Online renewal is safe, but there are cases where people have lodged a complaint about stealing of their identity and bank details. Technology has its own drawbacks and identity theft is one amongst them.
The time frame
Online renewal is very quick and prompt. You can get it done within a few minutes. On the other hand, manual renewal is always a time-consuming and strenuous job.
The cost
As your agent is involved in the process of manual car insurance renewal, you have to pay the agent fee as well. This increases your car insurance cost. Doing it via the online method is relatively economical and pocket-friendly. When you renew your car insurance online, you are your only guide or mentor. No one else is involved. Hence online renewal is slightly inexpensive.
Accessibility
Online renewal is available 24*7 and can be done at any point in time. You need to set aside time from your busy schedule for online renewals. Do it in the lunch hour or during late nights. This is not the case with manual renewal, as you can proceed with the renewal only during office time.
On a closing note, car insurance renewal online is a far better and effective method. You not only get a good deal but also save yourself from any unnecessary hassles.