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Home / Car Insurance / Renew Expired Car Insurance Online: Lapsed Car Insurance
As important it is to buy car insurance, it is equally important to timely renew car insurance in India. Renewing car insurance before its expiry date is vital to keep the policy active and safeguard yourself from any mishaps. Read more to understand how to renew expired car insurance online, things to consider while renewing an expired car insurance policy.
Renew Expired Car Insurance Policy
Once your car insurance has expired, the insurance company’s promise to cover the car stands nullified. In short, you cannot raise a claim for an incident that occurs after the policy has expired. There are three categories concerning expired car insurance or lapsed car insurance. Here’s an overview of these three categories concerning a Comprehensive Plan.
1. Immediate Car Insurance Renewal After the Expiry
There might be an instance where you forgot to renew the policy despite regular reminders from your insurance company. Finally, after the policy’s expiry, you get a message from the insurer stating that the car insurance cover has expired. You panic and immediately renew the plan online. Usually, there are no severe consequences if you renew the policy immediately. It is advised to not drive the car during the short time for which the car wasn’t insured to avoid damages during that period. The insurance company might not even increase the premium or inspect the vehicle in such a case before renewing the policy.
2. Car Insurance Renewal After Grace Period
Many insurance companies including ACKO do offer a grace period when it comes to car insurance renewal. The grace period is typically within 30 days to 90 days, however, varies for each insurer. Note that the grace period does not mean that the car shall be insured during that period. It simply means that you can insure the car without facing consequences like an increase in premium amount. Also, renewing your policy within the grace period will keep your No Claim Bonus discount intact, if any. You should not drive an uninsured car even if it is in this grace period.
3. Car Insurance Renewal After 90 Days of Policy Expiry
You do not want to be in this position. Not insuring your car within 90 days after the policy expiry can mean a car inspection and cancellation of the accumulated No Claim Bonus, if any. Both these things have the potential to drastically spike up the payable premium. You shall also be exposed to the risk of being caught by the police if you drive an uninsured vehicle. Such an act can lead to monetary fines. In an unfortunate event, if the uninsured vehicle injures a pedestrian or damages property, it can lead to legal ramifications as well. This is because owning Third-party Car Insurance cover is mandatory in India.
What Happens if Car Insurance Expires?
If your car insurance policy expires, you are without insurance coverage and vulnerable to financial risks. The insurer will no longer cover you till the time you renew the policy or buy a new one. Here are the risks of an expired car insurance policy.
No Cover and Claim
An expired policy is similar to no coverage. And no cover means you cannot raise any car insurance claims. This means, if your car faces damages due to fire, riots or floods, the insurance company is not liable to compensate for the losses. You will have to bear the entire expenses. Thus, it is crucial to renew your car insurance policy in time to benefit from continuous insurance coverage.
Legal Trouble
You can get in trouble with the law-enforcing authorities if you are found driving a car with an expired insurance policy. Such an offence can lead to monetary penalties. Repeat offence attracts severe penalties. In a worst-case scenario, you can even end up behind bars. Thus, if you know your car’s policy has expired, take action to renew it immediately and do not venture out with your four-wheeler on public roads with the expired policy.
Longer Renewal Process
If your policy has expired for a lot of days, it might take longer for you to renew the plan. For example, if a policy has not expired, it can be renewed within minutes thanks to digital insurance companies such as ACKO. However, in the case of an expired policy where there is an inspection required, the policy cannot be renewed instantly without the inspection process. The inspection process can take time depending upon the availability of the inspectors and your timing.
No Claim Bonus (NCB) Loss
The NCB can be lost if the car insurance policy is not renewed within 90 days after the original expiry date. Such a loss can translate into a huge expense, especially if the NCB discount was 50%. The NCB discount is a renewal benefit given to you if you do not raise a claim during the policy period. It keeps on accumulating for claim-free years, up to five years. It can be as high as 50% if no claims are raised for five consecutive years. Post five years, the discount freezes at 50% till the time a claim is raised. If a claim is raised, it resets to zero.
Scope for Inspection
If the insurer feels that considerable days have passed since the car has been uninsured, it might want to inspect the vehicle before renewing the policy. Such an inspection can lead to a price hike due to two reasons. One; the inspection process costs the company, and that cost is added to the premium. Two; if it is found that the car is not in good shape and is at risk.
How to Renew an Expired Car Insurance Online
If car inspection is not required, you can renew the policy smoothly thanks to ACKO’s smooth online car insurance renewal facility. There are two ways to go about online car insurance renewal. You can either renew the plan from the same insurer (in this case ACKO) or choose a different car insurance company to insure your four-wheeler. The process to renew the car insurance policy on ACKO is as follows.
Step 1
Visit www.acko.com or download the mobile app and log in to your account.
Step 2
Change plan if required or you can continue the same plan.
Step 3
Once you select the policy, make the payment and get the renewed policy document.
Impact on No Claim Bonus While Switching Insurers
Even if you are switching insurers, your accumulated No Claim Bonus will still be applicable. You can benefit from this as per your new insurer’s process.
Some insurers might ask you to fill in the NCB details and some might need an NCB certificate from the previous insurer to offer the discount.
Here is a table highlighting the No Claim Bonus discount
| Number of Claim-free Years | Renewal Discount (NCB) |
|---|---|
| Post 1 year | 20% |
| Post 2 years | 25% |
| Post 3 years | 35% |
| Post 4 years | 45% |
| Post 5 years | 50% |
Car Inspection Process
If the insurance company needs to inspect your four-wheeler before insuring it, they will let you know during the policy purchase process. If you are buying via the website, you will not be able to proceed without the car inspection process. You might be directed towards a different webpage or asked to follow a different process; for example, an on-call discussion or an email. Here’s an overview of the Car Inspection process on ACKO.
Step 1
Express your interest to renew your car’s insurance policy via the website or on call.
Step 2
Post verification, ACKO will ask or state a time for car inspection. Confirm the availability for car inspection.
Step 3
Answer any questions posed by our team assigned for inspection. Once done, receive a quote and insure your car.
Why Should You Renew Expired Car Insurance Online from ACKO?
Here are the top benefits of choosing ACKO for online car insurance renewal.
Low Payable Premium
Buying or renewing car insurance directly from ACKO means skipping intermediaries. This means no commissions and more savings for you.
No Documentation
You can insure your car with ACKO online without getting into physical forms and a long list of documents.
Lightning-fast Renewal
Simply log in to your account and renew the plan by making the online payment. You can renew your policy in a jiffy!
Guided Purchase
You can receive expert advice from dedicated insurance executives by reaching out to the customer care team. You can also read blog posts to understand car insurance in detail.
Value-Added Services
With features like one-day pick-up and instant repairs, the entire journey with ACKO is hassle-free.
Rapid Claim Settlement
The tech-based infrastructure reduces the time taken to process car insurance claims ensuring that the process is rapid.
Things to Do When Car Insurance Policy Has Expired
Here’s a list of action items if you find yourself in a position where your car insurance policy has expired.
Reach Out to the Insurer
Contact your preferred insurance company (e.g. ACKO). Let them know that your current policy has expired and you want to renew the plan from them. This can be done via their website, on-call, or via email.
Don’t Drive
Refrain from driving an uninsured vehicle. Ensure to park it in a safe space where it has minimal chances of damage. Take these precautions as your insurer will not cover losses for an uninsured vehicle.
Renew at the Earliest
Renew the policy as soon as possible. While not driving and avoiding legal penalties is in your control, damage to the car in the parking area cannot be controlled. In such a scenario, you will have to bear the expenses.
Review the Cover and the Insurer
Use the situation to your advantage and review the cover and your insurer. For example, you can switch to a different plan offered by a different insurer if it appeals to you.
Be Available for Inspection
If the insurer needs to inspect the vehicle, make sure to be available at the earliest. Postponing the inspection will delay the renewal process.
What to do If Vehicle Insurance Expires?
What Does The Law Say?
The law says that one should always have a valid car insurance policy while driving. It is mandatory as per The Motor Vehicles Act, 1988 to buy car insurance (renew expired car insurance) before driving on Indian roads. Just as you can buy car insurance online, it can be renewed online as well.
It is suggested to renew your car insurance policy at the earliest and refrain from driving the car until the insurance policy is renewed. If your car meets with an accident or is involved in an unfortunate event, you will not be able to claim insurance as you will not have a valid insurance cover. You can also get into legal tangles if you cause any third-party damages.
What Happens To My NCB?
Insurance companies provide a No Claim Bonus (NCB) for driving safe and not making claims. NCB protection cover in car insurance is a discount provided by insurance providers while renewing your policy. If there is a gap of more than 90 days between the date your car insurance policy expires and the date when you renew it, you will lose this bonus.
What’s The Renewal Process?
Whether you are renewing or buying car insurance online, visiting the insurance provider’s website is the way to go. Renewing your car insurance policy is easy. If there is no inspection required, you can renew your car insurance policy within minutes. Once you complete the online payment, you will receive the policy in your inbox.
The car inspection step in the renewal process is dependent on your insurance provider and the time lapsed after the expiry date. Some insurers do not need an inspection if the policy is about to be renewed within a week after its expiry. For some, that period can be a month as well. However, if the period exceeds 90 days, then it becomes mandatory to inspect the car before insuring it again.
Can A Policy Be Renewed From A Different Insurance Provider?
Yes, just as you have the choice to buy car insurance from any insurance provider, you can choose to renew it from a different insurance provider as well. When the policy expires or is about to expire, it is a good time to review your insurance provider. It is completely legal to buy car insurance from one provider and renew it from another.
You can change your insurance provider if you have had a bad experience dealing with that company. If you have heard good things about a particular insurance provider and you want to switch, you certainly can while renewing your car insurance. Your NCB will also stay intact if you choose to go to a different car insurance provider.
Frequently Asked Questions About Expired Car Insurance Policy
Listed below are some of the common policyholder queries concerning the renewal of an expired car insurance policy.
Generic FAQs
Is it possible to renew the expired Comprehensive Car Insurance Policy via the online mode?
Yes. With ACKO, you can renew a Comprehensive Car Insurance Policy online even if it has expired. If the car needs to be inspected, the same shall be communicated to you and arrangements shall be made.
Can I renew the policy a month before it expires, so I can be safe?
Yes, it is possible to renew your car insurance policy in advance. How soon you can renew is decided by the insurer. You can try renewing online or contact the insurer to know more about it. The ideal way to go about it is to renew the plan as soon as you receive the renewal reminder from the insurance company.
What are the drawbacks of not renewing the car insurance plan before its expiry date?
As car insurance is compulsory, you will not be able to drive legally with an expired policy. This means the police can penalise you. The insurer will also not cover you for losses in case of accidents as the policy has expired. Also, if you fail to renew the policy within 90 days post expiry, your accumulated renewal discount in the form of No Claim Bonus will go down to zero, leading to a higher premium during policy renewal.
Will I be charged a monetary penalty in case I am caught driving my car with an expired plan?
Yes, you can be charged a monetary penalty in case you are caught driving with an expired car insurance policy. A repeat offence will warrant an additional monetary penalty. The exact payable amount might vary from one location to another.
Documentation Related FAQs
Are there any specific documents that I need to submit before renewing my expired car insurance policy?
The exact list of documents for car insurance renewal can depend upon the number of days that have elapsed after the policy’s expiry date. Also, insurtech companies such as ACKO do not need physical document submission for renewing the policy.
Is there a document or a process by which I can check the policy expiry date of my car insurance plan?
Your car insurance plan’s policy expiry date shall be mentioned on the Policy Document. If you have purchased the plan from ACKO, simply login to your account via website/app and check the expiry date in the My Account section. There’s also the option to email us or call the support team to know the policy date. We also send timely renewal reminders so you do not miss out on renewing your policy.
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Need More Help?
Have queries related to ACKO’s two wheeler insurance policy? Refer to our Policy Wordings for detailed information or reach out to us via email or phone using the information below
Email
Write to us at [email protected]
Phone
Call us on 1800 266 2256
Acko Technology & Services Private Limited
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