On average, 25% of policyholders of car insurance in India do not renew their insurance plans. The underlying reason for the non-renewal of the policy is a tedious process. Nowadays, around 60% of car owners in the metro cities prefer to insure their vehicle online than offline. Buying or renewing insurance from an agent is a lengthy process. On the other hand, the online process of buying or renewing a policy is cheaper, faster, more straightforward, and more transparent. Without an intermediary, your purchasing decision is unbiased. The claim settlement online is hassle-free and quick as compared to offline claim settlement. The benefits of an online purchase suit the current fast-paced lifestyle.
The internet can help you even before making a purchase decision. You can easily compare car insurance online to check the premium, riders, inclusions, and exclusions of an insurance policy. Now, you may be wondering about the ways to buy the policy online. Here we discuss step-by-step processes to help you buy and manage your insurance policy effectively.
Purchase and renewal of car insurance
You cannot buy or renew an insurance policy without the car’s registration number. Thus, keep it handy. Most insurance companies mention the features and benefits of their car insurance plans on their website. You can request a quote for the premium amount for a plan. You can, without difficulty, research online for the best car insurance companies in India. After making the purchase decision, visit the website of the desired insurance company.
Further, you can easily buy suitable four-wheeler insurance by filling a simple form and paying through the payment gateway. In the end, it takes only a few minutes to generate an insurance policy online. You can download and save the PDF to the computer, and print the policy document as and when desired. The insurance company will also send the policy document to your registered email address.
Assure renewal of your car insurance before the expiry date. Again, renewal of the policy takes place on the insurance company website. Follow the steps below:
• Enter the “renewal” tab or section on the homepage
• Fill in the details like your name, car’s registration number, etc.
• Select the insurance plan.
• Add or remove riders to the car insurance policy.
• You can pay the premium amount using a credit or debit card, UPI, or net banking.
• On successful payment, your insurance policy will be renewed.
You will receive the new policy document at your registered email address. You may save it on your computer and print it when required.
Car insurance online check
You can check your car insurance status on the website of the Insurance Information Bureau of India (IIB). Only information for cars insured post-April 1, 2010 is available on the website. Remember to use an email address and phone number not more than three times to view the information. IIB will restrict you on the fourth trial. Check the insurance status of a new car after two months as information transfer from the insurer to IIB may be delayed.
Specific details are mandatory for checking the car insurance status, such as the car’s registration number, the car owner's name, the address of the car owner, and the date and place of an accident, if required. Follow the steps below:
• Visit IIB portal.
• Now, visit the V-SEVA tab under the quick links.
• You will be redirected to the Accident Vehicle Information Retrieval System.
• Click on “submit” after filling the form with desired information such as car’s registration number etc.
• If available, the insurance status of your car will be displayed.
You can also check the status of car insurance through VAHAN, the national vehicle registry. Follow the steps below:
• Visit the page of VAHAN e-services.
• Create a login using your mobile phone.
• Now, visit the know your vehicle details tab.
• Enter the car’s registration number and the verification code.
• On clicking submit, you can view the car insurance status.
Technology like smartphones and wireless communication has increased the potential of the internet. As seen above, now you do not have to feel bogged down with the task of buying and renewing a car insurance plan. It just takes a few clicks.