Covid-19 has changed the way the world lives, works and goes about daily lives.From working from home, discovering new hobbies and rediscovering old ones, binge-watching online shows to increasing the time spent on social media – we’re all dealing with this in the best way we can.While none of us expected this, we are all trying to adjust to the ‘new normal’. This is the way forward for the foreseeable future and we have to learn to adapt.
As we dream of our next road-trip, let’s not forget our cars parked in the garage. While our road-trips will have to wait for a little while longer, it’s imperative to take good care of our cars – from its upkeep to ensuring that we renew its insurance.
According to the General Insurance Council of India, about 60% of vehicles in India are not insured. Even if your car is in meagre use due to the pandemic or its insurance expired during the lockdown, do not forget the importance of insurance.
Insurance protects you from a possible unforeseen circumstance and is an asset, not a liability. Whether it’s a manmade damage such as an accident or a natural calamity such as an earthquake, having car insurance protects you against both, and much more. Comprehensive and complete car insurance policies such as Bajaj Allianz also provide cover against theft, burglary, riots, acts of terrorism and the likes.
If Covid-19 has you rethinking renewing your insurance, it’s time to think again and realize that now more than ever, it’s imperative to renew your car insurance.
Here’s why you should renew your car insurance policy despite the lockdown and the pandemic:
1. If you do not renew – you’re breaking the law!
The first and the foremost reason to renew your car insurance is to abide by the laws of The Motor Vehicles Act, 1988. Under the Motor Vehicles Act, an individual found driving a vehicle without insurance will be fined can be ₹2,000 for the first offence, and ₹4,000 for a subsequent offence. It is mandatory in India for car owners to insure their cars. Whether it’s on the roads or off it, it has to be insured at least with a third-party insurance policy.
2. A possible lapse of the No Claim Bonus (NCB)
We know that one of the benefits of car insurance is that the insurer is liable to pay for any damages incurred during the policy tenure, but there is also a reward for the responsible drivers who have managed to keep their car safe for a said policy year. These rewards are in the form of NCB which is a concessionon the premium paid during car insurance renewal.
If the car owner has not made a claim during the term of the policy period, he/she is entitled to an NCB by the insurance company.
However, if the insurance expires, there is a possibility of a lapse of the NCB. To reap the fruits of an NCB, it is mandatory to renew the car insurance policy well in time.
3. Rejection of a claim
Due to the lockdown and the pandemic at large, your car might be in limited use but that does not alter the possibility of an uncertainty – be it due to an unfortunate accident or even a tree falling on the car while it is parked. You cannot foresee a mishap, and in such times car insurance acts as a shield.
Renewal of the policy is extremely important if you would want to claim a cover. If the car insurance is not renewed and you ask for a claim after its expiry, your claim will be rejected without any further investigations.
4. Theft, vandalism and other threats
Theft is one of the major crimes in India and unfortunately vehicle theft is on the rise.Did you know? According to a Delhi Police Force representative, about 125 cars are stolen per day in Delhi alone, imagine the numbers for the whole country! Another statistic shows that in the year 2019, Insurance companies have reported the highest claims for such thefts with a rise in SUV thefts by 15-20%.
With such a rising crime rate, car insurance is highly required. Insurance companies also provide for a theft cover (according to the policy guidelines) if it is claimed in time.
Vandalism - the act of deliberate damage to public or private property is also common in our country. The cars parked in unsecured colonies or at public properties become an easy target for the mob. Another threat to your car is excess heat that can lead to self- damaging of the car.
Insurance can protect your car from these threats and cover the expenses or losses incurred.
A better bet would be to safeguard your car against these possibilities by a car insurance policy renewal and keep your mind at peace.One of the most trusted policies that you can opt for is the Bajaj Allianz Car Insurance Renewal.
With just a few clicks, you can renew your car insurance online and enjoy its benefits.
● Bajaj Allianz allows the transfer of No Claim Bonus, up to 50%. This ensures that you don’t end up losing your NCB from your previous insurer.
● Bajaj Allianz also ensures flexible and cashless claim settlement at over 4,000 garages across the nation. Just punch in your pin code and find the nearest garage.
● Bajaj Allianz also provides a 24*7 call and roadside assistance, at any time of the day!
Taking precautions and maintaining social distancing is the need of the hour but something as necessary as a car insurance renewal should not be put on hold. The easiest and the most hassle-free way to renew the policy is online. You can evaluate your quotes with the car insurance premium calculator and pay online. It is safe, quick and easy. Just visit Bajaj Allianz General Insurance website, go to the ‘renew’ section, enter your details and your car insurance will be renewed without any hassles! With an insured car, you can be sure that the insurance has got you covered at all times!
Disclaimer: This content is distributed by Bajaj Allianz General Insurance. No TNIE Group journalist is involved in creation of this content.