Pune (Maharashtra) [India], May 21 (ANI/NewsSee): The current health crisis has once again paralyzed the whole country. With most industries and businesses operating remotely, the need to travel has been reduced.
Despite the reduction in out-of-town visits and the postponement of travel plans, it is imperative to take good care of cars and bicycles, while ensuring that car insurance is renewed in a timely manner.
The long-term benefits of having good car insurance outweigh the short-term financial gains. And, insurance provides financial protection against any unforeseen eventualities.
Comprehensive car insurance or bicycle insurance will keep you financially prepared and protected against loss or damage caused during events such as man-made or natural disasters, theft, among others. In addition, civil liability is also covered by all-risk motor insurance.
Importance of Auto Insurance Renewal
Here are some reasons why you shouldn’t skip renewing car insurance or bike insurance:
Non-renewal is a violation of the law: under the Motor Vehicles Act 1988, non-renewal of car insurance can result in a fine for car or bicycle owners. Thus, whether the vehicle is on-road or off-road, it must be insured by at least third-party liability insurance.
Lapse of No Claim Bonus (NCB): No Claim Bonus helps reduce one’s premium when renewing the policy each year. If the insured has maintained a claim-free year, he can then benefit from the bonus. It offers a premium discount for not filing a claim on the insured automobile during the policy period. Non-renewal of car/bike insurance will result in the loss of the NCB.
Disasters/Natural Incidents: Natural disasters can occur unexpectedly. Tree felling, theft, vandalism or any other unforeseen event can result in loss, and without a good insurance policy no claim can be made for these expenses.
However, it is advisable to assess insurance needs by comparing different car and bicycle insurance policies before changing insurers. To make a wise choice, choose an insurer that offers higher coverage at an affordable premium.
A good car insurance policy will cover losses due to natural disasters or any unforeseeable event. This is precisely why Bajaj Finance Limited can be relied upon when buying comprehensive car insurance. In addition to the advantage of renewing car insurance and bike insurance online, Bajaj Finance offers a variety of plans that perfectly suit its needs.
Why choose Bajaj Finance Ltd car insurance?
When it comes to choosing an insurer, it is essential to go with a company that gives maximum value for money paid through premiums. Bajaj Finance is one of the most trusted names in car insurance, with easy claims settlement and consistent service across all industries.
Simple and practical procedure: Bajaj Finance Limited offers you the possibility of renewing your car or motorcycle insurance online. The amount of insurance premium is decided based on the insured declared value (IDV of the vehicle), model, past and claims history, after which the insured value is stated. With the help of an online premium calculator, one can assess the IDV and purchase a policy instantly online.
Wide range of networked garages: Bajaj Finance, in collaboration with its partner agencies, offers a national network of service centers and garages for immediate assistance.
Hassle-free claims settlement: Bajaj Finance offers 24/7 support and assistance for seamless claims settlement.
Insurance is a necessity and the higher expenses involved should not be a barrier to renewing essential policies. Bajaj Finance offers quality auto insurance and bicycle insurance for financial, medical and personal protection, as well as liability expense coverage.
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