Common Mistakes To Avoid When Renewing Cholamandalam MS Car Insurance

According to the Indian Motor Vehicle Act, every bike owner must have a valid car insurance policy. The number of traffic accidents has increased dramatically as the number of vehicles on the road has increased. Involvement in accident damage both your bike and the vehicle of the other party. Compensating for the loss of a third party and fixing your bike will be extremely costly. As a result, having a proper car insurance policy with adequate coverage is essential. In this article, you can read about the common mistakes that you can avoid while renewing your car insurance from Cholamandalam MS General Insurance. 

5 Most Common Mistakes To Avoid While Renewing Car Insurance 

Like every other insurance policy, your car insurance also has a particular term through which it is valid. When the term expires, the facilities of the car insurance policy are also stopped. Renewing your insurance regularly will help you to remain covered and avail of the facilities. Even if the renewal process for your car insurance is simple at Cholamandalam MS General Insurance, it is very common to make mistakes. The following are the mistakes that you can avoid while renewing your car insurance with Cholamandalam MS General Insurance -

• Skipping Comparing Policies 

When you are renewing your car insurance, it is the best opportunity for you to explore different facilities and policy plans that are offered by different insurance companies. You can select different additional covers and change the type of your car insurance policy when you renew your plan. You may miss out on better deals and plans when you skip comparing different insurance policies. At Cholamandalam, you can choose from various policy plans for your car and select the required add-on covers depending on your requirement without any confusion online. 

• Selecting Unnecessary Add-ons

Selecting add-ons may not always be necessary, and many policyholders make the error of going overboard. These add-ons increase the overall cost of your car insurance premium. Thus, it is wise to select the covers that best suit your needs. It's great to be careful, but being overly cautious can result in an annual premium increase that is unwarranted.

• Choosing A Plan With Minimal Coverage

Choosing this level of coverage will help you meet your legal obligations, but not your insurance needs. Although plans offering minimal coverage may be budget-friendly, it can leave you uncovered in misfortune situations. At Cholamandalam MS General Insurance, you can select the car insurance plan that is tailored to your requirements at an affordable premium. 

• Annual Payment of Premium

The cost of the car insurance premium is one of the main parameters that come into play while purchasing or renewing your car insurance. Failure or delay in payment of insurance premiums by policyholders may result in a variety of issues. As a result, policyholders should choose a comprehensive coverage plan that meets all of their requirements. You must also make sure that the strategy fits into your budget, or else all of the advantages will be lost.

• Avoiding Online Facilities 

For some, the internet world is a completely new realm, and the transition might be challenging. When compared to offline policies, online policies are more convenient and economical. There are numerous benefits to using the online platform starting with accessibility from anywhere at any time with no paperwork. Cholamandalam MS General Insurance has enabled its customers to renew their policies online at their official website which has a simple user interface. 

Take Away

To continue to get the advantages from Cholamandalam MS General Insurance, you must renew your policy on a regular basis. If your car insurance policy has expired, your claim will be denied. If you wish to stay covered, make sure to renew your bike insurance coverage on a regular basis. To avoid having your claim denied, make sure to follow the policy's terms and conditions while claiming your car insurance.

Also Read: 

All About Car Insurance Frauds In India

How to Cancel A Car Insurance Policy and Receive A Refund?

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.