Expired car insurance policy means that your policy is no longer active because you didn't renew it on time or missed a premium payment. It implies that your car insurance expired policy will now not cover you for any damage or loss caused due to any accident.
Driving with an expired car insurance policy has several disadvantages, which are covered below. Therefore, to remain safe in all unfortunate incidents and to have financial backup at all times, it is important to do renew expired car insurance online as soon as possible. Additionally, it also ensures your peace of mind.
Should I Do Expired Car Insurance Renewal with the Same or New Insurer?
You can choose whichever option suits you the best – you can either go with the same insurer if you are satisfied with the experience, claim procedures, transparency, customer support. You can also switch to a new insurer and your car insurance policy will automatically be transferred.
Can You Do Car Insurance Renewal After Expiry Online?
Yes, you can do expired car insurance renewal online in case you fail to renew it within the car insurance expired grace period. However, you will not be able to raise a claim for an incident that occurs after the policy has expired.
Wondering how to renew expired car insurance? Well, here are three types of situations:
- Immediate Car Insurance Renewal Within Grace Period
In case you forget to renew the expired car insurance policy despite regular reminders, your insurance company usually allows you to renew the car insurance policy within a specific period, called the grace period, with no severe consequences. It generally ranges between 30 to 90 days, depending on the insurer.
Also, if you renew car insurance expired policy within grace period, your insurer might not even increase the premium or inspect the car in such a case before renewing, and will keep your No Claim Bonus discount intact, if any.
2. Car Insurance Renewal After Grace Period
If you fail to renew expired car insurance within 90 days after the policy has expired, then in such a case your car insurance policy will be terminated. This can mean that you will need a fresh car insurance policy which will require a car inspection upon renewal, and the accumulated No Claim Bonus, if any, will be cancelled. Thus, your car insurance premium will be significantly increased.