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Tips To Upgrade Your Car Insurance Policy At The Time Of Renewal 


Upgrading your car insurance policy is relatively straightforward. All you have to do is fill in the details of the upgraded policy that you are looking for in the renewal form, and the insurer will provide you with the new premium rates. Given that the whole renewal process is now online, you don’t even need to contact an agent for this. Just visit the website of your preferred insurer, and fill in the form for policy renewal. In fact, you can also switch insurers at the time of renewal and carry forward the no claim bonus you may have accumulated with the earlier insurer.

Why would you want to upgrade your car insurance?

There can be a number of reasons why you would want to upgrade your car insurance. These include:

  1. You earlier had a third party insurance but now realize that this is not sufficient and would prefer a comprehensive car insurance
  2. Your circumstances have changed and you would like to purchase add-on cover to your original insurance policy
  3. You believe you now need higher commercial liability coverage for your commercial vehicles
  4. Your son has also begin to drive your car, and you would like to add him to the insurance policy
  5. You have purchased a new vehicle and you would like to transfer your old policy to the new car. You can do this and upgrade the sum assured based on the new car’s insured declared value.

What will be the price difference?

When upgrading your policy, the price difference would depend on the kind of update your choose. For example, if you upgrade from a third-party liability car insurance to a comprehensive car insurance, the increase would be substantial as Own Damage premium would be added based on your Insured Declared Value. On the other hand, if you would like to upgrade by purchasing an add-on cover, the increase in premium may not be significant. You should compare the prices online before you decide on the upgrade.

Can the car insurance policy be downgraded as well?

Yes, you can downgrade your cover at the time of renewal as well. For example, you can choose to remove some of the drivers you had previously identified. You can also choose to drop an add-on cover you had previously purchased. While it is not advisable to move from a comprehensive car insurance to third-party liability insurance, you can do this as well.

When renewing your policy, it is advisable to revisit your insurance requirements and upgrade your insurance policy as needed. You should also check premiums for various policies online, including the ones offered by Bharti AXA GI , before upgrading your existing policy to ensure that you get the best deal available.

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Disclaimer :The information published on this website is for the public's reference only. Content of this information is to provide an overview of your Insurance needs and should not be relied upon for personal, medical, legal or financial decisions and you should consult an appropriate professional for specific advice for Travel/Health/Motor. Bharti AXA General Insurance Company Limited makes no representations about the suitability, reliability, timeliness, and accuracy of the information, travel, services, or any other items mentioned on this subject for any purpose whatsoever.

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