Reasons You Should Renew Your Car Insurance Policy On Time

Hey friends, have to encounter such situation? You know, sometimes it can be frustrating when we forget to pay our utility bills, credit card bills, or other bills on time because we have too many things to do each day.  If yes, you can relate to this. The difficulties and penalties of non-payment of dues on time also apply to your car insurance. Auto insurance coverage is not valid for a lifetime; it has an expiry date, and not renewing it on time can lead to considerable inconvenience. A car insurance plan is a quintessential part of your car and must be renewed every year not only because it's mandated by law but for you to have a financial backup in times of unfortunate events. It is advisable to renew your car insurance policy on time for the following reasons.

Reasons You Should Renew Your Car Insurance Policy On Time
[image: pexels by taras makarenko]

Expired Auto Insurance Coverage Is A Legal Offense

The Motor Vehicles Act has mandated every car to have an active auto insurance policy if it is being driven on Malaysian roads. Going around with an expired auto insurance policy is not better than driving around with no policy at all. So, when your auto insurance cover expires, the policy becomes inactive. 

When a law enforcement officer asks you to stop on the road, he will not ask for an expired policy; he will ask for an active one. So, driving a vehicle without a valid auto insurance policy is a legal offense, and if you are caught, you will face heavy penalties. So, to prevent being embroiled in legal infringements, your vehicle should have a legitimate auto insurance plan at all times.

You Bear The Financial Consequences Of Any Damages Caused Or Loss Suffered

Your auto insurance plan protects you against any financial burden you incur when your car causes bodily injury or damages to the property of any third party, comparing car insurance premiums verses the sum insured. Additionally, any wounds endured by you or any damages or loss to your car are also covered under a comprehensive auto insurance policy. Consequently, you are free from any financial responsibility that may arise from potential accidents and unfortunate events. 

So if your car insurance cover lapses, the coverage terminates. In such a case, you would be responsible for paying for any loss or damages caused to third parties or any damages endured by you from your pocket. Along these lines, to protect yourself from such heavy financial liabilities, on-time renewals are demanded.

You Have to Go Through the Stress of Getting Your Car Inspected 

In the event of renewing an expired auto insurance plan, insurers insist on cross-checking and reviewing the car before the new policy is given. This review involves quite a few processes. Some of the processes include a surveyor visiting your home, conducting your car's inspection, presenting the inspection report, reviewing the report, and issuing a new coverage if it is satisfactory. All these inspections and processes take time and create lots of inconveniences. Thus, all the stress can be avoided if you renew your insurance coverage on time.

Final Thoughts

Therefore, on-time renewals of your auto insurance policy are necessary both from the legal and financial perspectives. They are legally required and financially worthwhile too. So, be punctual and don't let it get expired. You can always renew your policy online at It's fast, easy and you get to compare car insurance quotes from different insurers to get the best juicy deals

No comments:

Post a Comment

Please Leave a Comment to show some Love ~ Thanks