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Time to Renew Policy? Check the latest quotes

Here’s how it will help you secure a great renewal deal.

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10+ Insurers

Before you renew, check out brand new quotes of the different insurance plans available from across 10+ insurers.

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Negotiated Rates

We negotiate with every insurance company partnered with us, to get you the best rates possible for your car insurance. You’ll find lowest premium rates on Coverfox.

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Free express claims

Coverfox launched Express Claims services in major cities which takes care of your car repairs and claims settlement for you. Renew with Coverfox, and avail these services for free!

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Existing Coverfox customer? No need to fill forms again. Log In for speedy renewals.

Benefits of Renewing through Coverfox
It’s really good for you. Want to know why?

Choose The Right IDV

60% discounts

Get up to 60% discounts on own-damage premium. The discount rates vary for each Car make, model and RTO. Check out the rates against your car!
Avail No Claim Bonus

Unbiased expert advice

We have a team of experts to help you pick the right insurance for your car. They are there to help you, and not push sales down your throat. We recommend listening to their advice, and making your own decision.
Install security devices

Post-Sales Assistance

Our service managers are there to help you with any concern regarding your policy. Confused about some clause? Need something changed? Want to file a claim? We are here to help.
Become AAI Member

Express Claims Services for Free

Car damaged? No more waiting for days to get it back on the roads. Our Express Claims Service guarantees 3 day car repairs and claim settlement. Just give us a call, and we’ll do the rest. It’s a door to door service, you don’t have to move an inch!
  • What is NCB or No-Claim Bonus for Car Insurance? 1 min video

Coverfox advantage Switching to Another Insurance Company.
Do things change or stay the same? Let’s find out.

NCB is transferred

If you switch insurers, No-Claim Bonus discount against your previous policy gets transferred to the new one. You just need to declare the NCB earned in your previous policy.
Expert Advice

No extra charge

Changing insurers does not incur extra charges. You can pick the cheapest rates every year and pick the insurer you want to go with. It is as simple as that!
Post Sales Assistance

Get benefits from Day 1

Just because you renew with another insurer doesn’t mean you have to undergo a waiting period to receive all benefits of the new plan. Access all the features of the plan from day 1.
Road Side Assistance
  • What is the procedure for making Claims on my Car Insurance? 1 min video
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Things to Check before Renewing Policy

While renewing your car insurance policy online, leave no scope for ‘blind spots’.

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Apt coverage

If you only have third-party plan, then you need to consider getting a comprehensive policy. This will cover you against heavy expenses of repairing your car in case of an accident.

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Check IDV

You need to get suitably compensated in case of theft/loss. Depending on your car’s age, re-evaluate your car’s Insured Declared Value against premiums. By this, you’d know if you have got the best price.

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Claims Check

This makes a huge different. If you haven’t checked the claims ratio of your previous insurer, don’t skip verifying it now.

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Check Cashless Garages

Make sure you look for the cashless garages near your area that would provide, repair services for your car.

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Ideal Add-Ons

If you were not aware how add-ons can help you during claims, this is the time. If your car’s age is less than 5 years, consider covers like Zero Depreciation or Engine Protector or Return to Invoice.

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Deductibles & Discounts

Check if you’ve got all discounts that you are eligible for. A deductible indicates the amount you will have to pay every time before claim. If your policy includes it, ensure that it fits your budget.

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What Happens If Your Policy Gets Expired?

Relax. We can still help you renew your car insurance policy without much hassles. Here’s what you should know.

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Car Inspection

Before renewal, your vehicle is inspected. The inspector checks each and every part of the car to assess any prevailing conditions that could lead to consequential damages. Based on its condition, the survey team recommends renewing your insurance policy and providing coverage. If your car is already in a very bad shape, the insurer may refrain from insuring it unless you first get the repairs done.

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Buy Policy Immediately

There is no grace period for renewal. Once it’s expired, it’s just expired and has to be renewed. Once your policy is lapsed you do get 90 days in which if you renew the policy, you can still retain your accumalted No-Claim Bonus. Post the 90 days, you lose out on NCB. The inspection is valid only for 24 hours. Once the vehicle is inspected, within that time period, you need to buy the policy.

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FAQs
FAQs on Renew Car Insurance

What documents do I need to renew my policy?

If you are renewing your policy offline, then you require Registration Certificate (RC) copy and if you want to avail NCB, then you also need the NCB retention letter. However, for car insurance renewal online, you do not require to submit any documents. You can simply renew your policy directly online by providing inputs such as Car model number, Car RTO registration number, and Previous policy expiry details.

Since, the insurance company already has your documents, you don’t need any additional documents.

Do I get discounts for timely car insurance renewal online?

This entirely depends from insurer-to-insurer. Sometimes, insurance companies reward prompt payments with a maximum discount that is levied on your policy at renewal. They value customer loyalty and don’t hesitate to reward those who renew their policies before it expires.

It can be as high as even 50%-60%. So if you let your policy expire, there are high chances of you losing this discount!

Would I get No-Claim Bonus if I renew my policy once it has lapsed?

Post the grace period (which happens to be 90 days specially allowed for renewal of an expired policy), the No Claims Bonus (NCB) discount is snatched out! In fact, it could be such a huge loss especially if you haven’t made a claim in the past 3 – 4 years.

Think about it! You took so much effort to save up this discount by driving cautiously. Would you want to let it go waste and start all over again? No, right?

You not only pose a threat to your vehicle that you purchased with your hard-earned money but also may end up losing a lot in terms of premium.

Will my Insured Declared Value (IDV) change at the time of car insurance renewal?

Yes it will be lowered by approximately 5 – 10%. Insured Declared Value is the maximum Sum Assured that is fixed by the insurance company. It is provided on theft or total loss of vehicle. In short, IDV is the current market value of the vehicle and is compensated to the policyholder in case of total loss of vehicle. The IDV is calculated as manufacturer’s listed selling price minus the depreciation. Since the value of the vehicle gets depreciated, year-on-year basis, the IDV also reduces.

This is the depreciation schedule:

Age Of Vehicle % Of Depreciation For Calculating IDV
Up to 6 Months 5%
6 Months to 1 Year 15%
1 - 2 Years 20%
2 - 3 Years 30%
3 - 4 Years 40%
4 - 5 Years 50%

Will my No-Claim Bonus (NCB) get transferred if I want to change my insurer on renewal?

If you switch insurers before the end of the year, then if you haven’t made any claim, you won’t receive any NCB for that year. However, once you complete an entire claim-free year, then on renewal, if you change the insurer, you can still avail the NCB.

All you have to do is produce proof of the NCB earned by way of received renewal notice from the current insurer. If you haven’t received it, you can call up the insurer and ask them to send it to you.

Another way of dealing with this is producing your original, expiring policy along with a certification that you have lodged for no claims on the expiring policy.

For this, the proof can be in the form of a renewal notice or a letter confirming the NCB entitlement from the previous insurer.