As per the Motor Vehicle Act, it is mandatory to have a minimum of third-party vehicle insurance in India. If you continue to drive your vehicle without getting its car insurance renewed then it can be a problem both legally and financially. In case of an accident or any collision if it is found that you were driving a vehicle with an expired car insurance policy, then it will be considered a punishable offense. Moreover, it increases the chances of financial losses if there is an accident or any other road emergency. For any loss or damage, you will have to pay on your own. Other disadvantages of an expired car insurance policy are as follows:
While renewing an expired car insurance policy, make sure that you keep these documents handy to ensure a hassle-free purchase. Mentioned below are some of the important documents that you should keep accessible:
In a Nutshell, as you can see, timely renewal of a car insurance policy can save you from a lot of hassles in the future. Therefore, try and renew your policy before it gets lapsed to avail of the available discounts. If your policy has lapsed once, do not worry, just make sure that you do not repeat the same mistake the next time and save yourself from any legal or financial setbacks should there be an emergency like a collision, accident, or third-party injuries from your vehicle.