Last Updated on July 29, 2019 by Gopal Gidwani

There are numerous reasons because of which many people forget to renew insurance before the expiry date, such as illness, an emergency situation at home, travel, hectic work schedule, etc. But there are few who intentionally skip car insurance renewal just to save the premium amount without understanding the after effects. Because of the busy schedule, people miss the due date of their insurance renewal.

Motor insurance is a policy which needs to be renewed by its due date. Lapsed motor insurance occurs when an individual fails to renew the policy at the due date. After motor insurance renewal date, an individual has to bear all the cost from his pocket in case of any accident as insurance companies don’t entertain as the insurer does not hold a valid policy. Also, driving without insurance is not legal as vehicle insurance is mandatory in India.

Here are 5 things you must always keep in mind when your motor insurance policy expires:
a) Get organized
In case you fail to renew your motor insurance policy on time, get in touch with your insurance company and get your vehicle surveyed. Once the survey is satisfactorily completed you can go ahead and purchase the insurance policy.

b) Avoid driving your car
Driving your car without motor insurance is illegal in India. If any minor damage happens to your car, it won’t be covered by the insurance company. You have an option of renewing your motor insurance online.

c) Buy a new policy
If your insurance company lapses your motor insurance, because of non-payment of the premium, then you will have to renew your expired motor insurance policy. You can find a new motor insurance online. Many insurance companies are providing policies at affordable rates.

d) Click and buy
Due to high-speed internet, everyone is doing their business online. You can find the best motor insurance online. You don’t even have to visit the insurance company office. Just by clicking on your mobile device you can select the best motor insurance. It is secure to buy motor insurance online. It saves a lot of time and also premium payable is less while renewing the motor insurance policy online.

e) Be careful in the future
Make sure to pay the premium on time to avoid policy lapse. Online car insurance renewal or renewing your bike’s policy is also advisable, as you can get a digitally signed policy immediately.

If your motor insurance lapses, then your motor insurance renewal can be rejected if the lapse period is significantly high. Renewal might be allowed by paying the fine and penalties. Sometimes, insurance companies offer a grace period to pay the premium and renew your policy after the due date. The grace period can range between 3 days and 30 days with or without any late fees, charges or penalties.