What will happen if my four wheeler insurance not renewed

Coverage extends to the car's owner, who can ride worry-free knowing they're protected in the event of an accident. Motorists should remember to renew their four-wheeler insurance policies well in advance of their expiration dates, as doing so satisfies legal requirements and protects them from financial ruin. If your car insurance policy expires, you won't be financially insured in the above situations.

If your four-wheeler insurance has expired or lapsed, you may face the following consequences:

Costly penalties:

Every vehicle in India is required to get insurance. If it is your first crime, transport and traffic officials will give you a fine of Rs. 2,000 and/or put you in jail for 3 months. If it is your second offense, they will give you a fine of Rs. 4000.

Loss of No Claim Bonus (NCB)

NCB is a discount for not claiming and riding safely during the first year. After 90 days, you forfeit the discount if you don't renew or acquire bike insurance. Five years without a claim earns a 50% discount. If you switch to four wheeler insurers, you can keep your NCB and discount. You can't port an expired/lapsed policy. Your four-wheeler insurance protects you financially if your car is damaged, stolen, or lost, and it also compensates you if your car causes physical harm to another person or if it causes damage to another person's vehicle or property.

Legal liabilities

Third-party liability covers your financial responsibility for damages/injuries to a third-vehicle party or property. Comprehensive four-wheeler insurance covers damages, loss, or theft of your car and third-party liabilities. If you have no car insurance or an expired/lapsed policy and have an accident, you can face legal troubles. If you had insured your car, the insurer would have compensated for repairs or medical bills.

Time consuming process

Long process to renew lapsed four-wheeler insurance. You may have to acquire new motor car insurance. Before offering insurance, the company may inspect your vehicle. You'll lose NCB and pay a higher premium.

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