Why is renewal of motor insurance important?

Insurance
1

Why is it important to renew motor insurance on time? What are the risks or consequences of letting your policy lapse, and how does timely renewal benefit you in terms of legal compliance, financial protection, and preserving your No Claim Bonus (NCB)?

1 Like
2
  • Legal Compliance – Driving without valid motor insurance is illegal and can lead to penalties or fines.
  • Continuous Coverage – Timely renewal ensures you remain protected against accidents, theft, and damages.
  • Avoid Financial Losses – Without an active policy, you may have to bear heavy repair or liability costs out of pocket.
  • Preserve No Claim Bonus (NCB) – Renewing on time helps retain your NCB discount, which lowers your future premiums.
  • No Vehicle Inspection Needed – If your policy lapses, insurers may require a vehicle inspection before reissuing coverage.
  • Hassle-Free Claim Process – Active policies ensure faster and smoother claim settlement when needed.