Renewing motor policy on time is more cost-effective and hassle-free option

If you let it lapse and renew later, you will lose out completely on the no-claim bonus

Many people working from home and making minimal use of their cars have decided not to renew their motor insurance policies. The Ministry of Road Transport and Highways had issued a notification that extended the validity of vehicle documents, such as driving licence, permits, and fitness certificates, till December 31. The General Insurance Council has, however, clarified this does not include the insurance policy.

Not renewing your motor insurance policy on time can lead to several problems. “If you are forced to use your vehicle due to an emergency and are stopped by a traffic cop, you could end up