Imagine that due to your consistency as a good performer, your company offers a project that demands you to relocate to another city. While you’re super excited, deep inside you’re confused about how to manage the things all sudden, starting from packing to enquiring about the new place. And amidst the chaos, you forget completely about your car insurance. Oh shit…
Well, this happens. Moving to another city is really stressful. You have to manage everything from A to Z and in the middle of such challenges, possibilities that you may forget to think about what to do with your third party car insurance, are quite high.Not a big deal, now that we’re here.
In this article, we’re giving some tips on how you move with your car insurance policy with you, when relocating.
Intimate Your New Accommodation
It is useful to update the new address with your insurer. It serves as a medium for communication, along with your contact number and email address. This helps the insurer to communicate with you regarding your car insurance to your new home address. The reason could be anything including car premium, renewal, coverage, NCB, claim settlement and so on.
Re-registration is Necessary
Once you move to another city, be it permanently or for a couple of months, re-register your vehicle with a local insurer to avail the local registration no. Don’t forget to inform your existing insurer, so he/she can update your policy records. This helps avoid any issue when you make a car insurance claim after relocating. This process compulsorily needs a No Objection Certificate from the Road Transport Authority where you used to live before moving. Hence, make the arrangements you have.
Check for Network Garages
At the time of purchasing car insurance online, the insurer assure customers that their services can be availed throughout the country. However, the insured can avail cashless services only at network garages. Therefore, it is important to check if the new place where you’re moving to has network garages. In case you need to get something in your car fixed or repair some parts through a network garage, they may not be available at your new location. Hence, you may end up paying from your pocket and then have it compensated through a claim. Sometimes though, the option of garages in some cities is limited.
Influence on Your Premiums and Car Cover
We can’t guarantee there will be a change in your car premium or not. It will entirely depend on the insurance company. However, it may vary depending on the risk covered. Again, the premium is also determined based on the zonal risk. Your insurer may ask you to pay a higher premium when you relocate to a naturally catastrophic zone like flood-prone or earthquake area. But, bear in mind that your insurance company wouldn’t provide assistance for towing the car to a roadside workshop or any help.
See full story at www.policybazaar.com