Of the so many companies providing motor insurance in India, it may well be the case that your current insurer might not be fitting well to your motor insurance needs. So, considering this as well as other factors you can change your motor insurer around the expiry date of your running car insurance policy with no additional documentation. It is also to be noted that you do not lose on no claim bonus benefit.
1. In case of availability of a better plan: Time to time, insurers are upgrading their plans to better service customers. Motor insurance in totality is made up of third party and own damage insurance and it is in respect of own damage part that one plan differs from the other. And as a thumb rule it is suggested to buy the best protection cover and in case you do not have all the add-ons then you need to purchase the plan that is useful in case you happen to meet an accident. Better deal also implies looking out for a plan with similar add-ons that is available at a low cost.
2. Poor service of motor insurer: While selecting your motor insurer, you need to consider that the insurance company has sufficient garages in the cashless network in different part of the city. Also, it has a good online presence coupled with an app that comes in handy at the time of crisis. The first consideration is important as in case you get your four-wheeler repaired at a garage which is not the part of the insurer's network then you will have to pay the garage at first and then later get the amount reimbursed from the insurance process, which is a time taking process. So, other than the basic add on including zero depreciation, engine protector and invoice protection , and insurance coverage you should check on these factors.
3. Insured Declared Value: IDV or Insured Declared Value is another term for sum assured value in the motor insurance industry which is payable in case of theft or total car loss due to an accident. So, it is advisable to look for the optimal IDV for your car and not settle for a lower IDV just in a lure of a lower premium amount.