Relocation or shifting cities is an emotionally draining process. Leaving the place that you have considered as your home to move in a place where everything is almost unknown, the people, the locality and more can get strenuous. Even those who frequently relocate may agree that starting over is the taxing part of the process. When you are moving cities, there are quite a few legal documents that you need to amend to reflect your new place of residence. This includes car insurance too. It might slip out of your mind, but with this article, you exactly know the points to look for in your car insurance policy when relocating cities.
#1 Upgrade your policy
Although your car insurance policy is valid across India, you should reconsider when moving cities. For instance, your relocation to a traffic dense city may mean more risk of accidents and damages to your car. As you move up the tier, the density of traffic as well increases. Upgrading from your basic third-party coverage to a comprehensive plan can help insure against unexpected liabilities. Further, comprehensive plans will help to protect against the losses due to theft and other natural perils too.
#2 Strengthening your policy coverage
Add-ons are complementary to your existing comprehensive insurance plans. These features fortify your policy to include a wider range of events under your policy coverage. When you upgrade your policy, ensure you purchase only essential add-ons. Some add-ons may not be useful and end up increasing your premium. For example, the new place where you are relocating is prone to flooding and thus buying an engine protection add-on will be a necessity rather than an option. Add-ons are an excellent way to customise your policy just as you need it.
#3 Reconsider your insurance company
If your car insurance renewal is due around the time you are relocating, reconsider the plans offered by your existing insurance company. There are myriad choices from which you can select a suitable policy. Moreover, buying car insurance online has further simplified the process of availing an insurance cover. You can compare the various alternatives using tools like the car insurance calculator offered by insurance companies. Also, digitisation in the insurance sector has helped reduce the erstwhile tedious and time-consuming process of making claims to now smartphone enabled claim settlement process.
#4 Obtaining NOC from the Regional Transport Office
If you are moving states in the process of relocation, you need to obtain a No Objection Certificate (NOC) from the Regional Transport Office (RTO) where it was registered earlier. On obtaining the NOC, you now need to register in the new state once again.
#5 Inform your insurance company
Most individuals skip on informing their insurer about these changes. Even though your policy generally covers the whole country, zone-specific premiums might differ. Also, any intimation by the insurer shall be ensured it is rightly delivered at your address.
Keep in mind the tips mentioned above for a hassle-free relocation. Make sure you amend the necessary documents while not ignoring your car insurance policy.
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