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Car Insurance Policy Renewal

08 September, 2019

Car Insurance in India, apart from being legally mandated, offers a great deal of protection to the owner-drivers. Following are some of the coverages provided:


  • Loss or Damage to the vehicle due to fire, accident, theft, explosion, natural disasters, riots, terrorism, etc.
  • Any financial liability arising from death or injury to a third party by the insured vehicle, and damage to the third-party property by the insured car.
  • Personal Accident Cover for owner-driver up to ₹15,00,000.


A Car Insurance Policy is an agreement between the insurer and the insured for a specified period. Once the time elapses, the coverage stops. In this case, you need to renew your insurance policy. You can renew your car insurance policy either with the same provider or with any other car insurance provider.




As mentioned earlier, you may continue with the same provider or renew your policy with some other insurer.




If you want to renew your Royal Sundaram Car Insurance policy, you can now complete your renewal in 3 easy steps. Visit https://www.royalsundaram.in/ and select “INSTA RENEW.”

  • Input your Policy number and Expiry date.
  • View your policy details and Premium amount.
  • Process your online payment.


Follow these 3-easy steps to renew your Royal Sundaram Car Insurance.




If you wish to renew other company’s car insurance with Royal Sundaram:

  • Visit https://www.royalsundaram.in/ and select “Car Insurance.”
  • On the next screen, select “Other Company Renewal” and input your details of your car and your personal information.
  • Select the type of cover and click on “Get Quote.”
  • Opt for the required add-ons, if any and get the premium amount quote.
  • Provide all the relevant information and make the payment.


Your car insurance policy will now get renewed with Royal Sundaram, and you can avail one of the best car insurances coverages in India.




If you fail to renew your car insurance in time, it will lapse, i.e., you are no longer covered by insurance. In case of policy lapse, the insurance will not cover any monetary losses caused by damage or theft of the vehicle or third-party damages; you will have to bear these costs. However, it is possible to renew a lapsed car insurance policy.


  • Go to the Royal Sundaram website - https://www.royalsundaram.in/ 
  • Select “Car Insurance
  • Select “Insta Renew” or “Other Company Renewal” as applicable
  • Input all the necessary details
  • Here, as car insurance has already lapsed, you will have to provide a “Vehicle Inspection Report.” You can easily get a VIR by uploading the pictures of your car through the Royal Sundaram app. In case of a satisfactory VIR, your lapsed car insurance policy will be renewed with Royal Sundaram.




  1. Compare:
    Always compare policy details and premium amounts of multiple insurance providers before finalizing any car insurance policy for your renewal.
  2. Keep details handy:
    Keep your policy number and other details handy to ensure speedy renewal.
  3. Avail discounts and offers:
    Keep an eye on various offers and discounts provided by insurers for online policy renewals. Being a member of the Automobile Association of India can earn you a discount of 5% (up to Rs. 200) on OD premium.
  4. No Claim Bonus:
    Insurance companies provide a “No-Claim Bonus” if you have not filed a single claim during the policy tenure. Do not forget to avail NCB while renewing your policy.
  5. Add-ons:
    Buy relevant add-ons with your policy. Companies provide add-on features like engine protection add-on, CNG or bi-fuel kit protection cover, depreciation waiver cover, windshield glass cover, tyre cover, paid driver cover, occupants’ cover, etc. along with the base policy.
  6. Claim Settlement Ratio:
    Always buy a car insurance policy with a provider that has the maximum claim settlement ratio and a seamless claim settlement process.
  7. Network Garages:
    Opt. for the insurance provider with a high network of cashless garages for hassle-free repairs.




Three reasons – legal mandate, financial support and continuation of policy benefits.

  1. Legal Mandate: As per the Motor Vehicles Act, 1986, having a valid third-party insurance policy is mandatory for every car on Indian roads. If you are caught driving without a valid insurance policy, you can be fined or even imprisoned. The fine for driving without insurance in India is:
    1. First Offence - ₹2000 and/or 3 months imprisonment
    2. Second Offence - ₹4000 and/or 3 months imprisonment
  2. Financial Support: The financial liabilities arising from damage to the car, theft of the car, replacement/repair of car’s components, third-party claims, etc. can be steep. A fully comprehensive car insurance policy takes care of these expenses, and you don’t have to pay them from your own pockets.
  3. Continuation of policy benefits: Certain policy benefits like No Claim Bonus are applicable at the time of policy renewals. NCB is awarded as a discount on the OD premium component. NCB is a progressive benefit – 20% for the first claim-free year, going up to 50% for five consecutive claim-free years. If you fail to renew your policy on time, you lose all the accumulated NCB.




Let us first understand the types of car insurance coverages –

  • Third-Party Car Insurance:
    This is a basic insurance plan that covers only third-party financial liabilities that arise from death, injury, and damage to third-party. Third-party cover is the bare minimum legal requirement for plying your car on roads.
  • Comprehensive Car Insurance:
    This cover protects the owner-driver against any damage, theft or loss of the car, and personal accident cover for the owner, along with the third-party liability cover. It is a wholesome cover that gives thorough protection to the vehicle, owner, and third-party.


Now, looking at the cost of renewal premium, comprehensive car insurance policy premium is dependent on factors like the –


  • Insured Declared Value
  • Age of Car
  • Make and model
  • Area of registration
  • Add-ons
  • Discounts

However, third-party car insurance premium rates are decided and declared by the IRDAI. The rates are based on the cubic capacity of the car engine, the higher the cubic capacity, the higher the premium. The third-party car insurance rates for 2019-2020 as declared by IRDAI in June 2019 are as follows:


Cubic Capacity of the CarThird-Party Insurance Premium
Up to 1000cc₹2072
Over 1000cc up to 1500cc₹3221
Over 1500cc₹7890





  • Convenience:
    You can renew your car insurance policy online from the convenience and comfort of your home. You get all the information at the click of a button. You can read the policy details, analyse the inclusions, look at the reviews of users, and ascertain the extent of coverage, all from the convenience of your computer screen.
  • Clarity:
    Online renewal ensures that you find all the policy information at one place and thus, have clarity regarding the coverages, prices, and other conditions.
  • Comparison:
    You can use the multiple online aggregator websites to compare the policies of various insurers and find the one that best suits your requirements.
  • Cost–Effective:
    Online renewal opens a plethora of car insurance policy choices for you. You can compare the prices and choose the most cost-effective premium for your car insurance renewal.

Online car policy renewal is thus, fast, convenient, safe, and cost-effective. Renew your car insurance online in time and avail break-free coverage.