Understanding mobile self-inspection and its benefits
Insuring your car is of utmost importance to protect yourself from third party liabilities in the event of an accident involving your car. There is no cap on the liability if a person is injured or killed in an accident caused by your car. The liability due to damage to third party property is capped at ₹7.5 lakh.
The consequences of not getting your car insurance done in time are worrying. The reasons for your car remaining uninsured are trivial. These include non-payment of premium, late payment of premium, and failure to renew. The renewal of a lapsed policy is troublesome. Renewal in time is very easy.
Renewing a lapsed car insurance policy is a long-drawn process. The car owner has to inform the insurance company and get a physical survey of the car done, which could take a few days. The survey of the car is the critical part of the process to renew a lapsed policy. Hitherto, this was the only choice. ICICI Lombard has now made renewing a lapsed policy a much easier process, which takes just a couple of hours.
Mobile self-inspection
ICICI Lombard has deployed a digital channel to make life cooler for a car owner even if the insurance policy has lapsed. Mobile app ‘Insure’ now has a ‘mobile self-inspection’ feature.
The car owner has to just pay revival premium online or through the mobile app, following which the customer is prompted to upload the self-inspection video via the Insure app. The policy is generated within a few hours after the self-inspection video is approved as per ICICI Lombard’s underwriting guidelines.
The benefits of mobile self-inspection facility on lapsed policies include:
- The requirement for physical inspection of the car by a surveyor gets eliminated
- The car owner is saved of the hassles involved in the manual process of renewing lapsed policy
- Car owner with a lapsed policy of any other insurance company can renew using this online channel
- Renewal time is reduced to a couple of hours from 2-3 days
- The car can again be used within a couple of hours and the owner does not have to bother about hiring a cab
The task of renewing a lapsed policy has now been eased, but that does not mean you could be carefree about your car insurance. Renew your car insurance policy in time. There is no alternative to it as your uninsured car exposes you to possible heavy financial liabilities.
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