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Insurance Article

How To Handle Car Insurance While Relocating

February 06 2018
Car Insurance While Relocating

Here are some tips that will ease you worries on relocating with car insurance

Relocating to another place is a stressful exercise. Unfamiliar surroundings, zero contacts and no local knowledge come together to form a perplexing mix. The situation can be overwhelming at times. Worrying about your car insurance would probably be the last thing on your mind.

But, it is not as tough as it seems, and the whole endeavour can be made a lot easier with quick thinking and a little research. Here are some tips that will help you deal with car insurance when moving from one city to another.

Inform Your Insurer

This is the most obvious thing that needs to be done. The insurer must be made aware of your new address. It is a compulsory measure that will ensure that all the communication regarding your policy reaches you. The information can consist of anything, from pertaining to your policy renewal to activities like claim settlement.

Impact On Premium

This is important as moving to a new area will also put you in a new zone. Your car insurance premium is determined based on zonal risk, as your zone changes, so will your risk. Zones coming under high risk will attract higher premium, and vice versa. Places having higher probability of natural disasters, car theft or vandalism are likely to lighten your wallet a bit more.

Identify Network Garages

If your car is damaged in an accident, it can be repaired at any garage in the country with the costs paid by the insurance company. However, this will require you to pay the costs first and then get the expenses reimbursed by the insurer.

Insurers also have ‘network garages’ or ‘cashless garages’ that will repair your car without demanding any payment from you. The repair bills are settled directly by the insurer with the service provider. These are very convenient to the customer, so always check if you have one near your new place of residence.

Reassess Your Cover

Shifting to a new place brings with it a change in your coverage requirements. The new city will probably have some conditions that are different from the one you were in before. The threat perception or risk of natural disasters might be more or less, which would require you to focus on a plan that would give appropriate protection from these concerns.

No Claim Bonus

When you don’t make a claim through an entire year, the insurer rewards you with a no claim bonus. Shifting to a new place will not rob you of this privilege. No claim bonus can be transferred to a new car and even to a new insurer (should you choose to switch).

Moving to a new location comes with its own set of challenges, and there’s a lot of problems that need to be taken care of. Having car insurance will at least ensure that your car repair bills are not one of them.

Related Article:

Different Types of Car Insurance Coverage
How Does Car Insurance Premium Get Calculated?

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