Did you change your residence recently? If yes, the change in your address should reflect on your vehicle insurance policy documents too. Check this post to know why and how to do it.
From shifting cities due to switching jobs to moving on to a new apartment, there can be numerous reasons to change your address. In such a situation, it is advised to communicate the change of address to your car insurance provider and update your policy documents.
Does Change in Address Impact Insurance Validity?
A car insurance policy purchased anywhere in India has pan India validity. This means changing your address does not impact the car insurance validity as long as you are within the geographical boundaries of India.
Why Should I Change the Address in My Vehicle Insurance Policy?
While it is not mandatory, it is advised to ensure that your change of address reflects in your policy documents for the following reasons.
- Receiving Communication
In the absence of any intimation regarding a change of address, your insurance firm may keep delivering vital communications regarding your vehicle insurance policy at your old address. As a result, you may miss out on a piece of important information, resulting in problems later.
- Effect on Policy Premium Amount
A vehicle insurance policy premium is calculated based on the car’s age, engine, etc. One important factor determining your insurance premium is the place or the Regional Transport Office (RTO) where your car is registered. In other words, your insurance premium can be higher or lower depending on the pin code of your residence.
This is because certain cities or areas can be classified as prone to a higher risk of damages in the form of theft or natural calamities like floods, landslides, etc.
Thus, a change in your risk profile might result in a higher insurance premium. Conversely, your car insurance premium may decrease if you relocate from an urban city to a relatively safer semi-urban city.
In the third scenario, your premium amount may remain unchanged if you shift to a city with similar risk profiles.
In any case, you should inform your insurance provider and let the insurance company decide on your premium amount.
How to Change Address in Car Insurance Policy?
- Change your address in your Registration Certificate (RC) by informing the RTO. Your new address should reflect on your updated RC.
- Inform your insurance firm about the change of address.
- Submit the new address proof along with the updated RC while applying for a change of address in your vehicle insurance.
You can also visit your insurance firm’s customer service request page and place an online request to change the address for communication.
While updating your address in your car insurance policy documents is vital, it is not a tedious or time-consuming task. You can easily get the required changes done through the process mentioned above and continue enjoying hassle-free coverage and quick claim approval in the time of need.