VEHICLE AND HEALTH INSURANCE POLICIES RENEWAL DATE EXTENDED TILL MAY 15: RENEW YOUR POLICIES SOON

Are your health and vehicle or motor insurance policies expiring between March 25 and May 3 but you were unable to renew your policies in this time period due to Nationwide lockdown then you can renew your motor and health policies by May 15.

According to a notification issued by Finance Ministry on April 15, 2020, the health and motor insurance renewal dates that fall in between March 25, 2020 and May 3, 2020 have been further extended till May 15, 2020 due to the ongoing situation in the country.

If your current mandatory third party motor insurance policy is expiring between March 25, 2020 and May 3, 2020 but you were unable to renew your policy because of the Nationwide lockdown, then you can renew it on or before May 3, 2020 to prevent the policy from lapsing.

If you don't renew your third party motor policy then you may be liable for a penalty of Rs. 2000/- under the new Motor Vehicles (Amendment) Act. Also when the third party motor insurance is not in force in case of damage to a third party, someone else's vehicle, property or death of a third party or person, you will be liable to pay the entire compensation from your own pocket.

Similarly in case you do not renew your health policies on time then you will not get the benefits of the policy that you subscribed to. So, renew your policies on time to avoid the hassles of late fine or premium hike.

Vehicle insurance means car insurance, bike insurance, any two-wheeler motor insurance etc.

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