What’s the grace interval in car insurance and what it means? – car wheel

What is the auto insurance grace period and why is it important? You can find out more here.

So do you know what the grace period is? Well, it is the auto insurance service provider's deadline to renew the policy after the plan expires! You can enjoy the benefits of the No Claim Bonus in the period that you may have earned in previous years because you have not made any claims. So how is that even possible? Well, to find out more about it, let's read below.qo00gquo "id =" story_image_main "src =" https://c.ndtvimg.com/2021-12/qo00gquo_car_625x300_14_December_21.jpg "/></p>
<h2>Here is a short one:</h2>
<p>So if you have earned a percentage discount on the premium amount because you did not do anything about the damage in the previous year, the discount will apply if you extend your policy in the grace period. However, you may not be able to make a claim during this specific period.</p>
<p>Even if you have extra time to renew the policy, it is essential to keep the vehicle insured as no one can guarantee the absence of unforeseen situations. This can include riots, hurricanes, theft, and more. Keeping the car insured all the time means you can get the financial help you need in the event of any unforeseen damage or loss. Also, if the policy is extended before it expires, the insurer would not be able to send someone for a car inspection.</p>
<p>Put simply, the grace period in motor insurance is around 15 to 30 days. And that depends entirely on the terms and conditions of the insurance company's policy. After this period you can renew the policy. However, in such scenarios, you will have to pay an additional amount of money.</p>
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