Long-term insurance for cars, two-wheelers: Why it is good for customers

From September onwards, you will be able to buy five-year insurance policies for two-wheelers and  two-year policies for cars. The Supreme Court has made it mandatory for new cars, bikes and scooters to have long-tenure third-party insurance. While the insurance regulator is yet to finalise the guidelines, most insurers believe that the long-term policy is likely to be a comprehensive cover. “Splitting the third-party (TP) and own damage cover (OD) would require a change in many regulatory provisions, which may not be possible by the Supreme Court deadline” says Puneet S.....

Key stories on business-standard.com are available to premium subscribers only.

Already a premium subscriber?

Subscribe to get an across device (Website, Mobile Web, Iphone, Ipad, and Android Phone applications) access to Premium content, Breaking News alerts, Industry Newsletters, Stock and Corporate news alerts, access to Archives and a lot more.