• IRDAI Redefines Long Term Comprehensive Insurance Policy For New Cars

    3 monthes ago - By Auto Savvy

    Back in September 2018, the Insurance Regulatory and Development Authority of India had issued an order allowing all general insurers to offer long-term comprehensive motor insurance policies to new car buyers. After almost two years, the order, which had numerous shortcomings, will see a major change from August 2020. A comprehensive motor insurance policy mainly consists of two covers: Third Party and Own Damage. Insurers were allowed to sell a bundled plan with 3-year validity for both the aforementioned covers. Another bundled plan was available consisting of a 1-year OD cover along...
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