How withdrawal of long-term motor cover will benefit the consumers

Older policies of three and five years will continue till expiry

From August 1, the Insurance Regulatory and Development Authority of India (Irdai) has decided to withdraw long-term policies offering both own-damage and third-party insurance for three years and five years for two-wheelers and four-wheelers, respectively — a move that can make things better for consumers in some ways.

Also Read: SBI will allow you to work from anywhere, will save 1,000 crore

Also, as Arun Singh Badhuria, head, motor insurance, Universal Sompo General Insurance says: “But the buyers of new private cars and two-wheelers must get the vehicle insured for third-party insurance for three years and five years, respectively.” The …

- Advertisement -DISCLAIMER
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at businessleaguein@gmail.com