Published in Economic Times. The Insurance Regulatory and Development Authority of India (IRDAI), on Monday, proposed a slew of changes that, if implemented, can make long-term motor insurance policy a simpler product. It also gave much needed clarity regarding buying and renewing own damage motor insurance covers. Expiry of the OD cover should not be […]
Articles Tagged: motor insurance policy
How to use NCB of old car insurance to reduce new car policy premium
Published in Economic Times. You can use the no claim bonus (NCB) earned on the comprehensive insurance policy of your existing or old car to reduce the premium payable when you buy comprehensive insurance for a new car. All it requires is some planning and it’s worth it because if you have a 50 percent […]
Pros and Cons of Buying Car Insurance Online
Purchasing a car might have been your dream since your childhood. Now that you have accomplished it, it is necessary to secure your most prized possession through a Motor Insurance policy which is legally mandatory for every car owner. Given the increased reliance on the internet in today’s world, most General Insurance companies have expanded […]
Own damage motor insurance can now be bought separately
Published in livemint on 25 Jun 2019. Come September 1, motor vehicle owners will be allowed to purchase standalone own damage (OD) insurance cover. An OD cover insures the vehicle against theft and damages. The guidelines will be applicable for all new and old cars and two-wheelers. At present, the industry practice is to bundle OD insurance with […]