What are the benefits of a long-term car insurance policy?
In order to curb the total number of non-insured cars, the Supreme Court of India has mandated all vehicles bought after the 1st of September 2019 to be covered by a long-term car insurance policy.
Here are some of the key benefits of a long-term car insurance policy:
Your premium stays the same for 3 years
You can choose a policy tenure of 2 years or 3 years as per your convenience
You save money on administrative and policy-issuing costs
The No Claim Bonus structure of a long-term car insurance policy is much better as compared to the standard one-year plans.