Car buyers Vs Third party Insurance:
As per the news of Insurance Regulatory Development Authority of India, all the general insurers are strictly ordered to follow the changes in Third party insurance as per the rule of Supreme court orders. The insurance companies will give a cover for over 3-5 years which has a bundle of third partyo insurance as well as own damage insurance.
This has a great impact on car and bike buyers making the cost of cars and bikes costlier.It is expected to increase RS.24,000 for a new car and Rs.13000 for buying a new bike which is to be on effect from Sep 1,2018.
As per the news of Insurance Regulatory Development Authority of India, all the general insurers are strictly ordered to follow the changes in Third party insurance as per the rule of Supreme court orders. The insurance companies will give a cover for over 3-5 years which has a bundle of third partyo insurance as well as own damage insurance.
This has a great impact on car and bike buyers making the cost of cars and bikes costlier.It is expected to increase RS.24,000 for a new car and Rs.13000 for buying a new bike which is to be on effect from Sep 1,2018.
And finally, what is third party insurance? It is a type of liability insurance in which the insurance providing company guards the insurers from the claims of third party due to the loss or damage caused by us to their property.
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