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Car insurance plays a vital role in the ownership of a vehicle in India, serving as a crucial component for financial security and legal adherence.
Insurance companies in India offer multiple car insurance plans that cater to the particular needs of the buyers. But selecting the right policy can be challenging. In India, insurance companies have various plans with varied attributes.
With so many cars plying in India resulting in increased accidents every year, the importance of car insurance policies in India cannot be stressed enough. To be a legal driver in India, it’s mandatory for any new or used car to be covered under a car insurance policy.
The Supreme Court in India along with the Insurance Regulatory and Development Authority of India (IRDAI) laid out fresh norms related to long-term car insurance. As a result, a few of the general insurance companies came up with long-term car insurance policies.
Buying car insurance for the first time could be a challenging situation for many car owners, considering the vast number of insurance products offered by numerous insurance providers.
The life and property of an individual are surrounded by the risk of death, disability or destruction. These risks may result in financial losses. This is when insurance comes into the picture, as a way of managing risks.
According to the Indian Motor Vehicles Act, all vehicle owners – bikes, scooters, cars, trucks – must hold a valid insurance policy.
Bajaj Allianz 3-year long term two-wheeler policy – All you need to know about Its benefits, policy coverage and how to apply.
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