Keeping the policy alive and kicking
The Hindu
Package and multi-year policies offer convenience and practicality while buying, maintaining your insurance covers
Some time ago, the Madras High Court ordered all vehicles in the State of Tamil Nadu to be sold only with a ‘five-year, bumper-to-bumper’ cover. That order is now on hold as insurers have asked for time to design such policies and get the required regulatory permissions.
The court’s idea was for a multi-year policy with a bundle of covers. We had explained in Cover Note in the edition dated September 6, how such bundled, or package, policies can serve us better and can offer more efficient pricing.
Multi-year policies have the added advantage of protecting us from our own forgetfulness to keep our insurance renewed!
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