Your RTO details
RTO name
Code
City
Address
Pincode
Contact No.
  • City & RTO
  • Car Brand
  • Car Model
  • Car Fuel Type
  • Car Variant
  • Registration Year
Get Car Insurance starting at only ₹2,094/year #
Compare & Save upto 85%* on Car Insurance
  • Renew policy in 2 minutes*

  • 21+ Insurers to choose

  • 1.2Cr+ Vehicles Insured

Processing
    Other models
    Other variants
    Select your variant
    View all variants
      Secure
      We don’t spam
      View Prices
      Please wait..
      By clicking on “View Prices”, you agree to our Privacy Policy & Terms of Use
      Get Updates on WhatsApp
      Select Make
      Select Model
      Fuel Type
      Select variant
      Registration year
      Registration month
      Save & update
      Please wait..
      Search with another car number?

      We have found best plans for you!! Our advisor will get in touch with you soon.

      Long-term Motor Insurance set-to-go- Makes Insurance Cheaper from August 1

      The Insurance Regulatory and Development Authority of India (IRDAI) has recently announced the withdrawal of long-term third-party motor insurance packages with effect from August 01, 2020. This long-term motor insurance package included both ‘Motor Third Party’ and ‘Own Damage Insurances’ for 5 years on new two-wheelers and 3-years on new cars.

      Read more

      Supreme Court announced this long-term package was introduced on September 1, 2018. The long term implied 3-year motor third-party insurance for four-wheelers and a 5-year motor third-party for two-wheelers.  In 2018, the Supreme Court ordered a mandatory 3-year and 5-year cover in view that to ensure that vehicles running on the Indian roads. The insurers then started providing long-term insurance products to the customers.

      This included an option package of Own damage and third-party insurance policies on a long-term basis. The applicants had also started to complain about the premium since that Own damage prices are not regulated by the IRDAI and customers found the prices to be high.  

      This move will bring down the cost for consumers for first-year insurance for a new two-wheeler or four-wheeler. This move will also bring down the upfront cost for vehicle buyers, which is good news for consumers.

      According to the IRDAI, the distribution of long-term third party motor insurance policies is challenging as it is too expensive for a lot of vehicle owners. It was increasing the burden on policyholders, and with no flexibility, it was increasing the chance of being linked to loans or forced selling.

      There is no uniformity in the No-claim-bonus structure and this could lead to dissatisfaction and confusion amongst the policyholders. The insurers found the actual pricing to challenging for long term OD cover.

      Earlier, IRDAI had asked the motor insurance companies to give customers an option to choose between one year and multi-year Own damage plans. Now, the insurers won’t give customers an option to buy Own damage covers on a long-term basis. The Own damage cover offers insurance cover against physical damages to the vehicle due to accidents, theft, and natural calamities.

      Find similar car insurance quotes by body type

      Hatchback Sedan SUV MUV
      Save upto 85% on Car Insurance
      Search
      Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
       Why buy from policybazaar
      Claim Assurance Program

      Car insurance Articles

      • Recent Article
      • Popular Articles
      20 Jun 2024

      Top 5 Car Care Tips to Beat The Summer Heat

      The extreme heat and constant heat wave warnings have made

      Read more
      11 Jun 2024

      How to Check Car Owner Details By Registration...

      Scenarios like hit-and-run accidents or purchasing a second-hand

      Read more
      21 May 2024

      Get Faster Claim Settlement with Policybazaar...

      Getting your car insurance claim settled is no longer a hassle

      Read more
      17 Apr 2024

      Understand the Nitty-Gritty of Car Insurance...

      Have you recently purchased a car insurance policy for your new

      Read more
      22 Feb 2024

      IDV in Car Insurance

      In layman's terms, the IDV full form is the Insured Declared Value

      Read more

      How to Check Car/Vehicle Insurance Status Online

      It doesn’t matter if you are an excellent driver or take your car out only once in a few months; your vehicle must

      Read more

      Getting Your Duplicate Car Insurance Policy is...

      Losing your car insurance documents can be daunting. In such a state of affairs, the first thing that comes to your

      Read more

      How To Find Car Insurance Details By Registration...

      Sometimes, you may face situations when you need car insurance or vehicle owner details but cannot readily access

      Read more

      How to Transfer Car Insurance Policy?

      An integral part of selling a car for both the buyer and the seller is ensuring a successful car insurance transfer

      Read more

      How to Check Car Owner Details By Registration...

      Scenarios like hit-and-run accidents or purchasing a second-hand car require you to find car owner details by number

      Read more

      #Rs 2094/- per annum is the price for third-party motor insurance for private cars (non-commercial) of not more than 1000cc

      *Savings are based on the comparison between the highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB. Actual time for transaction may vary subject to additional data requirements and operational processes.

      ##Claim Assurance Program: Pick-up and drop facility available in 1400+ select network garages. On-ground workshop team available in select workshops. Repair warranty on parts at the sole discretion of insurance companies. Dedicated Claims Manager. 24x7 Claim Assistance.

      top
      View Plans
      Close
      Download the Policybazaar app
      to manage all your insurance needs.
      INSTALL