Customers will be entitled to get an assured discount of 30% for 3-year policy and 20% for 2-year policy in each case on the basis of various underwriting factors like anti-theft device, location, purpose of use, etc. In addition, if there is a bonus entitlement due to no-claim in the preceding year, discounts can even reach up to 50%. By opting for a long term insurance period, insured is protected against the possible rise in premium rates during the policy tenure. There is an option to switch over to either 1 or 2 years plan after the expiry of the long-term policy.
Source: This news was published on April 16, 2015 in business-standard.com under the title: New India launches long-term comprehensive two-wheeler policy
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