Flying one place to another is one of the happiest moments for each life. Traveling with our loved ones is always a pleasurable moment and it seems an endless journey. Nowadays traveling accessories become the latest trend and up to minute fashion. Applying Vehicle insurance is one of the major things for all vehicle lovers.
Benefits for vehicle insurance
There are many benefits to applying for insurance. Let us see some of the benefits
- Third-party: Due to the third party, the vehicle owner faces the impact problems (like theft vehicle or accidental situation made by a third party).
- Natural disaster: Fire, flood, tsunami, and earthquake will damage our vehicle. We can insured vehicle insurance for a new one.
- Serenity and pleasure: Vehicle insurance will give pleasure and serenity to the riders. And also it makes the journey smooth when we feel like flying in the sky.
Long term insurance policy
This long term insurance policy was introduced in September 2018. The reason behind introducing the long term insurance policies is the insurance buyers should be independent of the renewal of their policy each year. They can renew their policies after three or five years from the applied date.
New rules of IRDAI
- From the 1st august 2020, the IRDAI establish the new rules and they prohibit the long term insurance policy, The reasons for denied the long term insurance policy by IRDAI.
- Due to the luxuries factor related to long term insurance policy, the vehicle owners cause challenges for genuine distribution in the policy package.
- In case of any injuries or accidental situations, vehicle owners should do not have the elasticity to recover their vehicles easily.
- Vehicle Insurance buyers become more inconvenient and dissatisfied due to the fluctuations in the structure of NCB.
Advantages of the new rule
- It is one of the customers friendly where the customers can easily reliable their vehicles in a single year.
- It gives relaxation to customers. They need not wait for a long period if any sudden damage occurs
Nowadays everything comes under online view There are many advantages to applying for insurance online. We can enter our data without paperwork.
At the current busy schedule, most people make their choice in online mode. It can save their precious time and it is perfectly suitable for busy workers.
when we applying through online we can easily able to know them better policy companies and their special features at the current period.
Safe and secure
When we enter our personal and bank details on the screen is makes us secure and protect from third parties.
The crystalline process will become more succor to the insurance buyers to enter detail like their own way so it need not put them to do any corrections at their verification.