Car Insurnace: The price of the car is not increasing, the cost of the premium of car insurance is also increasing very fast. If you are also troubled by the growing premium of car insurance, then we are telling you a great trick today. By adopting this, you can reduce the cost of your car insurance. Also, year after year, you can also be free from the mess of renewing insurance. Now how will this happen? Let us tell you that many insurance companies are now providing cover at once for 3 years. You can not only take advantage of insurance at low cost but also take other benefits. Let’s know about the 3 -year policy.
How this policy works
The 3-year car insurance policy provides a combination of both on damage (OD) and third-party (TP) cover for the entire three years. Originally, it changes the earlier structure, in which TP insurance was valid for three years, but OD coverage had to renew annually, three with already compulsory three -year TP cover for new cars, three with three years of TP cover for new cars. The OD cover of the year is bundled. This means that there will be no need to renew the policy every year.
Big savings on premium
The first and most important thing is that by taking a 3 -year insurance policy, you can save a big savings on the premium. In this policy, policy holders get the benefit of up to 10% discount on premium. For example, if the annual OD renewal increases 5–10% every year, the plan of three years keeps the cost stable and also gets a discount of up to 10%. In this way you are able to save a lot of good. This is beneficial for those who want to save on motor insurance while keeping their vehicles safe for long periods. Not only this, even if you claim, the premium remains locked for 3 years, while the latter premium may increase after claiming 1 year of OD policy.
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