“Enquiries through the online channel have nearly doubled in the past month,” adds Roopam Asthana, CEO and Wholetime Director, Liberty General Insurance.This is not surprising given the steep penalty that awaits those driving a vehicle without the mandatory third-party liability cover. Subsequently, the Insurance Regulatory and Development Authority of India (Irdai) directed insurers to offer long-term third-party liability covers for new vehicles last year. Renewing a lapsed, or break-in, own damage element of a comprehensive cover is slightly more elaborate. “Disputes cannot arise in case of thirdparty claims as it’s the motor tribunal that takes the call,” adds Chowdary. This is to eliminate any scope of misuse by some who may decide to buy the policy after an accident,” explains Chowdary.Finally, ensure that you do not repeat the mistake of letting a motor policy lapse to avoid the hassles.

Source: Economic Times September 30, 2019 00:56 UTC