Awareness is key to reduce your car insurance premium

You can ask for higher discount even based on your car model. It’s not just the price that you should consider while buying a car, but factor in what is known as ‘cost of ownership’, which includes fuel prices and possible hikes, average minimum distant that one has to cover per day and insurance. An insurance policy is all about being adequately covered for eventualities.

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Motor Third Party -Need To View Differently


Since revision in MV Act in the year 1988, incorporating of certain amendments with regard to limit of liability, time limit for filing claim petition, selected defense made available to insurers, widening of jurisdiction clause etc. are all together leading to high Incurred claim ratio in this segment and thus putting pressure on insurer’s financial performance in this global environment, particularly when self sustainability of each segment becomes of paramount importance and also a talk of the day.

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Motor Insurance Business – A bleeding portfolio worsening after liberalization

The origin of Motor Insurance began in 1895 in England. It is surprising to note, when he motor vehicles started its operation, General Insurance Corporation was the first company to transact motor insurance business after the World War I, there was a considerable increase of motor vehicles in all the countries, resulting in increase in number of Road accidents.

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