{"id":40011,"date":"2019-02-14T15:51:51","date_gmt":"2019-02-14T10:21:51","guid":{"rendered":"https:\/\/www.newsilike.in\/?p=40011"},"modified":"2019-02-14T15:51:54","modified_gmt":"2019-02-14T10:21:54","slug":"3-year-third-party-car-insurance-rule-3-things-to-know","status":"publish","type":"post","link":"https:\/\/www.newsilike.in\/3-year-third-party-car-insurance-rule-3-things-to-know\/","title":{"rendered":"3 Year Third-Party Car Insurance Rule : 3 Things to Know"},"content":{"rendered":"\n
\"Car-Insurance-Policy\"<\/figure>\n\n\n\n

A long term third party car insurance\nplan can prove to be very beneficial for you. However, before you get such a\ncover, do remember to do adequate research as some of the features of this\ncover are quite different from the features of a regular third-party plan.\nListed below are three of the most crucial long term third party insurance\nfacts that you must know when you opt for such a plan. Take a look.<\/p>\n\n\n\n

3 important rules of 3-year policy car insurance <\/h2>\n\n\n\n

Here are the top three laws:<\/p>\n\n\n\n

#1 Long-term insurance is compulsory for new\nvehicles<\/h3>\n\n\n\n

If you have bought your vehicle after September 1, 2018, you have to get a long-term third party cover. This is now a compulsory thing to do. Even if you buy a shorter comprehensive cover, the third party component of the premium needs to be paid upfront for the next three years. You will, therefore, find your car insurance premium to be higher in the first year, but it will get more economical in the next two years. This rule only holds true for newer cars. For older cars, the shorter policies are still available. Even if you wish to renew your car insurance policy, you need not to get a three-year third party insurance<\/a> cover. <\/p>\n\n\n\n

#2 The policy cannot be cancelled<\/h3>\n\n\n\n

Once you pay your premium and get the three-year third party cover, the insurance provider cannot cancel your coverage. You will have a valid third party car insurance<\/a> cover for the next three years for sure. The IDV of the vehicle will, therefore, be taken in the first year\u2019s value and the coverage will continue for the next few years. <\/p>\n\n\n\n

#3 You have to pay only the third party premium<\/h3>\n\n\n\n

When buying the policy, you can choose\nbetween the types of insurance covers. So you can either choose a third party\nplan or a comprehensive plan. If you choose a comprehensive plan, you have to\nonly pay the third party premium for three years. The comprehensive premium can\nbe paid yearly. This is an important point to remember while looking at and\nchoosing the right types of insurance covers for your vehicle. <\/p>\n\n\n\n

Keep these important rules in mind before\nyou look for your ideal car insurance cover online. <\/p>\n\n\n\n

Advantages of long term covers<\/h2>\n\n\n\n

Here are some advantages that you get\nwhen you opt for three years of third-party insurance plan:<\/p>\n\n\n\n

Don\u2019t bother about renewals<\/h3>\n\n\n\n

You don\u2019t have to bother about renewing\nyour plan every year. You can get the long term cover and renew only once every\nthree years. <\/p>\n\n\n\n

It is cheaper<\/h3>\n\n\n\n

Insurance providers usually offer about a\n25% discount on the car insurance premium when you opt for a long term plan.\nThis helps you save money quite significantly. <\/p>\n\n\n\n

Better NCB deals<\/h3>\n\n\n\n

In a regular policy, you get only 35% NCB\nat the end of a three year period. however, in the long term types of insurance\nplans, you get 40% NCB after you complete three claim free years. You also get\nstronger riders that protect your NCB if only one claim is made in three years.\n<\/p>\n\n\n\n

These are some very logical benefits of\ngetting a long term car insurance cover. Do keep them in mind when you go\nshopping for your new plan. <\/p>\n\n\n\n

The Bottom Line<\/h2>\n\n\n\n

It is very important for you to\nunderstand how car insurance works. The rules keep changing from time to time\nand you must stay updated with them. The recent ruling regarding the compulsion\nof long term policy coverage is something you have to be aware of. So do some\nresearch, understand the covers and then proceed to buy the plan. Also, run a\ncomparison to see which plan is available at what rate. that will help you find\nthe best possible car insurance policy at the most affordable rates for sure.<\/p>\n","protected":false},"excerpt":{"rendered":"

A long term third party car insurance plan can prove to be very beneficial for you. However, before you get such a cover, do remember to do adequate research as some of the features of this cover are quite different from the features of a regular third-party plan. Listed below are three of the most…<\/p>\n Read More<\/span> 3 Year Third-Party Car Insurance Rule : 3 Things to Know<\/span><\/a>","protected":false},"author":2,"featured_media":40012,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"Layout":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[5220],"tags":[],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/www.newsilike.in\/wp-content\/uploads\/Car-Insurance-Policy.jpg","_links":{"self":[{"href":"https:\/\/www.newsilike.in\/wp-json\/wp\/v2\/posts\/40011"}],"collection":[{"href":"https:\/\/www.newsilike.in\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsilike.in\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsilike.in\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsilike.in\/wp-json\/wp\/v2\/comments?post=40011"}],"version-history":[{"count":0,"href":"https:\/\/www.newsilike.in\/wp-json\/wp\/v2\/posts\/40011\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsilike.in\/wp-json\/wp\/v2\/media\/40012"}],"wp:attachment":[{"href":"https:\/\/www.newsilike.in\/wp-json\/wp\/v2\/media?parent=40011"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsilike.in\/wp-json\/wp\/v2\/categories?post=40011"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsilike.in\/wp-json\/wp\/v2\/tags?post=40011"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}