Insurance

7 Positive Impacts of Long Term Third Party Car Insurance

12/19/2018 RAWAT 0 Comments


Third party car insurance is a legal requirement in India. A recent Supreme Courtruling has now made it possible for you to buy a long-term third party insurance plan for your vehicle. There are many benefits of getting a long term cover. Let’s find out what they exactly are.

Positive impacts of long term third party insurance

  1. Continued cover: A regular third party car insurance plan only offersone-year coverage. You need to renew your cover every year. If there is a delay or a miss, your vehicle becomes uninsured. There are way too many dangers associated with an uninsured vehicle. This is why a long term plan is handy. You stay protected in a continuous manner for a long time.

  2. You don’t forget to renew: Forgetting to renew your third party cover is a common problem. But when you opt for a five year or even a three year plan, you don’t have to worry about renewing your vehicle insurance policy on time every year. You can buy it once and then forget about it for the next few years. However, do keep an eye on the renewal date  and renew it when the three or five year period is nearing its end.

  3. Protection against inflation: As is commonly known, car insurance prices increase every year. So when you buy a long-term third party car insurance online plan, you are protected against such inflation. You pay the premium all at once for the next three or five years. Even if the premium in this period, you won't be affected.

  4. Hassle free insurance cover: The availability of third party car insurance online has made it very convenient for everyone to own a cover these days. However, it still requires some time and effort to go and renew your car insurance plan from time to time. A long term plan makes it completely hassle-free and you don’t have to complete this process every year.

  5. Increase in Premium due to lapsed policy: When you forget to renew your car insurance plan on time or it lapses for some other reason, you have to pay the premium of buying a fresh policy. When you buy a long term third party cover, this problem is tackled. You don’t have to worry about lapses and fresh policies.

  6. Cost effective: Insurance providers often offer discounts when you buy a vehicle insurance plan for three or five years. This is done to ensure they retain their customers for that long a period of time. So you can opt for such a plan and get some handy discounts on your third party car insurance cover. Compare your options to see which insurer offers the best price, along with the discounts. You will then be able to find the best deal with ease.

  7. Easy to own: You can easily buy and maintain a long term third party car insurance policy. You can buy the plan online in just a few minutes. This makes it easy to own a long term plan. You basically spend a few minutes buying the plan and then stay protected for the next few years. Sounds fantastic, does it not?
Conclusion

As you can see, there indeed are many positive impacts of a long term vehicle insurance plan. So next time when you renew your cover or buy a new one, do consider taking a long term third party insurance plan. You can make some very useful savings. You can also enjoy an uninterrupted car insurance coverage. And finally, you will enjoy a hassle free experience overall with your third party car insurance cover.