Know more about Long term car Insurance 2019 | Before these update came many new car owners and old car owners had more doubts about these new long term car insurance which came to rule officially from 2019 September.
Initially to motivate the insurance buyers popular insurance companies showed some discount for buyers. But after September 2019 you have to pay full amount for those five years.
Actually this is for third party coverage only you have to pay for 5 years not your own insurance for vehicle. If your car is worth for 5K rupees of insurance for long 5 term then 4K is for third party.
Third party are the persons or the vehicles you have making damage for and the 1K for your own insurance. So in this new long term insurance the 5 years you are paying for third party but you have to pay yearly for your own car.
Maximum of car owners after 5 years not interested in their own cars insurance because their car is not worth as coverage but they will put only insurance for third party which is also known as comprehensive insurance. Even if you are owning an old vehicle you can also put a long term insurance for 5 years.
Even many debates regarding these long term insurance but according to experts they suggest they are the best when compared to yearly plans. Same insurance companies for long term is also having a discount advantage and a fans claim. This is government rules to compulsory third party insurance even though you have no interest in your own vehicle you have to cover for third parties even they are pedestrians or cycle riders or vehicle raiders you insurance will cover them too. But what ever you have to consider the reviews before you go for a popular insurance company. By the way consider our previous article regarding insurance necessary 2019.