Lets Talk :(+91) 9892162702
back
FAQs

Non Life Insurance - Can motor policies be issued for a longer term than a year?

No policy can be issued for a period of more than one year ordinarily. However, for motor cycles and scooters only, the Act Policy in Form A, which is the minimum compulsory insurance required by law, may be issued on a long term basis. Such policies once issued remain valid up to the cancellation of the registration of the vehicle by the Regional Transport Authority (R T A).

This insurance is particularly useful for owners of comparatively older vehicles, for whom the Comprehensive Cover becomes a little too expensive considering the age and market value of the vehicle. The premium for such insurance is charged in accordance with the Long Term Act Policy Premium Schedule.

Contact Us

SABOO CONSULTANCY:
201,2nd Floor,Samarth House,opp.Kali Mata Mandir,
Bangur Nagar,Goregaon(West),Mumbai-400104, India.

sabooinsurance@gmail.com
saboo_lic@rediffmail.com
Mob.:(+91) 9892162702

Keep In Touch