Long-term Third-Party, Own Damage motor insurance cover proposed: Know proposed features, price, premium

In order to allow the policyholders a wider choice, IRDAI has proposed to permit all general Insurers to offer long-term motor insurance policies — a) 3-year in respect of private cars co-terminus with motor Third Party Liability cover, b)5-year in respect of two-wheelers co-terminus with motor Third Party Liability cover.