News

The insurance regulator has some good news though for vehicle owners. Effective January 1, 2019, IRDAI has unbundled the compulsory personal accident (CPA) cover and permitted the issuance of a stand-alone policies. This move can reduce the cost of ownership of a vehicle. Here's how this can happen. As a policyholder, the premium of Rs 750 per annum for annual CPA cover for both cars and two-wheelers was to be paid. Now, effectively, this is the amount of savings if one already has a stand alone personal accident cover.

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