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Frequent Contributor
maheshkulkarni
Posts: 88
Registered: ‎02-08-2016

Premium in installaments for motor policy

If I want to pay my motor policy premium in installments. Is that feasible?

3 REPLIES 3
Frequent Contributor
reji
Posts: 114
Registered: ‎26-07-2016

Re: Premium in installaments for motor policy

I suppose the law under the insurance act,1938 does not permit acceptance of auto insurance premium in installments.

Frequent Contributor
Ena
Posts: 79
Registered: ‎26-07-2016

Re: Premium in installaments for motor policy

Usually, insurance companies allow you to pay using your credit card and you can convert the credit card payment into installments.

Occasional Contributor
VVidya
Posts: 9
Registered: ‎30-05-2017

Re: Premium in installaments for motor policy

Nowadays Insurance companies Provide EMI options on the Credit Cards. I bought Car Insurance from HDFC ERGO, at the payment option they provided me with different options to pay, like Debit/Credit Card/net banking/Jio Wallets/Paytm , 3 or 9 EMIs through Credit Cards which is really flexible.