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Contributor
Parth Jaiswal
Posts: 37
Registered: ‎09-06-2017

What is the period of the Motor insurance policy?

What is the period of the Motor insurance policy?

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Contributor
Anurag Pandit
Posts: 23
Registered: ‎23-08-2017
Solution

Re: What is the period of the Motor insurance policy?

A motor policy is usually valid for a period of one year and has to be renewed before the due date. Pay the premium on time. No Insurer offers a grace period for paying the premium. In case of lapse of policy by even one day, the vehicle has to be inspected. Moreover, if a comprehensive policy is allowed to lapse for more than 90 days, the accrued benefit of NCB (No Claim Bonus) is also lost

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Contributor
Anurag Pandit
Posts: 23
Registered: ‎23-08-2017
Solution

Re: What is the period of the Motor insurance policy?

A motor policy is usually valid for a period of one year and has to be renewed before the due date. Pay the premium on time. No Insurer offers a grace period for paying the premium. In case of lapse of policy by even one day, the vehicle has to be inspected. Moreover, if a comprehensive policy is allowed to lapse for more than 90 days, the accrued benefit of NCB (No Claim Bonus) is also lost

View solution in original post