Buying a car? Opt for bundled auto insurance with 1-year own damage cover

Avoid comprehensive products that offer long-term own damage and third-party liability

If you are buying a car or two-wheeler now, you will need to buy long-term insurance compulsorily. After the recommendations of a Supreme Court panel, the Insurance Regulatory and Development Authority of India (Irdai) had directed insurers to offer three- and five-year third party liability covers for new cars and bikes, respectively. While most insurance companies are still in the process of launching products that comply with the new rules, som have already hit the market.

Two- and four-wheeler buyers will now get three options to choose from. They can go for a third-party cover for three years, which will