Multiple cars, one policy: Irdai's latest announcement a boon for many

The upper middle class and the rich will be happy with the Insurance Regulatory and Development Authority of India’s (Irdai’s) latest announcement - the unbundling of compulsory personal accident (CPA) cover. 

Starting from January 1, 2019, vehicle owners will be able to purchase a standalone CPA cover. The CPA cover will also be available with the third-party liability policy and the comprehensive policy (third party plus own damage), as it is today. However, customers who have bought a standalone CPA policy worth Rs 1.5 million or more will not have to buy it again when they buy a motor vehicle