Motor Floater Insurance Policy: If you are using more than one car, bike then this news will be comforting for you. Let us tell you that you take a separate motor insurance policy for each of your vehicles, but now it is not needed. Now you can cover all the vehicles by taking a single insurance policy.
The Insurance Regulatory and Development Authority of India (IRDAI) has allowed insurance companies to launch Motor Floater Insurance Policy. IRDAI has issued a notification in this regard.
what is the policy
Motor floater policy is also similar to mediclaim floater policy. Health insurance cover is given to all the members of a family in a single policy. Similarly, in a motor floater policy, all the vehicles of a person get insurance cover. If the insurance experts are to be believed, then with the introduction of floater policy, the total expenditure on insurance has come down. Companies charge less premium when more vehicles are insured.
it will be necessary
Motor Floater Policy The condition for buying a motor floater policy is that all the vehicles should be registered in the name of only one person. An executive of a General Insurance Company says that 5 vehicles are insured under one policy. But in this, the vehicle owner does not need to remember different expiry dates and different premiums of insurance of different vehicles. Floater policy can be taken for both two wheeler and four wheeler.
will get benefit like this
After the notification of the Insurance Regulatory and Development Authority (IRDAI), now the insurance companies will make the terms and conditions of the motor floater policy. In which all the vehicles in the name of a person under the motor floater policy should be included in the insurance. Also the premium will be cheaper in this policy.