2018
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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20
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12
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15
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25
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Detailed explanation-1: -15 Lakh, which is under the compulsory personal accident (CPA) coverage.
Detailed explanation-2: -Currently, all car owners are required to buy a personal accident cover of Rs. 15 lakh as per the guidelines issued by IRDAI or the Insurance Regulatory and Development Authority of India.
Detailed explanation-3: -The aim is to allow a wider choice to customers looking to purchase insurance for their respective vehicle(s). This will allow all general insurers to provide offer 3-year insurance policy for private cars and 5-year for two-wheelers, both co-terminus with motor third party liability cover.
Detailed explanation-4: -The car insurance in India starts at an average of about Rs. 2,400 per year.
Detailed explanation-5: -A basic Car insurance premium is the amount you pay to your insurance company on a regular basis, often every month or every six months, in exchange for insurance coverage. Once you’ve paid your premium, your insurer will pay for coverages detailed in the insurance policy, like liability and collision coverage.