Here are 4 key updates related to car insurance in India as of April 2024:

The Supreme Court has made it mandatory for people purchasing a new car after September 2018 to buy a third-party car insurance policy with a validity of three years, while comprehensive car insurance policies can still be purchased annually.

Usage-based "Pay As You Drive" (PAYD) car insurance plans are gaining popularity, allowing policyholders to pay premiums based on their actual driving usage, making insurance more affordable for those who drive less.

Demand for add-on coverages like zero depreciation and engine protection has surged, with 95% of brand-new car customers opting for zero-dep cover and 85% of owners choosing it for cars up to 7-8 years old.

Insurers are embracing artificial intelligence and machine learning for faster and more accurate car insurance claims processing, streamlining the overall experience for policyholders.

https://www.coveryou.in/motor-insurance