What is the 4-layer motor insurance cover coming into effect from Dec 15?
IRDAI introduced a four-layer structure of vehicle insurance which policyholders can choose from starting December 15. The mandatory first section covers owner's liability to third party for injury or death in an accident while section 2 is optional and covers liability to passengers in insured car. Section 3 includes personal accident cover and section four covers damage to insured vehicle.
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