India Car Insurance Market Analysis, Opportunities, Share, Growth, Size, Trends and Forecast
Expanding fleet of cars along with increasing incidents of road accidents to drive India car insurance market until 2024. According to TechSci Research report, “ India Car Insurance Marke t By Vehicle Type, By Type, By Source, By Premium Type, Competition, Forecast & Opportunities, 2024 ”, India car insurance market is expected to grow at a double-digit CAGR on account of growing automotive sales and mandatory insurance of vehicle as per motor vehicles act 1988. Important Aspects of the India Car Insurance Market Automotive insurance is generally a contract between the vehicle owner and the insurance company, protecting the vehicle against financial loss in case of theft or accident. Generally, car insurance is valid for one year, which needs to be renewed by the due date, post which the renewal of insurance involves an inspection of the vehicle. Also, if the insurance is not renewed in 90 days, a customer might lose the claim to no claim bonus. B...