Private sector general insurer Royal Sundaram has announced the launch of two-wheeler long term package policy upon payment of single premium.
"The two wheeler long term package policy will cover the accidental loss or damage to the two wheeler and also covers liability to third parties and personal accident cover", a company said in a statement.
"Royal Sundaram's new Two Wheeler Long Term Package Policy is an all encompassing product that offers compound benefits with hassle-free renewals at reasonable cost", Royal Sundaram General Insurance, Managing Director, M S Sreedhar.
According to Royal Sundaram Country-Head (Underwriting and Claims-Motor), S Thirunavukarasu said as per industry projections about 75 per cent of two-wheeler users do not renew their insurance policy 'regularly'.
The two wheeler long term package policy by Royal Sundaram offer excellent benefits, ease and convenience to buy and product provides a long term benefit, he said.