Car market leader Maruti has sold a record 1 million policies under 'Maruti Insurance', launched two years ago.
"Over 83 per cent of the new Maruti car buyers are opting for the Maruti insurance policy now and this has helped it grow over 75 per cent this fiscal," company officials said.
The insurance policy, where Maruti has tied up with
National Insurance and Bajaj Allianz, was taken by about 500,000 people in the first one and a half years.
Maruti Insurance is a car insurance product where the insurance claims are settled directly by the Maruti dealer workshop from where the vehicle is repaired.
At present, there are 4-4.5 million Maruti vehicles on the road, which would further fuel the growth as the existing Maruti owners preferred Maruti insurance when opting for renewal of policies, they said.
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