As of now, people at large consider insurance as an expenditure and want to have saving over it. But inusrance is a risk bearing and risk spreading mechanism, which pays in the event of a contigency out of the fund developed or created from premium pool with return over investment and underwriting profits.
As of now motor portfolio is a loss making portfolio with high claim ratio as a whole. Accordingly, no insurer have come out with car policy with returnn of premium feature. But for good claim ratio, per case basis, the insurer provide "No Claim Bonus" as well offers discount over premium rates.
