Traditionally, motor insurance for new cars included a one-year Own Damage (OD) cover and a three-year Third Party (TP) cover, leaving car owners to renew the OD cover yearly. But now, new three-year OD + three-year TP plans provide both Own Damage and third-party protection for a full three years, offering long-term savings, greater convenience, and a 10 per cent discount on premiums for opting into this coverage. According to experts, this shift brings benefits, especially for owners of electric and hybrid vehicles, who face distinct insurance needs.