Motor insurance - Third-party premium to go up by 30% - MYREALITY.In, Real Estate, Share Market, Mutual Fund, Insurance
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Sunday, March 06, 2016

Motor insurance - Third-party premium to go up by 30%

Third-party motor insurance premium to go up by 30%

Insurance premiums might rise by nine to 30% across categories in cars, 2 wheelers and commercial vehicles, with the Insurance Regulatory and Development Authority of India (IRDAI) proposing a revision in motor third-party premiums.

For cars, with engine capacity not exceeding 1,000 cc, the rise proposed is 30%. For those exceeding 1,000 cc, it is 25%.

For two-wheelers, there would be a rise of 10 to 15% for vehicles up to 350cc, while a 10% drop has been proposed for vehicles exceeding 350cc.


Third-party motor premium is regulated by IRDAI and revised yearly, based on inflation and claims. This type of insurance is mandatory for all motor vehicles on Indian roads and covers the owner from third-party liability arising out of accidents or damage.
Motor insurance - Third-party premium to go up by 30% Reviewed by S. Chitra on March 06, 2016 Rating: 5 Third-party motor insurance premium to go up by 30% Insurance premiums might rise by nine to 30% across categories in cars, 2 wheelers ...

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