Vehicle owners shocked!  Vehicle insurance will be expensive from next month, see new rate list

Vehicle owners shocked! Vehicle insurance will be expensive from next month, see new rate list

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new Delhi. Now car, bike or other vehicle owners will have to spend more rupees for third party insurance of vehicles from next month. The Insurance and Regulatory and Development Authority of India (IRDAI) has prepared a draft to increase the rates of third party insurance (3rd-party motor insurance premium) of motor vehicles. The new rates will be applicable from April 1. This decision has been taken after two years due to the Kovid-19 epidemic.

After a decision of the Supreme Court in 2018, it is mandatory to take 5 years third party insurance and 3 years third party insurance for four wheelers while buying new two wheelers. According to the Motor Vehicle Act, any vehicle that moves on the road, it is necessary to have third party insurance. Insurance premium is determined by IRDAI (IRDAI.). The premium changes every year. There has been no change in it due to Corona for the last two years.

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for four wheeler
As per the new rates, the 1,000-cc private cars will come with a premium of Rs 2,094. Above 1,500 cc will cost Rs 3,416, while those above 1,500 cc will attract a premium of Rs 7,897.

two wheeler
Two-wheeler vehicles between 150 cc-350 cc will attract a premium of Rs 1,366 and two-wheeler vehicles above 350 cc will attract a premium of Rs 2,804.

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for commercial vehicle
For commercial vehicles carrying goods, the premium will be between Rs 16,049 and Rs 44,242 depending on the gross vehicle weight. For private individuals, the premium will be between Rs 8,510 to Rs 25,038.

long term insurance
The three-year single premium for e-cars has been revised and will attract a premium of Rs 6,521 to Rs 24,596. Similarly, the five-year single premium for new two-wheelers will come with a premium of Rs 2,901 to Rs 15,117 depending on their displacement.

Tags: auto news, Autofocus, Car Bike News, car insurance

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