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Here is latest Indian Vehicle Insurance News about Third Party Motor Vehicles Insurance Premium Rates Hike.
From the first of April month 2012, the Third Party Motor Vehicles Insurance Premium Rates are raised up to 40% for two-wheelers, cars and other four wheelers as per notification of the Insurance Regulatory and Development Authority (IRDA).
The third party insurance cover protects the vehicle owners from any financial liability in case of damage of life or property in accident to the third party.
The increased Third Party Motor Vehicles Insurance Premium Rates as follows:
The owners of cars capacity up to 1000 cc, the 3rd party premium is 784 Indian Rupees
1000 – 1500 cc, the 3rd party premium is 925 Rupees
1500 cc and above, the 3rd party premium is 2,853 Rupees only.
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