third party motor insurance premium rates

Govt To Increase Third Party Motor Insurance Rates From June 1

For the very first time, the Ministry of Road Transport and Highways (MoRTH), in consultation with the Insurance Regulatory and Development Authority of India (IRDAI) has announced an increase in the third-party motor insurance premium, effective from 1st June 2022. Here're the new base premiums for various categories: - ICE-powered Private Cars Engine CapacitySingle-year…

May 28, 20220Comments

ByNikhil Ramchandani

New Vehicle Insurance Rules Are In Effect From Today, Buying Car Or Bike Is Now Cheaper

In June 2020, the Insurance Regulatory and Development Authority of India (IRDAI) had made some major changes in the vehicle-related insurance policy norms. The body had decided to remove the mandatory long-term motor insurance packages that cover both own damages (OD) and third-party (TP) damages. This rule is effective from today onwards. The step will effectively minimize…

August 1, 20200Comments

ByNikhil Ramchandani

Deadline for renewal of motor insurance extended

The current situation of the demographic set up of the world is of a standstill. In such testing times, it is not just our daily errands but even the whole the organisational set up of legalities and administration that is affected. This is very much the case for the financial sector and legal system as…

May 22, 20200Comments

ByNikhil Ramchandani