Thread Starter
#1
Friends,
If you are planning to buy a vehicle, be it a 2 wheeler or 4 wheeler or even a commercial vehicle then be ready to pay extra for the 3rd party insurance from 1st April 2015. The rise is expected to be around 20-25% as a report from Business Standard claims. Earlier last year, in 2014 this 3rd party insurance amount had already been hiked so this turns out to be yet another hike in 1 year span itself.
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Regards
Akash
If you are planning to buy a vehicle, be it a 2 wheeler or 4 wheeler or even a commercial vehicle then be ready to pay extra for the 3rd party insurance from 1st April 2015. The rise is expected to be around 20-25% as a report from Business Standard claims. Earlier last year, in 2014 this 3rd party insurance amount had already been hiked so this turns out to be yet another hike in 1 year span itself.
For 2015-16, general insurers have sought atleast 40% increase in motor TP premiums. Senior industry executives said that segments like two-wheelers and auto-rickshaws where there have not been very large claims could be incentivised with a lower rate of premium hike while it could be higher for commercial vehicles.
The insurance regulator brings out the draft proposal for increase the premiums for motor TP segment. Later, they take into consideration the insurer's concerns and also that of consumer forums, while arriving at a price hike formula based on the claims in the category, be it two-wheelers, private cars, taxis, auto-rickshaws and trucks among others.
The insurance regulator brings out the draft proposal for increase the premiums for motor TP segment. Later, they take into consideration the insurer's concerns and also that of consumer forums, while arriving at a price hike formula based on the claims in the category, be it two-wheelers, private cars, taxis, auto-rickshaws and trucks among others.
Regards
Akash