Vehicle Insurance Premium Set To Increase

[Nairrk]

Third-party insurance premium for cars, two-wheelers and transport vehicles may go up with the regulator IRDAI proposing a substantial increase in premium rates for the current financial year. The Insurance Regulatory and Development Authority of India (IRDAI) has proposed to increase the Motor Third Party (TP) premium rates for cars below 1000 cc to Rs 2,120 from the existing Rs 1,850 for fiscal 2019-20.

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[Nairrk]

Third-party insurance prices hike up to 21% for 2-wheelers and 12% for 4-wheelers

New Delhi:The Insurance Regulatory and Development Authority of India (Irdai) has approved the increase in premium of third-party motor insurance for this fiscal. The premium has increased 21 per cent for premium motorcycles and 12 per cent for private cars. The rates usually change in April. However, the authority is implementing these changes from June 16 for FY20.

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