Insurance coverage for vehicles up from 1st April!
Posted on: 08/Mar/2022 11:56:06 AM
Insurance coverage for vehicles up from 1st April!
It is learnt that the central government is planning to increase the third person motor insurance premium for the vehicles
The Ministry for Highways has proposed this.
With this, there are prospects for the prices of new cars and 2-wheelers to go up! Information is gathered that the third person Insurance Premium increase would be implemented from 1st April!
As per the proposal by the Ministry of Highways, the third person insurance premium for the 1000 cc capacity cars is set at Rs. 2094/-. Presently, the premium for this is Rs. 2071/-.
Similarly, for the cars from 1000 cc to 1500 cc, the premium is proposed to be increased up to Rs. 3416/-. Presently, this is Rs. 3221/- only!
For cars over 1500 cc capacity, the premium is being increased up to Rs. 7897/-! Presently, the premium is Rs. 7890/-.
For the 2-wheelers with 150 cc to 350 ccs, the premium will be up to Rs. 1366/-. For 2-wheelers with more than 350 cc, the premium would be up to Rs. 2804/-.
This sudden ‘bolt-out-of-the-blue announcement of an increase in vehicle insurance coverage premium has sent strong shock waves among the public!!
