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IRDAI Reduces 3rd Part Insurance Rates
April 24, 2017
The Insurance Regulatory and Development Authority today lowered the premium rates for motor insurance schemes covering cars, trucks, and two-wheelers by modifying the rates for FY 2017-18 it released a few weeks ago.
The updated insurance rates for motor 3rd party liability insurance cover will be effective from 1st April. The following are some of the key points to consider:
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The premium on cars (1,000cc – 1,500 cc) has been reduced to Rs 2,863 from Rs 3,132
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The premium for cars (1,500 cc) has been brought down to Rs 7,890 from Rs 8,630.
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The premium for two-wheelers has also been reduced.
