Govt. proposes hike in auto insurance premium from next fiscal year

The Union Road Transport Ministry has proposed a hike in third-party motor insurance premium from the next fiscal year. The new tariffs are likely to get applicable from April 1.

The rise in premium will increase the insurance cost of four-wheelers as well as two-wheelers.

The revised rates are as follows-

  • Private cars with 1,000 cubic capacity (cc) will attract a premium of ₹2,094

  • Private cars with 1,000 cc to 1,500 cc will attract a premium of ₹3,416

  • Two-wheelers over 150 cc but not exceeding 350 cc will attract a premium of ₹1,366


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