Third-Party Insurance Premium For Cars, 2-Wheelers To Go Up From June 16

Car and two-wheeler insurance to cost more from June 16 with regulator IRDAI increasing the mandatory third party (TP) motor insurance by up to 21 per cent in certain category of vehicles. Normally, the mandatory motor TP insurance cover rates are revised from April 1. However, this time, the new rates for the fiscal 2019-20 will be applicable from June 16.

The Insurance Regulatory and Development Authority of India (IRDAI) in an order said the new TP insurance for smaller cars (less than 1,000 cc) will cost Rs. 2,072 or 12 per cent from the existing Rs 1,850. The hike in insurance premium for cars with engine capacity of 1,000 cc to 1,500 cc has been increased by 12.5 per cent to Rs. 3,221.

However, the TP premium for cars with higher engine capacity (1,500 cc plus) has been retained at Rs. 7,890.

The new Motor Third Party Liability Insurance Cover from June 16 will be Rs. 482, up 12.88 per cent for two-wheelers with engine capacity of less than 75 cc and Rs. 752 for those with engine capacity of 75-150 cc.

The maximum hike is for two-wheelers having engine capacity between 150-350 cc. The new premium will be Rs. 1,193, up 21.11 per cent from the existing Rs. 985. There will be no change in TP insurance premium for super bikes (350 cc plus).

Irdai has also increased the TP insurance for public as well as private goods carrying vehicles.

There is no change for rates in case of e-rickshaw. However, the third-party insurance premium in case of school buses has been increased.

Also, there is no change in long-term single premium rates. In case of cars, the long-term premium is for three years, and for two-wheelers, it is five years.



from NDTV CarAndBike - Latest News

Comments

Post a Comment

Popular posts from this blog

Harley-Davidson Streetfighter Spotted In Flesh For The First Time

Image
Harley-Davidson unveiled a range of new motorcycles last year that included an adventure tourer, streetfighter and Custom range. This, along with the LiveWire electric motorcycle defines the new-age 21st century offerings from the manufacturer as it taps into newer markets and caters to an evolving customer base. Now, giving a glimpse of the new models out in the open, the new Harley-Davidson Streetfighter was spotted in the prototype version at what seems to be a trade show in the US, giving a good glimpse at motorcycle looks like in flesh. While board says 'Styling Prototype', the production-spec version of the Streetfighter is likely to stay identical to the model showcased here. In addition to the Streetfighter, the Pan America was also showcased at the same event. The production spec versions of both bikes could be unveiled at EICMA this year. Also Read: Harley-Davidson Livewire To Be Unveiled In India In August The Harley-Davidson Streetfighter is a completely new mot
Read more

Brixton 1200 To Rival Triumph Bonneville T120

Image
A 1200 cc modern classic with similar design lines as Triumph's iconic Bonneville series, has reportedly been cleared for production. The bike was showcased as a concept at last year's EICMA motorcycle show, and from the looks of it, this is a model developed in China with the Triumph Bonneville T120 in its sights. The Brixton brand though is part of Austria's KSR Group, which imports bikes from several Chinese manufacturers, including CF Moto. And while the new Bonneville rival will be manufactured in China, the design and engineering has been created at KSR's design centre in Krups, Austria. Also Read: Triumph Bonnville T120 First Ride Review The Brixton 1200 cc motorcycle has not been named yet, or a launch timeline announced So far, the company has not committed to a launch date yet, but says that it will eventually make it to production. And from the looks of it, that may well be sometime later this year, maybe even at the EICMA 2020 show in Milan, Italy, in
Read more

Zongshen Cyclone RX6 Based On Norton 650 Nearing Completion

Image
While there still doesn't seem to be a buyer for iconic British brand Norton Motorcycles which went into administration in January this year, the firm's 650 cc parallel-twin seems to be finding life in China. While Norton apparently sold off the engine rights of its 961 engine to China's Jinglang just before the brand went into administration, the deal for the 650 cc engine was finalized way back in 2017 with Chinese giant Zongshen. The 650 cc parallel-twin engine was due to be used in Norton's Atlas and Superlight models, but now it looks like that engine platform will make its debut in a Zongshen motorcycle, called the Cyclone R6. Also Read: How Much Is Norton Motorcycles Worth Now? One of the patent designs shows the Cyclone RX6 with full touring accessories and luggage Two prototypes fitted with the 650 cc parallel-twin engine were shown in China late last year, on the Zongshen Cyclone RX6 adventure bike and the RX6 sport tourer. Both bikes used Zongshen-made
Read more