Third Party Car Insurance Rates 2019

The insurance regulatory authority has announced the hiked rates for third party vehicle insurance premiums for the 2019 2020 financial year. Third party car insurance is a risk cover under which the insurer compensates any legal liabilities claimed by the third party involved in an accident where the insured vehicle is at fault. The new third party insurance rates for private cars are as follows.

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Follow us on 7 th jun 2019 9 00 am.

Third party car insurance rates 2019 - The insurance regulatory and development authority of india irdai has notified the premium rates for private two wheeler and car third party liability insurance cover for the financial year 2019 20. On premium rates for motor third party liability insurance cover for the financial year 2019 20 effective from 16 th june 2019 1 by virtue of powers vested in the authority under section 14 2 i of the irda act 1999 the authority has been notifying the premium rates applicable to motor third party liability insurance every year starting. Third party insurance premium for private cars.

According to the new rates you will have to pay more for your two wheeler and car third party liability covers with effect from june 16 2019. Motor third party insurance premium rates 2017. Only third party outflow goes up.

The reduction in rates is also expected to bring down the costs of comprehensive car insurance policies as the third party liability coverage is an in built part of the comprehensive plan. Based on the capacity of the car or two wheeler the third part premium rate is fixed and notified by irdai at the start of a financial year. Third party insurance prices hiked.

Smaller vehicles to now pay more. Insurance prices increased by up to 12 5 percent for four wheelers and 21 1 percent for two wheelers in the country. 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 the fiscal 2019 20.

The upfront premium for 3 or 5 years has to be paid only on the third party liability and not on the own damage od section. The premium proposed for third party liability coverage is based on the cubic capacity of the vehicle s. Revision in third party premium rates all motor products revision in third party premium rates all motor products irda had come out with an order dated 5th june on the revision in motor third party premium rates for the financial year 2019 20 with effect from 16th june 2019.

Applicable from april 1 2017 the policy premium rates pertaining to third party motor insurance have been updated. Third party liability car insurance. As per the motor vehicles act 1988 section 146 plying an uninsured vehicle on indian roads is an offence.