Third party insurance premium rates will increase from June 1, know how much it will affect the pocket
Third party insurance premium rates are going to increase from June 1. That is, now if third party insures the vehicle from June 1, then it will be at increased rates only. Earlier in 2019, the rates were increased. For the last two years, due to corona infection, the rates of vehicle insurance premium were not increased. Now the increased rates will be applicable from June 1, 2022. The increased rates of third party vehicle insurance premium have been made applicable on two wheelers and four wheelers. Due to this, another hit of inflation is going to hit the drivers. After the consent of the Central Government, the Ministry of Road and Transport has issued a notification of increased insurance premium rates in this regard.
According to the notification issued, hybrid electric vehicles will get a discount of up to 7.5 percent on the insurance premium. According to this, a three-year premium of Rs 5,543 will have to be paid for an e-car of up to 30 kW capacity. At the same time, for an e-car between 30 kW to 65 kW, a three-year premium will have to be paid at Rs 9,044. While the premium for an e-car with a capacity of more than 65 kW will be Rs 20,907 for three years. Whereas private cars with 1000 cc engine capacity will now have to pay a premium of Rs 2,094. Earlier it was Rs 2072.
For a personal vehicle of 1000 to 1500 cc, now a premium of Rs 3,416 will have to be paid. Earlier, Rs 3,221 had to be paid for this. For cars with engine capacity above 1500 cc, the third party insurance premium will be Rs 7,890. Which was earlier Rs 7,897. That is, there has been a reduction of seven rupees here. On the other hand, if we talk about two wheelers, then for two wheelers with a capacity of more than 150 cc but less than 350 cc, a premium of Rs 1366 will have to be paid. For vehicles of more than 350 cc capacity, Rs 2,804 will have to be paid.
