Bad News for Vehicle-owners as Third-party Premium Hiked from 1st June
Some bad news for the vehicle owners already affected by the accelerating fuel price increase.
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Some bad news for the vehicle owners already affected by the accelerating fuel price increase.
From June 1, 2022 onwards, the motor third party liability insurance premium has been jacked up by the central government despite the portfolio being hugely profitable for the insurers.
Some bad news for the vehicle owners already affected by the accelerating fuel price increase.
As per a draft notification, the government has also proposed a 15 per cent insurance premium for electric vehicles and 7.5 per cent for hybrid electric vehicles.
There is some good news for the vehicle owners and buyers. The unjustified motor third party premium hike may not happen on April 1 as expected by the non-life insurers but later in that month.The Ministry of Road Transport and Highways on ...