3rd party insurance premium for cars 2wheelers to be hiked from June

first_imgNew Delhi: Car and two-wheeler insurance to cost more from June 16 with regulator Insurance Regulatory and Development Authority of India 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. Also Read – SC declines Oil Min request to stay sharing of documentsHowever, 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). Also Read – World suffering ‘synchronized slowdown’, says new IMF chiefInsurance Regulatory and Development Authority of India 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.last_img read more

Video Moroccans Escape Fire in Marrakech

Rabat – The intense video shows several female employees and customers of a beauty and massage parlor desperately escaping through first floor windows of an apartment building connected to the parlor, as smoke pours out behind them.The fire is thought to have originated in the parlor, though no specific cause for the fire has yet been confirmed.Large crowds can be seen gathered to see the spectacle, which occurred in the central district of Geuliz in Marrakech earlier this week. One man is seen helping the women as they jump onto the balconies of the shops below as they seek safety. Fortunately, no people are thought to have been badly hurt in the incident.ALC Fès Talent Show read more