Thursday, July 3, 2025
  • Login
Euro Times
No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
Euro Times
No Result
View All Result

Third-party motor insurance premium to go up from June 1

by PTI
May 26, 2022
in Business
Reading Time: 2 mins read
A A
0
Home Business
Share on FacebookShare on Twitter


The Ministry of Highway Transport and Highways (MoRTH) on Wednesday elevated the third-party (TP) motor insurance coverage premium for varied classes of automobiles with impact from June 1, a call which is more likely to jack up the insurance coverage value of automobiles and two-wheelers.

In keeping with the revised charges notified by the MoRTH, non-public automobiles with an engine capability of 1,000 cc will entice charges of ₹2,094 in comparison with ₹2,072 in 2019-20.

Equally, non-public automobiles with an engine capability between 1,000 cc and 1,500 cc will entice charges of ₹3,416 in comparison with ₹3,221, whereas homeowners of automobiles above 1,500 cc will see a drop in premium from ₹7,897 to Rs 7,890.

Two-wheelers over 150 cc however not exceeding 350 cc will entice a premium of ₹1,366 and for two-wheelers over 350 cc the revised premium shall be ₹2,804.

After a two-year moratorium as a result of COVID-19 pandemic, the revised TP insurance coverage premium will come into impact from June 1.

Earlier, TP charges had been notified by the Insurance coverage Regulatory and Improvement Authority of India (IRDAI). That is the primary time that the MoRTH has notified the TP charges in session with the insurance coverage regulator.

Electrical automobiles premium

In keeping with the ministry’s notification, a reduction of seven.5 per cent on the premium shall be allowed for hybrid electrical automobiles.

Whereas electrical non-public automobiles not exceeding 30KW will entice a premium of ₹1,780, these exceeding 30 KW however not 65 KW will entice a premium of ₹2,904.

The premium for items carrying industrial automobiles exceeding 12,000 kg however not 20,000 kg will improve to ₹35,313 from ₹33,414 in 2019-20.

Within the case of products carrying industrial automobiles exceeding 40,000 kg, the premium will improve to ₹44,242 as in opposition to ₹41,561 in 2019-20.

The third-party insurance coverage cowl is for aside from personal harm and is necessary together with the personal harm cowl {that a} automobile proprietor has to buy.

This insurance coverage cowl is for any collateral harm to a 3rd get together, typically a human being, induced because of a street accident. PTI BKS DIV DIV

Revealed on

Might 26, 2022



Source link

Tags: InsuranceJuneMotorpremiumthirdparty
Previous Post

The Great Replacement is a Top-Down Project – Investment Watch

Next Post

Texas school shooting: gunman was inside for 40 minutes, officials say – latest updates | Texas school shooting

Related Posts

Lenders cannot levy pre-payment charges on floating rate loans, advances granted for business purpose to individuals, MSEs: RBI

Lenders cannot levy pre-payment charges on floating rate loans, advances granted for business purpose to individuals, MSEs: RBI

by Euro Times
July 2, 2025
0

FILE PHOTO: The Reserve Financial institution of India (RBI) emblem is pictured exterior its head workplace in Mumbai November 2,...

TikTok Cuts More Workers From US E-Commerce Division

TikTok Cuts More Workers From US E-Commerce Division

by Bloomberg News
July 3, 2025
0

TikTok is chopping extra staff from its US e-commerce division, TikTok Store, the third spherical of layoffs for that group...

Tesla shares jump 4% as investors discount EV maker’s lower than estimated Q2 deliveries

Tesla shares jump 4% as investors discount EV maker’s lower than estimated Q2 deliveries

by Shivendra Kumar
July 2, 2025
0

Tesla shares shot-up 4% within the opening commerce on Wednesday, hitting the day's excessive of $313 per share. The uptick...

Israel-US plan 0m quantum fund with UAE, Saudi Arabia

Israel-US plan $200m quantum fund with UAE, Saudi Arabia

by Assaf Gilead
July 3, 2025
0

Former head of Israel's Navy Intelligence and govt director of Tel Aviv College's Institute for Nationwide Safety Research (INSS)...

JBS N.V. Stock: Buy Before The Market Wakes Up To This Global Value Play (NYSE:JBS)

JBS N.V. Stock: Buy Before The Market Wakes Up To This Global Value Play (NYSE:JBS)

by Abdul-Rahman Bhery
July 2, 2025
0

This text was written byObserveI'm an enthusiastic fairness analysis and funding analyst with a powerful curiosity in making use of...

Nifty IT top sectoral gainer today; Infosys, TCS, Wipro lead

Nifty IT top sectoral gainer today; Infosys, TCS, Wipro lead

by zee business
July 2, 2025
0

Info Expertise (IT) shares noticed shopping for motion in Wednesday's commerce (July 2, 2025), lending assist to the headline indices...

Next Post
Texas school shooting: gunman was inside for 40 minutes, officials say – latest updates | Texas school shooting

Texas school shooting: gunman was inside for 40 minutes, officials say – latest updates | Texas school shooting

Winners: FinanceAsia Country Awards 2022 – South Asia | financeasia country awards 2022, financeasia, country awards 2022, banking, capital markets, winners, apac, asia pacific

Winners: FinanceAsia Country Awards 2022 – South Asia | financeasia country awards 2022, financeasia, country awards 2022, banking, capital markets, winners, apac, asia pacific

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Russiagate was a ploy to ‘screw Trump’ – CIA boss — RT World News

Russiagate was a ploy to ‘screw Trump’ – CIA boss — RT World News

July 3, 2025
Analyst Says Cycle Is Not Finished Amid 2 Years Of Bitcoin Sideways Movement

Analyst Says Cycle Is Not Finished Amid 2 Years Of Bitcoin Sideways Movement

July 2, 2025
Carrera Smart Glasses drop to a new record-low price

Carrera Smart Glasses drop to a new record-low price

July 3, 2025
Congress Urged to Investigate Fed Chair Over .5B Scandal

Congress Urged to Investigate Fed Chair Over $2.5B Scandal

July 2, 2025
Tragedy in Oman: School bus crash kills driver and three students, leaves twelve injured | World News

Tragedy in Oman: School bus crash kills driver and three students, leaves twelve injured | World News

July 2, 2025
House Republicans Stuck Ahead Of Big Tax Bill Vote

House Republicans Stuck Ahead Of Big Tax Bill Vote

July 3, 2025
Euro Times

Get the latest news and follow the coverage of Business & Financial News, Stock Market Updates, Analysis, and more from the trusted sources.

CATEGORIES

  • Business
  • Cryptocurrency
  • Finance
  • Health
  • Investing
  • Markets
  • Politics
  • Stock Market
  • Technology
  • Uncategorized
  • World

LATEST UPDATES

Russiagate was a ploy to ‘screw Trump’ – CIA boss — RT World News

Analyst Says Cycle Is Not Finished Amid 2 Years Of Bitcoin Sideways Movement

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In