Digit Insurance, a new age general insurance company, that aims to Make Insurance Simple.
As per the recent reports, the Insurance Regulatory and Development Authority of India (IRDAI) has decided to revise the premium rates for Motor Third Party insurance for the current financial year, i.e. 2019-20. The order comes into effect from 16th June, 2019.
Mr. Adarsh Aggarwal from Digit insurance as well as a table that shows the increase in the premium for the vehicles under each category:
Mr. Adarsh Aggarwal, Appointed Actuary, Digit Insurance, ‘We will be implementing this change. The increase is in line with Third Party claims inflation trend. The variation is the increase in various segments is due to claim tendency.’
⚠️Important Notice: Premium Increase from 16 June onwards
1. Third party premium will be increased from 16 June 2019 onwards as per IRDAI notice to all insurance companies. 2. This is applicable for cars below 1500 cc and two-wheelers below 350 cc. | |||
Engine capacity
|
Premium currently
|
Premium from 16 June
|
Increase in premium
|
Pvt. Cars
| |||
Less than 1000 cc
|
₹ 1,850
|
₹ 2,072
|
12.0%
|
1000 cc-1500 cc
|
₹ 2,863
|
₹ 3,221
|
12.5%
|
More than 1500 cc
|
₹ 7,890
|
₹ 7,890
|
No change
|
Two-wheelers
| |||
Less than 75 cc
|
₹ 427
|
₹ 482
|
12.9%
|
75 cc-150 cc
|
₹ 720
|
₹ 752
|
4.4%
|
150 cc- 350 cc
|
₹ 985
|
₹ 1,193
|
21.1%
|
Above 350 cc
|
₹ 2,323
|
₹ 2,323
|
No change
|
No comments:
Post a Comment