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Premium rates for Third Party revised for all Motor Policies!
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Premium rates for Third Party revised for all Motor Policies

As per Insurance Regulatory & Development Authority (IRDA), Third Party Premium rates across all general insurance companies in India have undergone a change for Motor (car, two wheeler and commercial vehicle) policies with effect from 1st April, 2013.

Any Motor policy purchased or renewed by the customer on or after 1st April, 2013 with old rates before the new rates were announced by the IRDA would attract revised rates based on the changes. Our customers are requested to pay the difference premium at the nearest office directly or through licensed Agents. Please contact Agent/our nearest Branch/ or Call Centre (080 – 49123900) for the exact amount of difference to be paid.

Revised TP premium rates are as below.

Private Cars	Premium wef 01st April 2012	Premium wef 01st April 2013
Not exceeding 1000 cc	784	941
Exceeding 1000 cc but not exceeding 1500 cc	925	1110
Exceeding 1500 cc	2853	3424
Two Wheelers
Not exceeding 75 cc	350	414
Exceeding 75 cc but not exceeding 150 cc	357	422
Exceeding 150 cc but not exceeding 350 cc	355	420
Exceeding 350 cc	680	804
Goods Carrying Vehicles Public Carriers (other than 3 wheelers)
GVW not exceeding 7500 kgs	10902	13082
Exceeding 7500 kgs but not exceeding 12000 kgs	11640	13968
Exceeding 12000 kgs but not exceeding 20000 kgs	12394	14873
Exceeding 20000 kgs but not exceeding 40000 kgs	12478	14974
Exceeding 40000 kgs	12529	15035
Goods Carrying Vehicles Private Carriers (other than 3 wheelers)
GVW not exceeding 7500 kgs	9818	9690
Exceeding 7500 kgs but not exceeding 12000 kgs	11344	11197
Exceeding 12000 kgs but not exceeding 20000 kgs	10100	9969
Exceeding 20000 kgs but not exceeding 40000 kgs	11621	11470
Exceeding 40000 kgs	13020	12851
Goods Carrying Motorized Three Wheelers and Motorized Pedal Cycles – Public Carriers	3415	4098
Goods Carrying Motorized Three Wheelers and Motorized Pedal Cycles – Private Carriers	2928	3218
Trailers
Agricultural Tractors upto 6 HP	380	418
Other vehicles including Miscellaneous & Special Type of Vehicles (Class-C), (For each trailer, for more please multiply by no. of trailers)	930	1023

Four wheeled vehicles used for carrying passangers for hire or reward with carrying capacity not exceeding 6 passangers	Basic TP Premium (A)	Premium (per licensed passenger)	Premium wef 01st April 2013
Not exceeding 1000 cc	3059	588	3417	657
Exceeding 1000 cc but not exceeding 1500 cc	4779	588	5338	657
Exceeding 1500 cc	5543	588	6191	657
Three wheeled vehicles used for carrying passengers for hire or reward with carrying capacity not exceeding 6 passengers	1097	525	1102	527
Four or more wheeled vehicles used for carrying passengers with carrying capacity exceeding 6 passengers for hire or reward	6529	399	7843	479
Three wheeled passenger vehicles used for carrying passengers for hire or reward with carrying capacity exceeding 17 passengers	6529	399	7843	479
Motorized three wheeled passenger vehicles used for carrying passengers for hire or reward with carrying capacity exceeding 6 passengers but not exceeding 17 passengers	2630	525	2641	527

Motorized Two wheelers used for carrying passengers for hire or reward
Not exceeding 75 cc	650	780
Exceeding 75 cc but not exceeding 150 cc	650	780
Exceeding 150 cc but not exceeding 350 cc	650	780
Exceeding 350 cc	1495	1794

Special Types of Vehicles
i) Pedestrian controlled Agricultural Tractors with Horse Power rating not exceeding 6HP, Hearses and Plane Loaders	475	570
ii) Other Misc & Spl types of vehicles	1458	1750

Motor Trade (Road Transit Risks)
i) Distance not exceeding 2400 kms	907	1088
ii) Distance exceeding 2400 kms	1090	1308

Motor Trade (Road Risks) (Excluding Motorized Two Wheelers) – (Named Driver or Trade Certificate)
1st named driver or certificate	1013	1216
For additional drivers/ certificates up to 5 (per driver/certificate)	490	588
For additional Drivers/ Certificates exceeding 5 but not exceeding 10 (per driver/ certificate)	316	379
For additional Drivers/ Certificates exceeding 10 but not exceeding 15 (per driver/ certificate)	273	328

Motor Trade (Road Risks) (Motorized Two Wheelers) – (Named Driver or Trade Certificate)
1st named driver or certificate	545	654
For each additional Driver/ Certificate	272	326

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