The Ministry of Road Transport and Highways on Wednesday increased the premium for third party motor vehicle insurance for different categories of vehicles, which will be applicable from June 1.
he common man is going to get another blow from the increased prices. In the midst of rising inflation, the expenses may increase further. The burden of this expenditure will fall on those who use a vehicle (car or motorcycle) to travel anywhere.
In fact, the insurance expenses of vehicle owners are going to increase. Getting third party motor insurance will become expensive from June 1. With third party insurance being expensive, now taking a vehicle on the road will become more expensive than before.
insurance is expensive
The Ministry of Road Transport and Highways on Wednesday increased the premium for third party motor vehicle insurance for different categories of vehicles, which will be applicable from June 1. Because of this, car and two wheeler insurance is going to be expensive. Notification related to increase in third party insurance has also been sent by the Ministry of Road Transport and Highways. According to the revised rate in the notification sent, the third party insurance premium for private cars with 1000 cc engine capacity will now be Rs 2094 instead of 2072.
Insurance will increase so much
With the increase in third party insurance, the premium for cars with engine capacity of 1 thousand to 1.5 thousand cc will be Rs 3416 instead of Rs 3221. However, there has been a slight reduction in third party insurance for cars above 1500 cc engine capacity. Third party insurance for such cars has come down from Rs 7897 to Rs 7890. Similarly, the premium for two wheelers from 150 to 350 cc has gone up to Rs 1366. Whereas for third party insurance of vehicles with engine capacity more than 350 cc, you will have to spend Rs 2804.
