The central authorities has additionally elevated the premium on auto insurance coverage, placing folks at a drawback attributable to rising gasoline costs. The premium for third celebration insurance coverage has been elevated. The hike will take impact on June 1.
The one premium for brand new automobiles and bikes has additionally been elevated. The three 12 months single premium for brand new automobiles not exceeding 1000 cc is Rs 6521. For automobiles from 1000cc to 1500cc – Rs 10,640. 24,596 for automobiles above 1500 cc. The five-year single premium for two-wheelers is Rs 2901 for bikes beneath 75cc. For bikes from 75cc to 150cc – Rs. 150cc to 350cc Rs. 15,117 above 350 cc.
On the similar time, buses of instructional establishments got a 15 per cent low cost on third celebration insurance coverage premiums.
The premium quantity for electrical and hybrid electrical autos has been diminished by 15 per cent and 70 per cent, respectively.
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