Notification issued pertaining to base premium for third party insurance for unlimited liability

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Notification issued pertaining to base premium for third party insurance for unlimited liability
Notification issued pertaining to base premium for third party insurance for unlimited liability
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Azadi Ka Amrit Mahoutsav

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by PIB Delhi

The Ministry of Road Transport and Highways, in consultation with the Insurance Regulatory and Development Authority of India, has published Motor Vehicles (Third Party Insurance Base Premium and Liability) Rules, 2022 vide notification dated 25.05.2022. The rules shall come into force on 1st June, 2022.

In the said rules, base premium for third party insurance for unlimited liability  has been notified for  various classes of vehicles. Following discounts in premium are also allowed in the said rules-

•      A discount of 15% has been provided for Educational institution buses

•      A discounted price of 50% of the premium has been allowed to a private car registered as Vintage Car.

•      A discount of about 15 % and 7.5% on the premium has been allowed for Electric and Hybrid Electric Vehicles, respectively.

About Post Author

Suman Munshi

Founder Editor of IBG NEWS (15/Mar/2012- 09/Aug/2018). Recipient of Udar Akash Rokeya Shakhawat Hossain Award 2018. National Geographic & Canon Wild Clicks 2011 jury and public poll winner. Studied Post Graduate Advance Dip in Computer Sc., MBA IT,LIMS (USA & Australia), GxP(USA & UK),BA (Sociology) Dip in Journalism (Ireland), Diploma in Vedic Astrology, Numerology, Palmistry, Vastu Shastra & Feng Sui 25 years in the digital & IT industry with Global MNCs' worked & traveled in USA, UK, Europe, Singapore, Australia, Bangladesh & many other countries. Education and Training advance management and R&D Technology from India, USA, UK, Australia. Over 30 Certification from Global leaders in R&D and Education. Computer Science Teacher, IT & LIMS expert with a wide fan following in his community. General Secretary West Bengal State Committee of All Indian Reporter’s Association
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