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

Editor Desk

Antara Tripathy M.Sc., B.Ed. by qualification and bring 15 years of media reporting experience.. Coverred many illustarted events like, G20, ICC,MCCI,British High Commission, Bangladesh etc. She took over from the founder Editor of IBG NEWS Suman Munshi (15/Mar/2012- 09/Aug/2018 and October 2020 to 13 June 2023).
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