Third Party Liability premium is regulated by IRDAI or the Insurance Regulatory and Development Authority.
This year it has been announced to be increased from 16 June 2019 onwards for all insurance companies.
Engine capacity |
Premium currently |
Premium from 16 June |
Increase in premium |
Less than 1000 cc |
1850 |
2072 |
12.0% |
1000 cc-1500 cc |
2863 |
3221 |
12.5% |
More than 1500 cc |
7890 |
7890 |
No change |
What does it mean for you?
Whether you are Buying or Renewing your car insurance policy on or after 16 June 2019, you will have to pay according to the increased premium.
Which cars is it applicable for?
It is applicable for all cars below a cubic capacity of 1500. There is no change in premium for cars above 1500 cc.
You can also read about this on the IRDAI website too. Here's the link: https://www.irdai.gov.in/ADMINCMS/cms/frmGeneral_Layout.aspx?page=PageNo3826
