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Action of IRDAI for vehicles

Action of IRDAI for vehicles

IRDAI today reduce the motor insurance premium rated in most of the segment like two-wheelers, cars and trucks and modify the rates. It is modified for the 2017-2018 issued three week ago. The regulatory and development authority of India said in an order that the “the premium rates for motor third party liability insurance cover”. It is clearly said that the premium rates of the current fiscal are higher than those of the previous year. As per the mentioned list, there is the list of the premium and mid-segment cars which have been reduce to 2,863 from 3,132 which were announced on March 28. There are many changes can be seen in the rates of the motorcycle, car and trucks. Like this, the cars which are more than the 1,500 cc which has been down from the 8,630 to 7,890. It is basically regulate on the cars which comes in the mid range segments and highly in demand.
This photo from Future Generali

Those cars who are less than 1,000 cc, there is no changes in these cars. The premium price is fixed at
the rate of 2,055 for the customers. Along with this the premium has been brought down in the case of the wheelers which have two wheelers with the engine of 150cc and more. IRDAI clearly announce that the premium rates have been reduces for most of the truck categories. The good carrying vehicles public carriers also reduced from 36,120 to 33,024 which were notified on 28 by the IRDAI.

The rates have been reduced and affected for the e-rickshaw which carries the passenger and goods too. The truckers have protest against the IRDAI’s move to substantially. It was happened because the rates were hike and the truckers protest against the IRDAI. It is highly affected and currently can be read in the newspaper.

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