IRDA has revised the Motor Third Party Premium w.e.f 01.04.2016 and thereafter all the policies commencing on or after 31th midnight (12’00 clock) will have these Third Party rates.
1. Class of Vehicle – Private Car | Premium in Rs. |
a) Not exceeding 1000cc | 2055 |
b) Exceeding 1000 cc but not exceeding 1500 cc | 2237 |
c) Exceeding 1500 cc | 6164 |
2. Class of Vehicle – Two Wheelers | Premium in Rs. |
a. Not exceeding 75cc | 569 |
b. Exceeding 75 cc but not exceeding 150cc | 619 |
c. Exceeding 150 cc but not exceeding 350cc | 693 |
d. Exceeding 350cc | 796 |
3. Class of Vehicle – Commercial Vehicle | |
A.1 – Goods Carrying Vehicle Public Carrier (Other than 3 Wheeler) | Premium in Rs. |
a. Gross Vehicle Weight (GVW) not exceeding 7500 Kgs | 14390 |
b. GVW Exceeding 7500 Kgs but not exceeding 12000 kgs | 15365 |
c. GVW Exceeding 12000 Kgs but not exceeding 20000 kgs | 22577 |
d. GVW Exceeding 20000 Kgs but not exceeding 40000 kgs | 24708 |
e. GVW Exceeding 40000 kgs | 25800 |
A.2 – Goods Carrying Vehicle Private Carrier (Other than 3 Wheeler) |
Premium in Rs. |
a) Gross Vehicle Weight (GVW) not exceeding 7500 Kgs | 7849 |
b) GVW Exceeding 7500 Kgs but not exceeding 12000 kgs | 11528 |
c) GVW Exceeding 12000 Kgs but not exceeding 20000 kgs | 9390 |
d) GVW Exceeding 20000 Kgs but not exceeding 40000 kgs | 12821 |
e) GVW Exceeding 40000 kgs | 16655 |
A.3 – Goods Carrying Motorized 3 Wheelers & Motorized Pedal cycle-Public Carrier |
Premium in Rs. |
a.except e-carts | 5680 |
b. e-carts | 3969 |
A.4 – Goods Carrying Motorized 3 Wheelers & Motorized Pedal cycle-Private Carrier |
Premium in Rs. |
a. except e-catrs | 4200 |
b. e-carts | 3438 |
B – Trailers | Premium in Rs. |
a. Agricultural Tractors upto 6 HP | 510 |
b.. Other Vehicles including Miscellaneous & Special type of Vehicles (Class-D) |
1307 |
Note: This rate is for each trailer, for more number of trailers, please multiply by no# of trailers
Class C – Passenger Carrying Vehicles used for Hire and Reward
C.1A – Four wheeled vehicles used for carrying passenger for hire or reward with carrying capacity not exceeding 6 (six) passengers |
Basic TP Premium in Rs. (A) | Premium (Per licensed Passenger)- (B) |
a) Not exceeding 1000cc | 6396 | 1230 |
b) Exceeding 1000 cc but not exceeding 1500 cc | 8408 | 1035 |
c) Exceeding 1500 cc | 11144 | 1183 |
Note: TP Premium is the total of a basic amount (A) plus an amount derived by multiplying the licensed carrying capacity by the amount in (B)
C.1B – Three wheeled vehicles used for carrying passenger for hire or reward with carrying capacity not exceeding 6 (six) passengers |
Basic TP Premium in Rs. (A) | Premium (Per licensed Passenger)- (B) |
a. except e-rickshaw | 1733 | 829 |
b e-rickshaw | 1125 | 538 |
Note: TP Premium is the total of a basic amount (A) plus an amount derived by multiplying the licensed carrying capacity by the amount in (B)
C.2 – Passenger Carrying vehicles with Seating Capacity exceeding 6 |
Basic TP Premium in Rs. (A) | Premium (Per licensed Passenger)- (B) |
a) 4 or more wheeled vehicles used for carrying passenger for hire or reward with carrying capacity exceeding 6 (six) passengers | 10294 | 629 |
b) 3 Wheelers with carrying capacity exceeding 17 passengers | 10294 | 629 |
Note: TP Premium is the total of a basic amount (A) plus an amount derived by multiplying the licensed carrying capacity by the amount in (B)
C.3 – Motorized three wheeled vehicles used for carrying passenger for hire or reward |
Basic TP Premium in Rs. (A) | Premium (Per licensed Passenger)- (B) |
a) With carrying capacity exceeding 6 (six) passengers but not exceeding 17 passengers | 4155 | 829 |
Note: TP Premium is the total of a basic amount (A) plus an amount derived by multiplying the licensed carrying capacity by the amount in (B)
C.4 – Motorized Two wheelers used for carrying passengers for hire or reward |
Basic TP Premium in Rs. (A) | Premium (Per licensed Passenger)- (B) |
a. Not exceeding 75cc | 702 | 473 |
b. Exceeding 75 cc but not exceeding 150cc | 702 | 473 |
c. Exceeding 150 cc but not exceeding 350cc | 702 | 473 |
d. Exceeding 350cc | 1615 | 473 |
Note: TP Premium is the total of a basic amount (A) plus an amount derived by multiplying the licensed carrying capacity by the amount in (B)
Class D – Miscellaneous and Special Types of Vehicles | Premium in Rs. |
a. Pedestrian controlled Agricultural Tractors with Horse Power rating not exceeding 6 HP, Hearses and plane loaders | 897 |
b. Other Misc. & Spl type of Vehicles | 3822 |
Class E – Motor Trade (Road Transit Risk) | Premium in Rs. |
a. Distance not exceeding 2400 Kms | 1088 |
b. Distance exceeding 2400 Kms | 1308 |
Class F(i) – Motor Trade (Road Risk) (Excluding Motorized Two Wheelers) | Premium in Rs |
Named Driver or Trade Certificate | |
a. 1st named driver or certificate | 985 |
b. For additional Drivers / Certificates upto 5 (per driver/certificate) | 476 |
c. For additional Drivers / Certificates exceeding 5 but not exceeding 10 (per driver/certificate) | 307 |
d. For additional Drivers / Certificates exceeding 10 but not exceeding 15 (per driver/certificate) | 266 |
Class F(ii) – Motor Trade (Road Risk) (For Motorized Two Wheelers) |
Premium in Rs |
Named Driver or Trade Certificate | |
a. 1st named driver or certificate | 530 |
b. For each additional Drivers / Certificates | 264 |