New Delhi: You all know that Third Party Insurance gives you protection in case of an accident with someone. Third-party insurance of cars and two-wheelers can become expensive from the coming financial year. The Insurance Regulatory and Development Authority of India (IRDAI) has proposed a major increase in the Third Party Insurance for the financial year starting from April 1, 2020.

Under this proposal, the Third Party Insurance premium for vehicles with engine capacity less than 1,000-CC will be Rs 2,182, which is currently Rs 2,072. Similarly, the third party insurance premium of 1,000-1,500-CC engine capacity vehicles is proposed to be increased to Rs 3,383. It is proposed not to increase the premium rates for vehicles with engine capacity of more than that.

In the case of two-wheelers, Third Party Insurance is proposed to be Rs 506 for vehicles with less than 75-CC engine capacity.

Let us know what will happen on vehicles Third Party Insurance: –

For vehicles with engine capacity less than 1.1,000-CC – Rs 2,182

For vehicles with 2.1,000-1,500-CC engine capacity – Rs 3,383

For vehicles with engine capacity of 3.1,500-CC more – Rs 3,383

4. For vehicles with engine capacity less than 75-CC in two-wheelers – Rs 506

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