The IRDAI revises premium every year, considering the ratio of claims made and loss for providers. Because of this, third party insurance rates for cars and bikes have become costly from April 1st, with the insurance rate rising up to 40%.
Here are the third party car insurance price 2017
The premium for small cars (up to 1000 cc) is currently Rs 2055. This denotes that the third party car insurance rates have increased by 39.9%.
The hike for medium size cars (1000 – 1500 cc) is about 40%, and is currently Rs. 2863.
In the case of bigger cars like SUVs (1500 cc+) the premium is hiked by 25%, to Rs. 7890 presently.