 "Buy comprehensive cover despite rise in premium")
Vehicle owners will have to shell out more for motor insurance premium from April 1, when the revised tariffs for third-party motor premium come into effect. Earlier this month, the Insurance Regulatory and Development Authority of India (Irdai) released the draft guidelines for revision of third-party premiums for 2017-18. In some categories, the proposed hike is as much as 50 per cent.
The motor insurance segment is loss-making for all the insurers. “There are millions of vehicles on the road without third-party insurance. Our proposed hike in the draft guideline is to reduce losses for insurance companies,” says TS
The motor insurance segment is loss-making for all the insurers. “There are millions of vehicles on the road without third-party insurance. Our proposed hike in the draft guideline is to reduce losses for insurance companies,” says TS
