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Discount proposed on third party premium for select vehicles including EVs

By ANI | Updated: June 20, 2023 22:30 IST

New Delhi [India], June 20 : The Ministry of Road Transport and Highways (MoRTH) has issued a draft notification ...

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New Delhi [India], June 20 : The Ministry of Road Transport and Highways (MoRTH) has issued a draft notification proposing Motor Third Party Premium and Liability Rules for the Financial Year 2023-24. This was done in consultation with the Insurance Regulatory and Development Authority of India (IRDAI).

A discount of 15 per cent and 50 per cent has been proposed for educational institution buses and private cars registered as Vintage Car, respectively.

Also, a discount of 15 per cent and 7.5 per cent has been proposed for Electric and Hybrid Electric Vehicles, respectively. A gazette notification on the same was issued dated June 15, 2023.

The ministry prescribes the base premium rates for third-party motor insurance from time to time.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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