- Car & Bike Insurance Premium by 30%
IRDA has decided to hike the third party motor insurance premiums by 30% max effective from 1st April 2015. With this news you have to pay a 30% higher car insurance premium for your hatch back car and a higher bike insurance for your two wheeler. For heavy vehicle with more than 1500 cc power have to pay a 20% more premium now onward. But if you have a bike of 350 cc or more power then you will get some relief as there will no hike of premium for owning that vehicle. As per IRDA the cost inflation index (CII) has increased by 9.05 % from previous years as per NDTV news. You can check out the details of insurance hiked premiums as per vehicle power below.
As per the data we can easily find that for small car owners with engine power less than 1000 cc have to bear a hike of 30%.
- Car & Bike Insurance Premium by 30%
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