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Now third party motor insurance to cost up to 50% more

Now third party motor insurance to cost up to 50% more

Monday, March 6, 2017, 12:49 PM

The premium for third party motor vehicle insurance, is set to go up significantly. The IRDA has proposed a nearly 50% hike for most categories of vehicles for 2017-18. It is mandatory for vehicles to have third party insurance, while insurance for own damage is optional. Its the first time that such a hefty hike in premium rates has been proposed by IRDA.
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