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.