Third-party motor insurance premium to go up from June 1

New Delhi, May 26

The Ministry of Road Transport and Highways (MoRTH) has increased the third-party motor insurance premium for various categories of vehicles with effect from June 1, a decision which is likely to jack up the insurance cost of cars and two-wheelers.

According to the revised rates, private cars with an engine capacity of 1,000 cc will attract rates of Rs 2,094 compared to Rs 2,072 in 2019-20.

Similarly, private cars with an engine capacity between 1,000 cc and 1,500 cc will attract rates of Rs 3,416 compared to Rs 3,221, while owners of cars above 1,500 cc will see a drop in premium from Rs 7,897 to Rs 7,890.