Govt proposes hike in 3rd-party motor insurance premium from next fiscal

According to the proposed revised rates, private cars with 1,000 cubic capacity (cc) will attract rates of Rs 2,094 compared to Rs 2,072 in 2019-20. Similarly, private cars with 1,000 cc to 1,500 cc will attract rates of Rs 3,416 compared to Rs 3,221, while owners of car above 1,500cc will see a premium of Rs 7,897 compared to Rs 7,890.