IRDA has revised the Motor Third Party Premium w.e.f 01.04.2016 and thereafter all the policies commencing on or after 31th midnight (12’00 clock) will have these Third Party rates.
| 1. Class of Vehicle – Private Car | Premium in Rs. |
| a) Not exceeding 1000cc | 2055 |
| b) Exceeding 1000 cc but not exceeding 1500 cc | 2237 |
| c) Exceeding 1500 cc | 6164 |
| 2. Class of Vehicle – Two Wheelers | Premium in Rs. |
| a. Not exceeding 75cc | 569 |
| b. Exceeding 75 cc but not exceeding 150cc | 619 |
| c. Exceeding 150 cc but not exceeding 350cc | 693 |
| d. Exceeding 350cc | 796 |
| 3. Class of Vehicle – Commercial Vehicle | |
| A.1 – Goods Carrying Vehicle Public Carrier (Other than 3 Wheeler) | Premium in Rs. |
| a. Gross Vehicle Weight (GVW) not exceeding 7500 Kgs | 14390 |
| b. GVW Exceeding 7500 Kgs but not exceeding 12000 kgs | 15365 |
| c. GVW Exceeding 12000 Kgs but not exceeding 20000 kgs | 22577 |
| d. GVW Exceeding 20000 Kgs but not exceeding 40000 kgs | 24708 |
| e. GVW Exceeding 40000 kgs | 25800 |
| A.2 – Goods Carrying Vehicle Private Carrier (Other than 3 Wheeler) |
Premium in Rs. |
| a) Gross Vehicle Weight (GVW) not exceeding 7500 Kgs | 7849 |
| b) GVW Exceeding 7500 Kgs but not exceeding 12000 kgs | 11528 |
| c) GVW Exceeding 12000 Kgs but not exceeding 20000 kgs | 9390 |
| d) GVW Exceeding 20000 Kgs but not exceeding 40000 kgs | 12821 |
| e) GVW Exceeding 40000 kgs | 16655 |
| A.3 – Goods Carrying Motorized 3 Wheelers & Motorized Pedal cycle-Public Carrier |
Premium in Rs. |
| a.except e-carts | 5680 |
| b. e-carts | 3969 |
| A.4 – Goods Carrying Motorized 3 Wheelers & Motorized Pedal cycle-Private Carrier |
Premium in Rs. |
| a. except e-catrs | 4200 |
| b. e-carts | 3438 |
| B – Trailers | Premium in Rs. |
| a. Agricultural Tractors upto 6 HP | 510 |
| b.. Other Vehicles including Miscellaneous & Special type of Vehicles (Class-D) |
1307 |
Note: This rate is for each trailer, for more number of trailers, please multiply by no# of trailers
Class C – Passenger Carrying Vehicles used for Hire and Reward
| C.1A – Four wheeled vehicles used for carrying passenger for hire or reward with carrying capacity not exceeding 6 (six) passengers |
Basic TP Premium in Rs. (A) | Premium (Per licensed Passenger)- (B) |
| a) Not exceeding 1000cc | 6396 | 1230 |
| b) Exceeding 1000 cc but not exceeding 1500 cc | 8408 | 1035 |
| c) Exceeding 1500 cc | 11144 | 1183 |
Note: TP Premium is the total of a basic amount (A) plus an amount derived by multiplying the licensed carrying capacity by the amount in (B)
| C.1B – Three wheeled vehicles used for carrying passenger for hire or reward with carrying capacity not exceeding 6 (six) passengers |
Basic TP Premium in Rs. (A) | Premium (Per licensed Passenger)- (B) |
| a. except e-rickshaw | 1733 | 829 |
| b e-rickshaw | 1125 | 538 |
Note: TP Premium is the total of a basic amount (A) plus an amount derived by multiplying the licensed carrying capacity by the amount in (B)
| C.2 – Passenger Carrying vehicles with Seating Capacity exceeding 6 |
Basic TP Premium in Rs. (A) | Premium (Per licensed Passenger)- (B) |
| a) 4 or more wheeled vehicles used for carrying passenger for hire or reward with carrying capacity exceeding 6 (six) passengers | 10294 | 629 |
| b) 3 Wheelers with carrying capacity exceeding 17 passengers | 10294 | 629 |
Note: TP Premium is the total of a basic amount (A) plus an amount derived by multiplying the licensed carrying capacity by the amount in (B)
| C.3 – Motorized three wheeled vehicles used for carrying passenger for hire or reward |
Basic TP Premium in Rs. (A) | Premium (Per licensed Passenger)- (B) |
| a) With carrying capacity exceeding 6 (six) passengers but not exceeding 17 passengers | 4155 | 829 |
Note: TP Premium is the total of a basic amount (A) plus an amount derived by multiplying the licensed carrying capacity by the amount in (B)
| C.4 – Motorized Two wheelers used for carrying passengers for hire or reward |
Basic TP Premium in Rs. (A) | Premium (Per licensed Passenger)- (B) |
| a. Not exceeding 75cc | 702 | 473 |
| b. Exceeding 75 cc but not exceeding 150cc | 702 | 473 |
| c. Exceeding 150 cc but not exceeding 350cc | 702 | 473 |
| d. Exceeding 350cc | 1615 | 473 |
Note: TP Premium is the total of a basic amount (A) plus an amount derived by multiplying the licensed carrying capacity by the amount in (B)
| Class D – Miscellaneous and Special Types of Vehicles | Premium in Rs. |
| a. Pedestrian controlled Agricultural Tractors with Horse Power rating not exceeding 6 HP, Hearses and plane loaders | 897 |
| b. Other Misc. & Spl type of Vehicles | 3822 |
| Class E – Motor Trade (Road Transit Risk) | Premium in Rs. |
| a. Distance not exceeding 2400 Kms | 1088 |
| b. Distance exceeding 2400 Kms | 1308 |
| Class F(i) – Motor Trade (Road Risk) (Excluding Motorized Two Wheelers) | Premium in Rs |
| Named Driver or Trade Certificate | |
| a. 1st named driver or certificate | 985 |
| b. For additional Drivers / Certificates upto 5 (per driver/certificate) | 476 |
| c. For additional Drivers / Certificates exceeding 5 but not exceeding 10 (per driver/certificate) | 307 |
| d. For additional Drivers / Certificates exceeding 10 but not exceeding 15 (per driver/certificate) | 266 |
| Class F(ii) – Motor Trade (Road Risk) (For Motorized Two Wheelers) |
Premium in Rs |
| Named Driver or Trade Certificate | |
| a. 1st named driver or certificate | 530 |
| b. For each additional Drivers / Certificates | 264 |