Ministry of Road Transport and Highways (Ministry) vide ref. No G.S.R. 32(E) dated January 5, 2024 has issued Motor Vehicles (Third Party Insurance Base Premium and Liability) Amendment Rules, 2024 further to amend the Motor Vehicles (Third Party Insurance Base Premium and Liability) Rules, 2022 for the Financial Year (FY) 2023-24.
The amended Motor TP Premium Rates shall be applicable from the date of their publication in the Official Gazette i.e. January 06, 2024.
There is no change in the base premium rates for third-party insurance for any category of vehicle, except three-wheelers carrying passengers for hire and reward as below:
Category
Vehicle Type
Existing Rates
Amended Rates
Basic Rate
Per Licensed Passenger
Basic Rate
Per Licensed Passenger
Three-wheeled vehicles used for carrying passengers for hire and reward with carrying capacity not exceeding 6 passengers
Except e-rickshaw
2,539
1,214
2,371
1,134
e-rickshaw
1,648
789
1,539
737
The copy of the notification and comparison of Motor TP Premium Rates for the FY 2022-23 vis-a-vis rates proposed in the amended Rules has been attached herewith for your ready reference.
Source category: Unmetadated — Note: original site listing metadata was unavailable for this record; date was inferred from notice text or system record.
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