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Old 6th March 2017, 07:04   #31
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Default Re: Brace for increase in 3rd-Party Insurance premiums. EDIT: Again in April 2016!

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Originally Posted by condor View Post
Looks like. The premium is being increased especially for 4 wheelers above 1000cc and bikes over 350cc. Details are hazy as of now as I couldn't make out if regular premium is also being increased or only 3rd party.
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Old 6th March 2017, 08:38   #32
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Unhappy Re: Brace for increase in 3rd-Party Insurance premiums. EDIT: Again in April 2016!

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Originally Posted by BoneCollector View Post
Looks like. The premium is being increased especially for 4 wheelers above 1000cc and bikes over 350cc. Details are hazy as of now as I couldn't make out if regular premium is also being increased or only 3rd party.
Its only the Third Party premium which is being hiked. But then cumulatively there would be increase on the overall premium.

Really surprised to see the engine category < 1000 cc to be left out of the hike coz that's where the bulk is. The bad part is the NCB gained for the year is offset by the TPL hike. Infact TPL premium increase would be more than the NCB you earn.
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Old 6th March 2017, 18:01   #33
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Default Re: Brace for increase in 3rd-Party Insurance premiums. EDIT: Again in April 2016!

Hi All,

If we renew the insurance before the 31st MARCH, would we asked to pay the difference of the increased TP premium after the increasse ?

Can you please confirm ?
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Old 6th March 2017, 19:15   #34
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Default Re: Brace for increase in 3rd-Party Insurance premiums. EDIT: Again in April 2016!

There is surely a scam in Motor insurance. I hope IRDA looks into it. Now they are slowly increasing other areas of the policy where no-claim bonus is not valid. No claim bonus is like discount on base airfare. I was quite shocked to see my renewal quote yesterday.


Note from Mod: Please continue the discussion in the new thread

Last edited by Rehaan : 27th March 2017 at 11:39. Reason: Adding a closing note :)
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