[ghodlur]

An additional blow to the vehicle owners is coming in the form of hike in the Third party premium liability (TPL) premium. Morth issued an circular to increase the TPL premium after 2 yrs which were left untouched due to Covid pandemic. However one bright side is that there is a discount on the premium upto 15% for the electric vehicles (private + public) whereas a discount of 7.5% is proposed for Hybrid vehicles. The hike in TPL rates will be effective from 1st April 2022. Pls see the attached draft for the premium details.

The logic to hike the premiums of TPL seems to be flawed since the govt wants to compensate the increase insurance claims in health sector with the reduced motor claims during the past 2 yrs of pandemic.

Although this is still in draft stage, but looks more likely to be finalized unless there is a strong opposition since the move is coming post the elections period.

https://www.business-standard.com/ar...0401361_1.html

https://www.livemint.com/companies/n...621892339.html

https://www.ndtv.com/business/govt-p...fiscal-2805801

[anjan_c2007]

MoRTH has become hyperactive lately. They take numerous unpopular decisions every few months with just one or two of them really in favour of the automobile owners. The third party (TP) premiums are classless. That is, all those insured are equals whether they bang their cars on some third party injuring or killing one or more or are nailed for drunk driving and other serious traffic violations including accidents that put the insurer on the edge. And safe and careful drivers/ owners are too equated with the former category.

Hence, for the acts or accidents by the former category, wherein insurers pay through their noses to settle the claims, the latter categories of safe drivers/owners are also made to pay TP premiums through their noses, that are hiked at regular intervals. All categories of drivers/owners are equal for TP insurance.

And for the right to property as in communist countries getting the thumbs down and getting abrogated, MoRTH has devised the scrapping policy wherein if your car/bike is unfit to conform to their foolish standards the owner will be deprived of the car/bike.

Leftist ideologies still survive courtesy the MoRTH.

[deetjohn]

Originally Posted by ghodlur

The logic to hike the premiums of TPL seems to be flawed since the govt wants to compensate the increase insurance claims in health sector with the reduced motor claims during the past 2 yrs of pandemic.

Car ownership in India summed up!

[thanixravindran]

It looks like Government has notified the third party insurance premium hike effective from 1 June 2022. Refer below link

https://www.businesstoday.in/persona...179-2022-05-26

The rate difference is hardly few rupees for cars, so not sure what is the reason behind the revision.