As per a draft notification, the government has also proposed a 15 per cent insurance premium for electric vehicles and 7.5 per cent for hybrid electric vehicles.
There is some good news for the vehicle owners and buyers. The unjustified motor third party premium hike may not happen on April 1 as expected by the non-life insurers but later in that month.The Ministry of Road Transport and Highways on .
Even at a time when non-life insurers are raking in crores of rupees as premium and paying far less as claims under the motor third party liability policies, the Centre has proposed a hike in the vehicle insurance premium rates for .