Notification issued pertaining to base premium for third party insurance for unlimited liability
The Ministry of Road Transport and Highways, in consultation with the Insurance Regulatory and Development Authority of India, has published Motor Vehicles (Third Party Insurance Base Premium and Liability) Rules, 2022 vide notification dated 25.05.2022. The rules shall come into force on 1st June, 2022.
In the said rules, base premium for third party insurance for unlimited liability has been notified for various classes of vehicles. Following discounts in premium are also allowed in the said rules-
- A discount of 15% has been provided for Educational institution buses
- A discounted price of 50% of the premium has been allowed to a private car registered as Vintage Car.
- A discount of about 15 % and 7.5% on the premium has been allowed for Electric and Hybrid Electric Vehicles, respectively.
MINISTRY OF ROAD TRANSPORT AND HIGHWAYS
NOTIFICATION
New Delhi, the 25th May, 2022
G.S.R. 394(E).—Whereas draft rules for Motor Third Party Premium and Liability Rules for the Financial Year 2022-23 were published, as required by sub-section (1) of section 212 of the Motor Vehicle Act, 1988 (59 of 1988), vide notification of the Government of India in the Ministry of Road Transport and Highways, number G.S.R. 215 (E), dated the 17th March, 2022 in the Gazette of India, Extraordinary, Part-II, Section 3, Sub-section (i) inviting objections and suggestions from all persons;
And whereas, copies of the said notification were made available to the public on 21st March, 2022;
And whereas, the objections and suggestions received from the public in respect of the said draft rules have been duly considered by the Central Government;
Now, therefore, in exercise of the powers conferred by sub-section (2) of section 147 of the Motor Vehicles Act, 1988 (59 of 1988), the Central Government in consultation with the Insurance Regulatory and Development Authority of India, hereby makes the following rules, namely:-
1. Short title and commencement. – (1) These rules may be called as the Motor Vehicles (Third Party Insurance Base Premium and Liability) Rules, 2022.
(2) They shall come into force on 1st June, 2022.
2. Base premium and liability. – The base premium for third party insurance for unlimited liability for the various classes of vehicles shall be as specified in the Tables given below; namely:-
Table I
| Category | Vehicle Type | Rates (Rs) |
| (1) | (2) | (3) |
| Private Cars | ||
| Not exceeding 1000 cc | 2,094 | |
| Exceeding 1000 cc but not exceeding 1500 cc | 3,416 | |
| Exceeding 1500 cc | 7,897 | |
| Two Wheelers | ||
| Not exceeding 75 cc | 538 | |
| Exceeding 75 cc but not exceeding 150 cc | 714 | |
| Exceeding 150 cc but not exceeding 350 cc | 1,366 | |
| Exceeding 350 cc | 2,804 | |
| A1 | Goods Carrying Commercial Vehicles (other than 3 wheelers) | |
| GVW not exceeding 7500 kgs. | 16,049 | |
| Exceeding 7500 kgs but not exceeding 12000 kgs. | 27,186 | |
| Exceeding 12000 kgs but not exceeding 20000 kgs. | 35,313 | |
| Exceeding 20000 kgs but not exceeding 40000 kgs. | 43,950 | |
| Exceeding 40000 kgs. | 44,242 | |
| A2 | Goods Carrying Motorised Three Wheelers and Motorised Pedal Cycles – Public Carriers | |
| except e-carts | 4,492 | |
| A3 | Goods Carrying Motorised Three Wheelers and Motorised Pedal Cycles – Private Carriers | |
| except e-carts | 3,922 | |
| B | Trailers | |
| Agricultural Tractors upto 6 HP | 910 | |
| Other vehicles including Miscellaneous & Special Type of Vehicles (Class-C),(For each trailer, for more please multiply by no. of trailers) | 2,485 | |
Table II
| Category | Vehicle Type | Rates (Rs.) | |
| Basic Rate | Per Licensed Passenger | ||
| (1) | (2) | (3) | (4) |
| C1a | Four wheeled vehicles used for carrying passengers for hire or reward with carrying capacity not exceeding 6 passengers | ||
| Not exceeding 1000 cc | 6,040 | 1,162 | |
| Exceeding 1000 cc but not exceeding 1500 cc | 7,940 | 978 | |
| Exceeding 1500 cc | 10,523 | 1,117 | |
| C1b | Three wheeled vehicles used for carrying passengers for hire or reward with carrying capacity not exceeding 6 passengers | ||
| except e-rickshaw | 2,539 | 1,214 | |
| C2 | Four or more wheeled vehicles used for carrying passengers with carrying capacity exceeding 6 passengers for hire or reward | ||
| Educational institution bus | 12,192 | 745 | |
| Other than educational institution Bus |
14,343 | 877 | |
| C3 a | Motorised three wheeled
passenger vehicles used for |
6,763 | 1,349 |
| C3 b | Motorised three wheeled passenger vehicles used for carrying passengers for hire or reward with carrying capacity exceeding 17 passengers |
15,502 | 948 |
| C4 | Motorised Two wheelers used for carrying passengers for hire or reward | ||
| Not exceeding 75 cc | 861 | 580 | |
| Exceeding 75 cc but not exceeding 150 cc | 861 | 580 | |
| Exceeding 150 cc but not exceeding 350 cc | 861 | 580 | |
| Exceeding 350 cc | 2,254 | 580 | |
Table III
| Category | Vehicle Type | Rates (Rs.) |
| (1) | (2) | (3) |
| D | Special Types of Vehicles | |
| Pedestrian controlled Agricultural Tractors with Horse Power rating not exceeding 6HP, Hearses and Plane Loaders | 1,645 | |
| Other Miscellaneous & Special types of vehicles | 7,267 | |
| E | Motor Trade (Road Transit Risks) | |
| Distance not exceeding 2400 kms. | 1,175 | |
| Distance exceeding 2400 kms. | 1,412 | |
| Fa | Motor Trade (Road Risks) (Excluding Motorised Two Wheelers) – (Named Driver or Trade Certificate) | |
| 1st named driver or certificate | 1,498 | |
| For additional drivers/ certificates up to five (per driver/certificate) | 725 | |
| For additional Drivers/ Certificates exceeding five but not exceeding 10 (per driver/ certificate) | 467 | |
| For additional Drivers/ Certificates exceeding ten but not exceeding 15 (per driver/ certificate) | 404 | |
| Fb | Motor Trade (Road Risks) (Motorised Two Wheelers) – (Named Driver or Trade Certificate) | |
| 1st named driver or certificate | 515 | |
| For each additional Driver/ Certificate | 257 | |
Table IV
| Category of Vehicle | Rates (Rs.) | |
| (1) | (2) | |
| New Private Car – Three year single premium | ||
| Not exceeding 1000 cc | 6,521 | |
| Exceeding 1000 cc but not exceeding 1500 cc | 10,640 | |
| Exceeding 1500 cc | 24,596 | |
| New Two Wheeler – Five year single premium | ||
| Not exceeding 75 cc | 2,901 | |
| Exceeding 75 cc but not exceeding 150 cc | 3,851 | |
| Exceeding 150 cc but not exceeding 350 cc | 7,365 | |
| Exceeding 350 cc | 15,117 | |
Table V
Rates for Electric vehicles
| Category | Vehicle Type | Rates (Rs) |
| (1) | (2) | (3) |
| Private Cars | ||
| Not exceeding 30 KW | 1,780 | |
| Exceeding 30 KW but not exceeding 65 KW | 2,904 | |
| Exceeding 65 KW | 6,712 | |
| Two Wheelers | ||
| Not exceeding 3 KW | 457 | |
| Exceeding 3 KW but not exceeding 7 KW | 607 | |
| Exceeding 7 KW but not exceeding 16 KW | 1,161 | |
| Exceeding 16 KW | 2,383 | |
| A1 | Goods Carrying Commercial Vehicles (other than 3 wheelers) | |
| GVW not exceeding 7500 kgs. | 13,642 | |
| Exceeding 7500 kgs but not exceeding 12000 kgs. | 23,108 | |
| Exceeding 12000 kgs but not exceeding 20000 kgs. | 30,016 | |
| Exceeding 20000 kgs but not exceeding 40000 kgs. | 37,357 | |
| Exceeding 40000 kgs. | 37,606 | |
| A2 | Goods Carrying Motorised Three Wheelers and Motorised Pedal Cycles – Public Carriers | |
| e-carts | 3,139 | |
| A3 | Goods Carrying Motorised Three Wheelers and Motorised Pedal Cycles – Private Carriers | |
| e-carts | 3,211 | |
Table VI
Long term rates for electric vehicles – Private Cars and Two wheelers
| Category of Vehicle | Rates (Rs.) | |
| (1) | (2) | |
| New Private Car – Three year single premium | ||
| Not exceeding 30 KW | 5,543 | |
| Exceeding 30 KW but not exceeding 65 KW | 9,044 | |
| Exceeding 65 KW | 20,907 | |
| New Two Wheeler – Five year single premium | ||
| Not exceeding 3 KW | 2,466 | |
| Exceeding 3 KW but not exceeding 7 KW | 3,273 | |
| Exceeding 7 KW but not exceeding 16 KW | 6,260 | |
| Exceeding 16 KW | 12,849 | |
Table VII
Rates for Electric vehicles – Passenger carrying
| Vehicle type | KW Segments | Basic TP premium (Rs.) |
Premium per licensed passenger (Rs.) |
| (1) | (2) | (3) | (4) |
| C1a (Four wheeled vehicles used for carrying passengers for hire or reward with carrying capacity not exceeding 6 passengers) | Not exceeding 30 KW | 5,134 | 988 |
| Exceeding 30 KW but not exceeding 65 KW | 6,749 | 831 | |
| Exceeding 65 KW | 8,945 | 949 | |
| C1b (Three wheeled vehicles used for carrying passengers with carrying capacity not exceeding 6 passengers) |
e-rickshaw | 1,648 | 789 |
| C2 (Four or more wheeled vehicles used for carrying passengers with carrying capacity exceeding 6 passengers for hire and reward) |
Educational institution bus | 10,363 | 633 |
| Other than educational institution bus | 12,192 | 745 | |
| C3a (Motorised three wheeled passenger vehicles used for carrying passengers for hire or reward with carrying capacity exceeding 6 passengers but not exceeding 17 passengers) |
– | 5,749 | 1,147 |
| C3b (Three wheeled vehicles used for carrying passengers for hire and reward with carrying capacity exceeding 17 passengers) |
– | 13,177 | 806 |
| C4 (Motorised Two Wheelers used for carrying passengers for hire or reward) | Not exceeding 3 KW | 732 | 493 |
| Exceeding 3 KW but not exceeding 7 KW | 732 | 493 | |
| Exceeding 7 KW but not exceeding 16 KW | 732 | 493 | |
| Exceeding 16 KW | 1916 | 493 |
Table VIII – Quadricycle
| Category | Vehicle Type | Rates (Rs.) | |
| Basic Rate | Per Licensed Passenger |
||
| (1) | (2) | (3) | (4) |
| Quadricycle | Private Car | 2,094 | N/A |
| Electric private Car(Not exceeding 30 KW) | 1,780 | N/A | |
| Commercial Vehicles not exceeding 500 CC | 2,539 | 1,214 | |
Long term rates – Three years single premium:
| Category | Vehicle Type | Rates (Rs.) |
| (1) | (2) | (3) |
| Quadricycle | New Private Car | 6,521 |
| New Electric private Car (Not exceeding 30 KW) | 5,543 |
Note.-
I. Educational institution bus means an omnibus, which is owned by a college, school or other educational institution and used solely for the purpose of transporting students or staff of the educational institution in connection with any of its activities.
II. A discounted price of 50% of the premium based on the Indian Motor Tariff shall be allowed to a private car registered as Vintage Car.
III. A discount of 7.5% on the premium shall be allowed for Hybrid Electric Vehicle.
IV. All rates of premium shall be rounded off to the nearest rupee.
V. The category of vehicles under the Tables shall have the meaning assigned to a particular category of vehicles under Central Motor Vehicle Rules, 1989.
[F. No. RT-11036/194/2021-MVL]
AMIT VARADAN, Jt. Secy.
