Govt hikes third-party motor insurance premium after 2 yrs; effective from June 1

The Centre has hiked the third-party motor insurance premium for various categories of vehicles from June 1 after a gap of two years. Among the revised rates, for private cars with a 1,000 cc engine, the premium has been hiked to $2,094 from 2,072 and for two-wheelers with 150 cc-350 cc engine capacity, the premium has been increased to 1,366.