A motor vehicle policy is an official document that clearly defines how a company’s employees should make use of company vehicles on a day-to-day basis.
This motor vehicle policy template aims at optimising the management and ensuring proper use of company-provided vehicles for safe operation and benefit of employees, contractors, and volunteers.
consistent with a draft printed by the Insurance regulative and Development Authority of India on twenty could the third-party premium for personal cars up fifteen to fifteen00 cc and Motor Insurance Plan two-wheelers up to 350 cc are anticipated to extend by up to 15.3% and 21.1%, severally.
The premium for personal cars over for 1500 cc and two-wheelers higher than 350 cc is anticipated to starting at the FY19 rates.
The revision in third-party premiums is anticipated to impact a majority of automotive and two-wheeler homeowners.
consistent with latest trends in domestic sales of cars and two-wheelers, over two million of the three.4 million traveler cars oversubscribed in FY19 ar with AN engine of but one,400 cc.
The final notification for FY20 premiums is nonetheless to be printed and also the premium is presently being charged at FY19 rates.
In FY19, the premium for smaller cars of up to one,000 cc was reduced by about to 100% compared to FY18.
consistent with a draft printed by the Insurance regulative and Development Authority of India on twenty could the third-party premium for personal cars up fifteen to fifteen00 cc and Motor Insurance Plan two-wheelers up to 350 cc are anticipated to extend by up to 15.3% and 21.1%, severally.
The premium for personal cars over for 1500 cc and two-wheelers higher than 350 cc is anticipated to starting at the FY19 rates.
The revision in third-party premiums is anticipated to impact a majority of automotive and two-wheeler homeowners.
consistent with latest trends in domestic sales of cars and two-wheelers, over two million of the three.4 million traveler cars oversubscribed in FY19 ar with AN engine of but one,400 cc.
The final notification for FY20 premiums is nonetheless to be printed and also the premium is presently being charged at FY19 rates.
In FY19, the premium for smaller cars of up to one,000 cc was reduced by about to 100% compared to FY18.
If you don’t already know, third party motor insurance is mandatory for each and every vehicle plying on the Indian road, as per the Motor Vehicles Act, 1988.
So if you own a two-wheeler vehicle, you are legally obliged to purchase third party bike insurance before you can ride it on the road.
If you get caught riding without a proper two-wheeler insurance policy or an expired policy you may have to pay a hefty fine.Even though we all would love to have an empty road to drive on, it is pretty much impossible.
This is the reason why we all need to be aware of our own protection as well as the other people’s safety while driving or riding our two-wheeler vehicle.
In the worst-case scenario, if you happen to run into someone, it always the best idea to be insured by a Third Party Liability Only Cover, which is now obligatory as per the Motor Vehicles Act.
A participating policy allows you as a policy holder to share the profits of the insurance company.
These profits are shared in the form of bonuses or dividends.
It is also called a with-profit policy.
