The Insurance Regulatory and Development Authority of India (IRDAI) has proposed up to a 50% hike in third-party (TP) car insurance for many categories of vehicles for FY17-18. But, as usual, will the final hike be reduced after feedback from stakeholders? TP premium varies according to a car’s engine power (cc). For Nano and Alto (up to 1,000cc), you have to pay Rs2,055. There is no...
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