motor guide rates 281207

8/6/2019 Motor Guide Rates 281207

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THE NEW INDIA ASSURANCE COMPANY LIMITEDHEAD OFFICE, MUMBAI

GUIDE RATES w.e.f. 01/01/2008 MOTOR INSURANCE

PREMIUM RATES FOR VARIOUS CATEGORIES OF VEHICLES

I. PRIVATE CAR

Own Damage Premium Rates:Rate on IDV of the vehicle

Ageof

thevehicle

ZONE B ZONE A

CUBIC CAPACITY CUBIC CAPACITY

Notexceeding

1000 cc

Exceeding1000cc but

notexceeding

1500 cc

Exceeding1500 cc

Notexceeding

1000 cc

Exceeding1000cc but

notexceeding

1500 cc

Exceeding1500 cc

Notexceeding

5 years

2.127 % 2.233 % 2.340 % 2.189 % 2.298 % 2.408 %

Exceeding5 years but

notexceeding10 years

2.393% 2.513% 2.632 % 2.462 % 2.585 % 2.709 %

Exceeding10 years

2.940 % 3.087 % 3.235 % 3.026 % 3.176 % 3.328 %

Liability Premium:

CUBIC CAPACITY OF THE VEHICLE PREMIUM

Not exceeding 1000 cc Rs. 670


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Exceeding 1000cc but not exceeding 1500 cc Rs. 800/-

Exceeding 1500 cc Rs. 2500/-

II. TWO WHEELERS

Own Damage Premium Rates:

Rate on IDV of the vehicle

Ageof

thevehicle

ZONE B ZONE A


Notexceeding150 cc

Exceeding150c butnot

exceeding350 cc

Exceeding350 cc Notexceeding150 cc

Exceeding150c butnot

exceeding350 cc

Exceeding350 cc

Notexceeding

5 years1.257 % 1.320 % 1.383% 1.281 % 1.345 % 1. 409%

Exceeding5 years but

notexceeding10 years

1.496 % 1.571% 1.646% 1.524 % 1.600 % 1.677 %

Exceeding10 years

1.802 % 1.892 % 1.982 % 1.836 % 1.928 % 2.020 %


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Liability Premium:

CUBIC CAPACITY OF THE VEHICLE PREMIUMNot exceeding 75 cc Rs. 300/-

Exceeding 75 cc but not exceeding 150 cc Rs. 300/-



III. COMMERCIAL VEHICLES

GOODS CARRYING:

Class A. 1 Public carriers (Other than Three Wheelers):



AGE OF THE VEHICLE ZONE - C ZONE - B ZONE - A

Not exceeding 5 years 1.726% 1.743% 1.751%

Exceeding 5 years and notexceeding 7 years

1.770% 1.787% 1.795%

Exceeding 7 years 1.812% 1.830% 1.839%

Liability Premium:

GROSS VEHICLE WEIGHT (GVW) TP PREMIUM


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(Rs)Not exceeding 7500 Kgs. 5580/-

Exceeding 7500 Kgs. but not exceeding 12000 Kgs 5920/-

Exceeding 12000 Kgs. but not exceeding 20000 Kgs. 6090/-

Exceeding 20000 Kgs. but not exceeding 40000 Kgs. 6260/-

Exceeding 40000 Kgs. 6770/-

Class A.2: Private Carriers (other than Three Wheelers):


Rate on IDV of the vehicleAGE OF THE VEHICLE Zone - C Zone - B Zone - A

Not exceeding5 years

1.208% 1.220% 1.226%

Exceeding 5 years and notexceeding 7 years

1.239% 1.251% 1.257%

Exceeding 7 years 1.268% 1.281% 1.287%

Liability Premium:


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GROSS VEHICLE WEIGHT

(GVW) in Kgs

TP PREMIUM

( Rs.)

Not exceeding 7500 5000/-

Exceeding 7500 but not exceeding 12000 5300/-



Exceeding 40000 6050/-

Class A. 3: Goods Carrying Motorized Three Wheelers and Motorized Pedal Cycles(Public Carriers):


Rate on IDV of the vehicleAge of the Vehicle Zone -C Zone B Zone - A

Not exceeding 5 years 1.640% 1.656% 1.664%

Exceeding 5 but not exceeding 7 years 1.681% 1.697% 1.706%

Exceeding 7 years. 1.722% 1.739% 1.747%


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Liability Premium:

Premium for Liability Only cover Rs. 1530/-.

Class A. 4: Goods Carrying Motorized Three Wheelers and Motorized Pedal Cycles(Private Carriers):


Age of the Vehicle Zone -C Zone - B Zone A

Not exceeding 5 years 1.148 % 1.159 % 1.165 %

Exceeding 5 but not exceeding 7 years1.177 % 1.188 % 1.194 %

Exceeding 7 years. 1.205 % 1.217 % 1.223 %

Liability Premium:

Premium for Liability only Policy Rs.1450/-

B. TARIFF FOR TRAILERS



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No. of Trailersunder tow at anyone time (by oneor more towing

vehicles)

Towed by

Agricultural /ForestryVehicles

Other Vehicles

OwnDamage

(perTrailer)

LiabilityOnl

y(perTrailer)

Own Damage(per Trailer)

Liability Only(per Trailer)

1 Trailer towed2

0.87%For eachTrailer

Rs. 350/-

(For moreone than

Trailer pleasemultiply the

No. of Trailers)

1.05%For eachTrailer

Rs. 550/-

(For moreone than

Trailer pleasemultiply the

No. of Trailers)

2 Trailers towed 0.90% 1.08%








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IV.PASSENGERS VEHICLES:

C. 1.a. Passengers (IV Wheelers) with Carrying Capacity not exceeding 6 passengers:


Age of the vehicle

ZONE B ZONE A


Not

exceeding1000 cc

Exceeding

1000cc but notexceeding1500 cc

Exceeding

1500 cc

Not

exceeding1000 cc

Exceeding

1000cc but notexceeding1500 cc

Exceeding

1500 cc

Notexceeding

5 years

3.191 % 3.351 % 3.510 % 3.284 % 3.448% 3.612 %

Exceeding5 yearsbut not

exceeding7 years

3.271 % 3.435 % 3.598 % 3.366 % 3.534 % 3.703 %

Exceeding7 years

3.351 % 3.519% 3.686 % 3.448 % 3.620 % 3.793 %

Liability Premium:

CUBIC CAPACITY OFTHE VEHICLE

PREMIUM

Not exceeding 1000 cc Rs. 1650 + Rs. 350 x Total No. of passengers thevehicle is licensed to carry.

Exceeding 1000 cc but notexceeding1500 cc

Rs.2330 + Rs. 350 x Total No. of passengers thevehicle is licensed to carry.

Exceeding 1500 cc Rs.2840 +Rs. 350 x Total No. of passengers the


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vehicle is licensed to carry.

C. 1.b. Passengers (III Wheelers) with Carrying Capacity not exceeding 6 passengers:


Rate on IDV of the vehicleAge of Vehicle Zone C Zone B Zone A


1.260% 1.272% 1.278%

Exceeding 5 years but notexceeding 7 years

1.292% 1.304% 1.310%

Exceeding 7 years 1.323% 1.336% 1.342%

Liability Premium:

PREMIUM FOR LIABILITYONLY COVER :

Rs. 510/- + Rs.315 x Total No. of Passengers thevehicle is licensed to carry.


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Class C. 2: Four (or more) Wheeled Vehicles with Carrying Capacity exceeding 6 Passengers and Three Wheelers withCarrying Capacity exceeding 17 Passengers for hire or reward:


Ageof

thevehicle

ZONE C ZONE B ZONE AMaximum Licensed Carrying Capacity Maximum Licensed Carrying Capacity Maximum Licensed Carrying Capacity

N o

t e x c e e

d i n g

1 8 p a s s e n g e r s

E x c e e

d i n g

1 8

p a s s e n g e r s

b u

t n o

t e x c e e

d i n g

3 6

p a s s e n g e r s

E x c e e

d i n g

3 6

p a s s e n g e r s

b u

t n o

t e x c e e

d i n g

6 0

p a s s e n g e r s

E x c e e

d i n g


N o

t e x c e e

d i n g


E x c e e

d i n g

1 8

p a s s e n g e r s

b u

t n o

t e x c e e

d i n g

3 6

p a s s e n g e r s

E x c e e

d i n g

3 6

p a s s e n g e r s

b u

t n o

t e x c e e

d i n g

6 0

p a s s e n g e r s

E x c e e

d i n g


N o

t e x c e e

d i n g


E x c e e

d i n g

1 8

p a s s e n g e r s

b u

t n o

t e x c e e

d i n g

3 6

p a s s e n g e r s

E x c e e

d i n g


b u

t n o

t e x c e e

d i n g

6 0

p a s s e n g e r s

E x c e e

d i n g



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Notexceeding

5 years

Rs 350+

1.656 %

Rs 450+

1.656 %

Rs 550+

1.656 %

Rs 680+

1.656 %

Rs 350+

1.672 %

Rs 450+

1.672 %

Rs 550+

1.672 %

Rs 680+

1.672 %

Rs 350+

1.680%

Rs 450+

1.680%

Rs 550+

1.680 %

Rs 680+

1.680 %

Exceeding 5years but notexceeding 7

years

Rs 350+

1.697 %

Rs 450+

1.697 %

Rs 550+

1.697 %

Rs 680+

1.697 %

Rs 350+

1.714 %

Rs 450+

1.714 %

Rs 550+

1.714%

Rs 680+

1.714%

Rs 350+

1.722 %

Rs 450+

1.722 %

Rs 550+

1.722 %

Rs 680+

1.722 %

Exceeding 7years

Rs 350+1.739 %

Rs 450+1.739 %

Rs 550+1.739 %

Rs 680+1.739 %

Rs 350+1.756 %

Rs 450+1.756 %

Rs 550+1.756%

Rs 680+1.756 %

Rs 350+1.764%

Rs 450+1.764 %

Rs 550+1.764 %

Rs 680+1.764 %

Liability Premium:

Rs 3160 + Rs. 235 X total number of passengers the vehicle is licensed to carry.


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CLASS: C. 3: Motorized Three Wheeled Passenger Carrying Vehicles forhire or reward with Carrying Capacity exceeding 6 but not exceeding 17Passengers.


Rate on IDV of the vehicleAGE OF VEHICLE ZONE C ZONE B ZONE A


1.759% 1.777% 1.785%

Exceeding 5 years but not exceeding 7years 1.803% 1.821% 1.830%

Exceeding 7 years 1.847% 1.866% 1.874%

Liability Premium:

Premium for LiabilityOnly cover

Rs. 1560/- + Rs. 315 x Total No. of passengers thevehicle is licensed to carry.

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CLASS C.4: Motorized

Two Wheelers used for Carrying Passengers for hire or reward:



Ageof

thevehicle

ZONE B ZONE A


Notexceeding150 cc

Exceeding150cc but notexceeding350 cc

Exceeding350 cc

Notexceeding150 cc

Exceeding150cc but notexceeding350 cc

Exceeding350 cc

Not exceeding

5 years

1.743% 1.830 % 1.917 % 1.794 % 1.884 % 1.973 %

Exceeding 5years but notexceeding 10

years

1.787 % 1.876 % 1.965 % 1.839 % 1.931 % 2.023 %

Exceeding 10years 1.830 % 1.922 % 2.013 % 1.884 % 1.978 % 2.072 %

Liability Premium:

Cubic Capacity of Two- Wheeler Liability Only Premium

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Not Exceeding 75 cc Rs. 300/-




V. TARIFF FOR MISCELLANEOUS & SPECIAL TYPES OF VEHICLES(CLASS: D)

Own Damage Premium Rate:

Rate on IDV of the vehicleAGE OF THE VEHICLE ZONE C ZONE B ZONE A

Not exceeding 5 years 1.190 % 1.202 % 1.208 %

Exceeding 5 years but not exceeding 7

years 1.220 % 1.232 % 1.238 %

Exceeding 7 years 1.250 % 1.262 % 1.268 %

Mobile Units: Endorsement IMT 47 is to be used in respect of the following mobileunits:

(a) Mobile Cranes(b) Mechanical Navies, Shovels, Grabs, Rippers and Excavators(c) Dragline Excavators,(d) Mobile Drilling Rigs(e) Mobile Plant

Package policies issued to the above units can be extended to cover damage to theunit by overturning during operational use as a tool of trade at an additional rate of

0.5% of IDV of the vehicle subject to a minimum additional premium of Rs.100/-.

Liability Premium:

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TYPES OF VEHICLE LIABILITY ONLY

PREMIUMi) Pedestrian controlled Agricultural Tractors with

Horse Power rating not exceeding 6 HP, Hearsesand plane Loader

Rs. 400/-

ii) Other Miscellaneous and special type of vehicles Rs. 800/-

VI. TARIFF FOR MOTOR TRADE ROAD TRANSIT RISKS ONLY (CLASS E)

Own Damage Premium Rate:

Rate on IDV of the vehicleDISTANCE RATES OFPREMIUM

Not Exceeding 120 Kms 0.25%

Exceeding 120 Kms but not exceeding 400 Kms 0.30%







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Exceeding 3600 Kms 1.00%

Liability Premium:

i) Distance not exceeding 2400Kms: Rs. 500/-ii) Distance exceeding 2400 Kms : Rs. 600/-

VII. TARIFF FOR MOTOR TRADE - ROAD RISK ONLY (CLASS - F)

(i) Rates of premium for Own Damage cover / Liability Only cover (ExcludingMotorizedTwo Wheelers):


Named Driver or TradeCertificates

Own Damage Premium forCovering Losses upto

Rs. 25,000/-

Liability OnlyPremium

1st Named Driver orCertificate

0.45% on IDV of the vehicle(limited to Rs. 25,000/-)

Rs. 550/-

For additional Drivers/Certificates upto 5

Rs. 175/- per Driver/ Certificate Rs. 265/- perDriver/ Certificate

For additional Drivers /Certificates exceeding 5but not exceeding 10


For additional Drivers /Certificates exceeding10 but not exceeding 15.


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(ii) Motor Trade - Rates of premium for Own Damage cover / Liability Onlycover for Motorized Two Wheelers:


Named Driver or TradeCertificates

Own Damage premium forlosses upto Rs. 7500/-

Liability Onlypremium

1st Named Driver orCertificate

0.45% on IDV of the vehicle(Limited to Rs. 7,500/-)

Rs. 300/-

For each Additional Driveror Certificate

Rs. 85/- per driver Rs. 150/-

VIII. TARIFF FOR MOTOR TRADE - INTERNAL RISKS ONLY (CLASS: G)

Rates applicable for superficial area occupied by the insured for the purpose of Motor Trade business not exceeding 2000 sq. meters.

Premium for Package policies : 0.28% on wages + Rs.150/-

Premium for Liability Only policies : 0.28% on wages

NOTE: For superficial area exceeding 2000 sq. mtrs., additional premium of Rs.15/-and Rs.8/- is chargeable on the Package premium and Liability Only premiumrespectively for every 1000 sq.mtr or part thereof.

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motor guide rates 281207

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