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Our Bureau

Mumbai , Dec. 29

The Western India Automobile Association has appealed to the IRDA for reconsidering the hike in third party premium on private cars. Mr Nitin Dossa, Chairman, WIAA, said that while the premium for third party insurance of commercial vehicles had been increased by a maximum of 150 per cent, for high-end private cars, the hike has been as much as 250 per cent.

As per the new rate structure, effective January 1, for cars with cubic capacity exceeding 1500 cc the premium will increase to Rs 2,500, a jump of 257 per cent from Rs 700. The cars in this category (exceeding 1500 cc) include Chevrolet, Fiat, Ford, Honda, Hyundai, Mahindra, Maruti and Mitsubishi, Skoda.

Mr Dossa said, "The claims from the private car owners are not high. Also private cars do not run as much as commercial vehicles and are mainly confined to cities."

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