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 Premium Break-up for Two-wheelers

Vehicle insurance policies have a compulsory 'deductible'- an arrangement whereby the claim amount up to a pre-specified limit has to be borne by the policyholder. This limit is. Rs 50 for two-wheelers, Rs 500 for private cars up to 1,500 cc and Rs 1.000 for private cars over 1,500 cc. So, on a standard policy, for a Rs 500 two-wheelers claim, Rs 50 will be paid by the policyholder and Rs 450 by the insurer.

Insurers offer discounts on premiums to policy holders who opt for a higher deductible, There's a catch, though. When you increase the deductible, you effectively transfer a greater amount of risk to yourself than you would otherwise do under the standard policy, the reward for which is a fall in premium. As the deductible increases, the premium falls. It might seem like a strategy to save premiums, but remember you're taking on greater risk. It's a cost-benefit trade-off, and you have to find your comfort level

Premium Break-up for Two-wheelers
Vehicle Age up to 0-150 cc 150-350 cc over 350 cc
Risk of theft and damage to vehicle:
Zone A
Up to 5 years 1.708 1.793 1.879
6-10 years 1.793 1.883 1.973
Over 10years 1.836 1.928 2.020
Zone B
Up to 5 years 1.676 1.760 1.844
6-10 years 1.760 1.848 1.936
Over 10years 1.802 1.892 1.982
Third-party liability 2 160 175
Occupants 3
Driver 25 25 25
Passengers 4 50 50 50
Zone A: Ahmedabad, Bangalore, Chennai, Hyderabad, Kolkata, Mumbai, New Delhi and Pune;
Zone B Rest of India
1Premium in Rs as percentage of IDV; 2For cover up to Rs 6,000. On payment of an additional Rs50, this cover can be increased to Rs 1 lakh 3Cover of Rs 1lakh per person; 4For two passengers at Rs 25 per person All figures are in Rs and as of August 2000.
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