New Delhi, June 09, 2025.
The insurance regulator, IRDAI has suggested an average premium increase of 18% in case of third party auto insurance policies. While in case of some vehicle categories, this increase could be between 20% to 25%. The final decision on this proposal will be taken by the Ministry of Road Transport and Highways. A decision could be made in next 2 to 3 weeks.
After the ministry’s approval, a draft notification will be issued for public consent. Following this, other processes such as taking suggestions and reviews will be conducted. Only then all the new changes will be implemented. There has been no change in the premiums of auto insurance policies for the past three years.
