Andhra Pradesh Transport department has served notices to several insurance...
The regulator has published a detailed list of new premiums on its website. For example, third party premium for cars upto 1000cc will be hiked by almost 40 percent from Rs. 1,468 currently to Rs 2,055 and for cars (1000cc - 1500cc) the new premium is Rs 2,237. For cars exceeding 1500cc, the new premium after a 25 percent hike is Rs 6,164.
In two wheelers, below 75cc, the new premium is Rs 569 up from Rs 519. In the category 75-150cc, the new premium stands at Rs 619, while that in the category of 150cc-350cc it is Rs.693. The third party motor insurance premium for two-wheelers above 350cc vehicles category is Rs 796.
The regulator however, has refrained insurers from cancelling policies already issued on old rates; new increased premium will be applicable from April 1, 2016.