Page 18 - Insurance Times November 2021

Category of Vehicle Sub Category Rates Rates No of Weigh- Weigh- Weightagd Weightagd
for for times tage tage Premium Premium
2002-03 2019-20 Increase 2002-03 2019-20 2002-03 2019-20
% %
Goods Carrying Vehicles Public GVW not exceeding 7500 kg 3280 15746 5 17 13 541 2022
Carriers Other Than Three GVW Exceeding 7500 kg but not
Wheelers exceeding 12000 kg 3480 26935 8 17 13 574 3458
GVW Exceeding 12000 kg but not
exceeding 20000 kg 3580 33418 9 17 13 591 4291
GVW Exceeding 20000 kg but not
exceeding 40000 kg 3680 43037 12 17 13 607 5526
GVW Exceeding 40000 kg 3980 41561 10 17 13 657 5336
Goods Carrying Vehicles Private GVW not exceeding 7500 kg 2940 8438 3 17 13 485 1083
Carriers Other Than Three GVW Exceeding 7500 kg but not
Wheelers exceeding 12000 kg 3120 17204 6 17 13 515 2209
GVW Exceeding 40000 kg 3560 24825 7 17 13 587 3188
GVW Exceeding 12000 kg but not
exceeding 20000 kg 3200 10876 3 17 13 528 1396
GVW Exceeding 20000 kg but not
exceeding 40000 kg 3300 17476 5 17 13 545 2244
Goods carrying Motorised Three
Wheelers and Motorised Pedal
Cycles Public Carriers Except e-carts 900 4092 5 17 13 149 525
Goods carrying Motorised Three
Wheelers and Motorised Pedal
Cycles Private Carriers Except e-carts 850 3914 5 17 13 140 503
Four Wheeled Vehicles used for
carrying passengers for hire or
reward - Capacity not
exceeding 6 passengers Not Exceeding 1000 cc 2210 12429 6 13 13 285 1653
Exceeding 1000 cc but not
exceeding 1500 cc 2610 13188 5 13 13 337 1754
Exceeding 1500 cc 2910 16453 6 13 13 375 2188
Three Wheeled Vehicles used
for carrying passengers for hire
or reward - Capacity not
exceeding 6 passengers Except e-rickshaw 1410 10041 7 17 13 233 1289
Motorised Three wheeled
vehicles used for carrying
passengers for hire or reward -
Capacity exceeding 6 but not
exceeding 17 4065 30356 7 17 13 671 3898
Motorised Two Wheelers used
for carrying passengers for
hire or reward Not Exceeding 75 cc 150 1441 10 71 74 106 1064
Exceeding 75 cc but not
exceeding 150 cc 175 1441 8 71 74 124 1064
Exceeding 150 cc but not
exceeding 350 cc 195 1441 7 71 74 138 1064
Exceeding 350 cc 210 2834 13 71 74 148 2093
Special type of vehicles rating not exceeding 6 HP,
and Plane Loaders 375 1550 4 17 13 62 199
Hearses 115 1550 13 17 13 19 199
Other Miscellaneous and
special type of vehicles 785 6847 9 17 13 130 879
Average Rate 298 1754

(The ratio of number of each class/category of vehicle to the total number of vehicles is assigned as the weightage to
respective category of vehicles - "Refer Annexure C" for number of different category of vehicles. And columns for weighted
premium are calculated by multiplying premiums of respective years with weightage relating to those years)

It is clear from the information reflected in the table, that the premium rates in 2019-20 have gone up without exception,

18 The Insurance Times, November 2021