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About this tool
Estimate the notified motor third party premium for cars and two-wheelers by engine cc or kW, with owner-driver cover and 18% GST.
The Third Party Motor Premium Estimator returns the statutory motor third party premium for a private car or two-wheeler in India, using the rate table notified with effect from 1 June 2022 and banded by engine cubic capacity, or by motor kW for electric vehicles. It adds the compulsory Rs 15 lakh owner-driver personal accident cover at Rs 375 a year and 18% GST to give the amount actually payable. Because the third party rate is notified rather than priced by insurers, the same vehicle attracts the same figure at every company.
Open Third Party Motor Premium Estimator on AltFTool — it loads instantly in your browser.
Choose Vehicle class (Private car or Two-wheeler) and Propulsion (Petrol / diesel / CNG or Battery electric); the rating field is Engine capacity (cc) and switches to Motor power (kW) for an electric vehicle.
Set Policy term to Annual (renewal) or the long-term option for a new vehicle — 3 years for a car, 5 for a two-wheeler — and tick Add owner-driver personal accident cover at Rs 375 a year.
Total payable including GST shows the rate band and the per-year figure, with rows for Notified third party premium, Owner-driver personal accident cover, Taxable premium, GST at 18%, per-month equivalent and the 15% electric vehicle concession; press Copy result.
Uses the notified band table so you can audit an insurer's quote line by line.
Rates electric vehicles on motor kW and shows the 15% concession in rupees.
Adds owner-driver personal accident cover and 18% GST rather than stopping at the base rate.
Under the rates notified from 1 June 2022 the annual third party premium is Rs 2,094 for cars up to 1000 cc, Rs 3,416 for 1001 to 1500 cc and Rs 7,897 above 1500 cc. GST of 18% is charged on top, and the owner-driver personal accident cover adds Rs 375 a year.
The motor third party rate is notified by the Ministry of Road Transport and Highways in consultation with IRDAI, so insurers have no pricing freedom on it. Only the own damage portion of a comprehensive policy differs between companies, which is why comparison shopping affects that component alone.
Yes. Following the Supreme Court direction of 2018, a new private car must buy third party cover for three years and a new two-wheeler for five years as a single upfront premium. For a car up to 1000 cc that three-year premium is Rs 6,521 before GST.
Yes, electric vehicles get a 15% concession and are rated on motor power in kW instead of engine cc. An electric car up to 30 kW pays Rs 1,780 a year against Rs 2,094 for a petrol car up to 1000 cc.
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