ICICI Lombard to hike diesel vehicles' insurance premium

[Minal]

ICICI Lombard will increase policy premium on diesel vehicles over petrol vehicles on an average by 15 percent. As per ICICI Lombard - "Diesel cars are mostly used for commercial purposes. Exposure to risk is higher for these vehicles. Premiums on diesel vehicles will be increased on an average by 15 percent over the petrol ones".

Source - economictimes.com

[Dhruv]

Instead of putting all diesel cars on commercial is not right. They may ask proposer in the proposal form and take a call during underwriting.

[v.r.s.nathan]

Instead of putting all diesel cars on commercial is not right. They may ask proposer in the proposal form and take a call during underwriting. Dhruv - In the past also insurer had put loading on the TATA Indica because most of the cars ( even with Pvt. Nos) are running as taxi. And nobody declare them as commercial to save on insurance premium.