WebMar 30, 2012 · Just received an IRDA circular revising the Compulsory Deductible Amount. Current Scenario : Private Car : Rs 500. Two Wheeler : Rs 50. Changed Scenario ( Not sure on the effective date , possible with Immediate Effect) Private Car upto 1500 CC : Rs 1000. Private Car greater than 1500 CC : Rs 2000. Two Wheeler : Rs 100. WebIt is as per the guidelines of the Insurance Regulatory Development Authority of India (IRDAI). As per IRDA guidelines, the rates of compulsory deductibles in cars are given below accordingly: Rs.1,000 for cars up to 1,500 cc and Rs.2,000 for cars exceeding 1,500cc Voluntary deductible
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WebJul 8, 2024 · The following are the two types of deductibles in car insurance. 1. Compulsory Deductibles. These are insurance deductibles, as the name implies, and … WebThe less risk (lower deductible), the higher your insurance costs would be. Let's say there's a bad hailstorm in your area and your vehicle has $1,000 in damage. You have a $100 deductible on your comprehensive coverage. You'll pay the first $100, and then your insurance company will pay the remaining $900 of the vehicle repair bill. markhams clothing catalogue south africa
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WebThis amount is dependent on the engine capacity of your car engine. As of now, the compulsory deductible amount for private cars of 1500 cc and above is two thousand … Weba) Compulsory Deductible In Car Insurance. The compulsory deductible amount is fixed by the insurer and has to be paid compulsorily by the policyholder whenever any … WebNov 17, 2024 · Compulsory Deductible is also known as Compulsory Excess in motor insurance. It is the part of the claim amount which you will have to bear out of your pocket. The amount is decided by the Insurance Regulator. For cars not exceeding 1500 cc, the amount is fixed as Rs. 1,000 For cars exceeding 1500 cc, the amount is fixed as Rs. 2,000 navy barracks inspection sheet