Third Party insurance for vehicles validity extended till 31 dec, right??

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Yes it is but its better to renew by staying with your regular schedule
 
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I dont think schedule matters in case of third party insurance, I mean its just third party insurance...Not like comprehensive insurance that i will lose No claim bonus or they will have to inspect my vehicle again before insurance. And who knows maybe government will extend the third party insurance validity again so might save me some money. 🙂
 
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Is your vehicle over15 years old? I suggested sticking to your schedule as I am not a lawyer and so prefer sticking to the letter of the law. I am not really sure how much will be the saving on delaying it in this case.
 
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It was extended, but I think you should renew it as per the schedule.

I've received an offer on my comprehensive policy which is expiring on January 18, 2021. Wondering if I should renew it right now.

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socrates said:
Is your vehicle over15 years old? I suggested sticking to your schedule as I am not a lawyer and so prefer sticking to the letter of the law. I am not really sure how much will be the saving on delaying it in this case.
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No my vehicle is only 9 years old but I dont have comprehensive insurance, only third party. And if government has extended the validity of the third party insurance then I dont see the need to renew it (maybe they will extend the validity again).. I mean if it is valid why should I renew it? you dont get any no claim bonus in third party insurance. so even if is expired you can just buy a new one at no extra cost AFAIK. If i am wrong please someone correct me.
 

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m.economictimes.com

Govt proposes hike in 3rd-party motor insurance premium from next fiscal

According to the proposed revised rates, private cars with 1,000 cubic capacity (cc) will attract rates of Rs 2,094 compared to Rs 2,072 in 2019-20. Similarly, private cars with 1,000 cc to 1,500 cc will attract rates of Rs 3,416 compared to Rs 3,221, while owners of car above 1,500cc will see a...
m.economictimes.com m.economictimes.com
 
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