Third Party Insurance Rates 2026: Official TP Premium Prices
Complete guide to Third Party (TP) insurance premium rates as per the Motor Vehicles (Third Party Insurance Base Premium and Liability) Rules, 2022. Find the exact TP rates for your vehicle category.
Table of Contents
What is Third Party Insurance?
Third Party (TP) insurance is the minimum mandatory insurance required for all vehicles in India. It covers legal liability for:
- Injury or death of a third party (person).
- Damage to third-party property (up to specified limits).
- Legal liability arising from accidents involving your vehicle.
Important: Third Party insurance is mandatory under the Motor Vehicles Act, 1988. Driving without TP insurance is illegal and punishable with fines up to ₹4,000 and/or imprisonment.
The Government of India, in consultation with IRDAI, notifies the base TP premium rates annually. These rates are published under the Motor Vehicles (Third Party Insurance Base Premium and Liability) Rules. The current rates are based on the 2022 notification (G.S.R. 394(E) dated May 25, 2022).
Private Car TP Rates
The TP premium for private cars depends on the engine capacity (cc). Here are the official rates:
| Engine Capacity | Annual TP Premium (₹) |
|---|---|
| Not exceeding 1000 cc | ₹2,094 |
| Exceeding 1000 cc but not exceeding 1500 cc | ₹3,416 |
| Exceeding 1500 cc | ₹7,897 |
Quick Tip: A 1500cc+ car has the highest TP premium at ₹7,897 per year. Consider add-on covers but remember that TP rates are fixed by the government.
Two-Wheeler TP Rates
Two-wheeler TP premiums are based on engine capacity (cc):
| Engine Capacity | Annual TP Premium (₹) |
|---|---|
| Not exceeding 75 cc | ₹538 |
| Exceeding 75 cc but not exceeding 150 cc | ₹714 |
| Exceeding 150 cc but not exceeding 350 cc | ₹1,366 |
| Exceeding 350 cc | ₹2,804 |
Commercial Vehicle TP Rates
Commercial vehicle TP rates vary based on Gross Vehicle Weight (GVW):
| GVW Category | Annual TP Premium (₹) |
|---|---|
| GVW not exceeding 7,500 kg | ₹16,049 |
| GVW 7,500 - 12,000 kg | ₹27,186 |
| GVW 12,000 - 20,000 kg | ₹35,313 |
| GVW 20,000 - 40,000 kg | ₹43,950 |
| GVW exceeding 40,000 kg | ₹44,242 |
Commercial Vehicle Alert: Commercial vehicles have significantly higher TP premiums. Always ensure your commercial vehicle has valid TP insurance to avoid heavy penalties and legal issues.
Electric Vehicle TP Rates
Electric vehicles have different TP rates based on power output (KW):
| Vehicle Type | Power Output | Annual TP Premium (₹) |
|---|---|---|
| Private Electric Cars | Not exceeding 30 KW | ₹1,780 |
| 30 KW - 65 KW | ₹2,904 | |
| Exceeding 65 KW | ₹6,712 | |
| Electric Two-Wheelers | Not exceeding 3 KW | ₹457 |
| 3 KW - 7 KW | ₹607 | |
| 7 KW - 16 KW | ₹1,161 | |
| Exceeding 16 KW | ₹2,383 |
EV Benefit: Electric vehicles enjoy lower TP premiums compared to petrol/diesel vehicles. For example, a 1000cc petrol car costs ₹2,094, while an equivalent EV (up to 30 KW) costs only ₹1,780.
Long-Term TP Policy Rates
The government allows long-term TP policies for private cars (3 years) and two-wheelers (5 years):
| Vehicle Type | Engine/Power | Long-Term Premium |
|---|---|---|
| Private Cars – 3 Year Single Premium | ||
| Petrol/Diesel Cars | Not exceeding 1000 cc | ₹6,521 |
| Petrol/Diesel Cars | 1000 - 1500 cc | ₹10,640 |
| Petrol/Diesel Cars | Exceeding 1500 cc | ₹24,596 |
| Electric Cars | Not exceeding 30 KW | ₹5,543 |
| Electric Cars | 30 - 65 KW | ₹9,044 |
| Electric Cars | Exceeding 65 KW | ₹20,907 |
| Two-Wheelers – 5 Year Single Premium | ||
| Petrol/Diesel Bikes | Not exceeding 75 cc | ₹2,901 |
| Petrol/Diesel Bikes | 75 - 150 cc | ₹3,851 |
| Petrol/Diesel Bikes | 150 - 350 cc | ₹7,365 |
| Petrol/Diesel Bikes | Exceeding 350 cc | ₹15,117 |
| Electric Bikes | Not exceeding 3 KW | ₹2,466 |
| Electric Bikes | 3 - 7 KW | ₹3,273 |
| Electric Bikes | 7 - 16 KW | ₹6,260 |
| Electric Bikes | Exceeding 16 KW | ₹12,849 |
Saving Tip: Long-term policies offer convenience and protection against annual premium hikes. However, they require a larger upfront payment.
Hybrid & Vintage Vehicle Discounts
The government offers special discounts on TP premiums for certain vehicle categories:
- Hybrid Electric Vehicles: 7.5% Discount – A 7.5% discount on the base TP premium is allowed for hybrid electric vehicles.
- Vintage Cars: 50% Discount – Private cars registered as vintage cars receive a 50% discount on the base TP premium.
FAQs on Third Party Insurance Rates
Q: Are TP rates the same across all insurance companies?
Yes. The base TP premium is fixed by the government and is the same for all insurance companies. However, companies may offer different add-on cover rates and own damage premiums.
Q: Do I only need TP insurance?
TP insurance is the minimum legal requirement. However, it's highly recommended to purchase comprehensive insurance that also covers damage to your own vehicle.
Q: How often do TP rates change?
TP rates are typically revised annually by the government in consultation with IRDAI. The rates mentioned here are based on the 2022 notification and may be updated.
Q: Can I renew my TP policy online?
Yes. Most insurance companies allow online renewal of TP policies. You can also use our free service to check your expiry date and get renewal quotes via WhatsApp.
Q: What happens if I don't renew my TP policy?
Driving without TP insurance is illegal. You'll face penalties up to ₹4,000, imprisonment, and potential vehicle confiscation. Additionally, you'll lose your No Claim Bonus (NCB).
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