Stop the 110% Increase of Premium on Motorcycles above 350CC In India
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Dear IRDAI/ MOTH / PMO,
On Thursday, 29th March, The IRDAI cut rates, on an average, between 10% and 20% for bikes, cars and passenger vehicles.
While every other category (as published by TOI, March 30th edition Page 15) saw a decrease, the only section that was targeted was motorcycles above 350CC, which was increased by 110%.
Why is this gross injustice being done? As owners of motorcycles over 350CC, we too are legal Tax paying residents of this country. In fact, we are in all probability the highest contributors to road tax in the state in terms of monetary value.
There may be some argument that the high end cars are being used for commuting and therefore Insurance not increased. This is a totally illogical step, we use our motorcycles for commute as well.
We have purchased these vehicles with our hard earned money, spent more of our money on registering them and paying insurance to ensure that the vehicle, owner and third parties are covered in case of any untoward incident.
This is a totally unfair increase without any logic whatsoever. We urge you to re-look at this policy and make a change to be in line with the rest of the adjustments made to the premiums.
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