IRDA Raised Minimum Driver Insurance Cover To INR 15 Lakh
Insurance Regulatory and Development Authority raised the minimum insurance cover for owner-driver to Rs. 15 lakh for a premium of Rs. 750 per annum, a move to provide some succour to road accident victims.
Currently, the capital sum insured (CSI) under this section for motorized two-wheelers and private cars/commercial vehicles is Rs. 1 lakh and Rs. 2 lakh, respectively.