Third party premium rates for battery driven e carts or e rickshaws

By | November 6, 2015
The Motor Vehicles Amendment Act, 2015, as notified in the Gazette of India on 20th March 2015, brings the e-carts and e-rickshaws under its ambit. As per the amendment, e-carts or e-rickshaws are special purpose battery powered vehicles not exceeding 4000 watts, having three wheels for carrying goods or passengers, as the case may be, for hire or reward.
In view of the said amendment, it is required to provide the applicable third party premium rates for battery driven three wheeled vehicles up to 4000 watt in respect of
(i)            Passengers carrying vehicles and
(ii)          Goods carrying vehicles: (a) Private carriers & (b) Public carriers.
Battery powered (not exceeding 4000 watt ) e-carts and e-rickshaws
IMT Classification
Three Wheeler (Passenger) up to 6 passengers
Rs 1,066/- + (Rs. 510/- per passenger X Total no. of passengers the vehicle is licensed to carry)
Three Wheeler (Goods – Public Carrier)
Rs. 3,760/-
Three Wheeler (Goods – Private Carrier)
Rs. 3,257/-
In the meantime, it is noticed that the Passenger Premium Rate for Motorized Two wheelers used for carrying passengers for hire or rewards has not been provided. Therefore the following premium rates shall be applicable:
Motorized Two wheelers used for carrying passengers for hire or rewards
IMT classification
Basic Premium Rs.
Premium (per licensed passenger) Rs.
C 4
Not exceeding 75 cc
Exceeding 75 cc but not exceeding 150 cc
Exceeding 150 cc but not exceeding 350 cc
Exceeding 350 cc
* TP Premium is the total of a Basic Amount (A) plus an amount derived by
   multiplying the licensed carrying capacity by the amount in (B)
This has approval of the competent Authority
(N M Behera)
Deputy Director
Source :IRDA

Leave a Reply