VEHICLE INSURANCE PREMIUM
VinFast set to drive into India with locally assembled cars
VinFast, the EV arm of Vietnam's biggest conglomerate Vingroup, is expected to launch its first locally assembled car during the 2025 festive season. It is likely to sell its vehicles in the ₹25-30 lakh range, placing them in the premium affordable segment of India's burgeoning market for EVs. The models are likely to have a range of 300-500 kilometres.
£315,000 Ferrari supercars growl a warning for EVs
Since going public in 2015, the Italian company has expanded both the volume and variety of cars it sells, while preserving exclusivity by raising prices, restricting who can order vehicles and resulting in long waiting lists. Around three-quarters of its cars are purchased by existing clients, while almost half the company’s vehicle sales are hybrids.
Genesys International set to launch its AI-powered maps
Genesys International is set to launch AI-powered navigation maps for the mobility markets, featuring a navigable road network in India covering 8.3 million kilometers and over 30 million points of interest.
Reinsurance and coinsurance not under tax ambit
The GST Council also recommended clarifications on taxability of reimbursements of securities or shares as employee stock option plans given by a company to its workers. Officials said exemptions would be conditional and notified later. Coinsurance, in this instance, refers to insurers sharing insurance-bearing liabilities. Reinsurance is the cover an insurer buys to insure itself through the payment of premiums.
What Is zero depreciation in car insurance?
Car owners are advised to drive responsibly to save on insurance premiums and claim settlements. The concept of zero depreciation insurance ensures full invoice value payment during claims. This add-on is beneficial for new, luxury, or frequently-driven cars, and those in high-risk areas.
Insurance sector can do very well over next 2-3 years: Abhishek Basumallick
So, Hyundai is probably an harbinger of that, but you could actually see more such MNC players coming in and listing their companies in India because of the premium that Indian stocks tend to get.
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Motor insurance rule change: No arbitrary claim rejection, quicker claim settlement, pay as you drive option must, says IRDAI
Motor Insurance New Rules by IRDAI: The Insurance Regulatory and Development Authority of India (IRDAI) has updated the master circular clarifying important rules for motor insurance policyholders. The regulator has proposed the implementation of strict timelines for claim settlements of auto insurance policyholders. It is a crucial step towards improving efficiency and customer satisfaction. Another key change is the introduction of a customer information sheet (CIS) for auto insurance policies to enhance customer awareness.
Why might an insurance company deny your claim during the monsoon?Sandeep Saraf answers
A comprehensive policy does not guarantee that all flood-related damages will be covered. Multiple types of damages can occur during a flood, such as engine damage, electrical damage, interior damage due to water seepage, or gearbox damage. A normal comprehensive package covers these to some extent, but not 100%. We recommend a few add-ons for every customer purchasing a car insurance policy.
Insurers must offer a basic cover, strict claim deadlines
Regulator mandates 'pay as you drive' option in motor insurance. Customers to benefit from tailored products and roadside assistance services. Insurers bear salvage disposal burden, offer flexible 'fire' policy options.
Electric vehicle (EV) insurance: Coverage for battery replacement, roadside assistance top insurance add-ons, finds survey
Premium is the top consideration while picking insurance, claims a recent ICICI Lombard survey on electric vehicles.
Adani One superapp clocked gross sales of Rs 750 crore in FY24
According to the 2023-24 annual report of the Ahmedabad-based conglomerate's flagship company Adani Enterprises, the user base of the superapp grew to 30 million at the end of the financial year. The company aims to expand the superapp's customer base to 400 million by 2030. Adani group is also in discussions with Paytm for potentially acquiring a stake in the fintech firm.
These midcap stocks with ‘strong buy’ & ‘buy’ recos can rally over 25%, according to analysts
After a strong phase upward movement, mid cap stocks are witnessing a sort of selective profit booking move. Profit booking which is mostly happening in line with Q4 numbers. A strong directional move is only likely to appear post election results. During this phase, analysts are bullish on select stocks from different sectors, a number of the stocks on which analysts are bullish are essentially leaders of their sector.ET screener powered by Refinitiv’s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy". This predefined screener is only available to ET Prime users.
General insurers expect premium income growth of 32 pc to Rs 3.7 lakh cr by FY26: Report
The industry's GDPI saw a robust 15.5 per cent year-on-year (YoY) expansion in 2023-24, rising to Rs 2.79 lakh crore on the health segment, it said. Apart from this, the report said that the growth in the motor segment was healthy, supported by the increase in new vehicle sales (two-wheelers, or 2W, rose by 13.3 per cent YoY and passenger vehicles, or PVs, by 8.4 per cent YoY in 2023-24).
Small cars will be big again, says Maruti Suzuki
Maruti Suzuki anticipates a recovery in small car sales due to economic growth. The company aims to capitalize on this trend by introducing new models to cater to diverse customer segments and enhance vehicular safety standards. Small-car sales fell 12% in FY24.
How to select the right motor insurance cover: 8 points to consider
Evaluate your coverage needs based on the type of vehicle and its usage. Determine whether you require basic third-party liability coverage or comprehensive coverage that includes protection against own damage, theft and natural calamities.
Why you should renew your car insurance policy on time?
Renew car insurance promptly to comply with the law, avoid financial burdens, and maintain benefits like no-claim bonuses. Online services simplify the process, ensuring continuous coverage and hassle-free renewals.
Understanding liability in vehicle insurance: What car and bike owners should know
Choosing the right vehicle insurance in India involves understanding liability coverage, comprehensive plans, and exclusions. ACKO provides tailored coverage, add-ons, and competitive pricing for comprehensive protection and peace of mind.
India EV policy to encourage local production of premium electric cars: Audi official
Audi AG executive praises India's new electric vehicle policy for boosting local production of premium electric cars and accelerating EV adoption. The policy includes import duty concessions for companies investing in manufacturing units for EV passenger cars.
Popular Vehicles shares make a tepid debut, but analysts are bullish. Here's why
Despite a tepid debut, analysts are positive about the company's prospects in the medium- to long-term horizon, betting on the strong demand growth for the automobile industry.
Popular Vehicles and Services shares list at 2% discount to IPO price
Popular Vehicles IPO debuted with discounts on NSE and BSE. The company's revenue segments include passenger, commercial vehicles, and electric vehicles. It closed on March 14 with a P/E of 28.9x based on FY23 earnings.
Popular Vehicles & Services IPO to list on Tuesday. What does GMP signal?
Considering the upper price band of Rs 295, the stock is expected to see a flat or even a discounted listing, keeping in trend with the last few debuts, which were muted.
India's new EV policy to help launch many eco-friendly premium-quality SUVs: VinFast Auto
The Indian government's new electric vehicle (EV) scheme aims to drive large investments in manufacturing, create competencies and upskilling, set up a robust supply chain and offer consumers world-class, zero-tailpipe emission vehicles, VinFast India CEO Pham Sanh Chau said in a statement.
Very few people think of life insurance as pure protection: Casparus Kromhout, Shriram Life Insurance
"Everybody in India is used to the fact that life insurance is a savings vehicle, or an alternative savings, or an investment vehicle, and very few people think of it as pure protection," says Casparus Kromhout, MD & CEO, Shriram Life Insurance.
Home insurance is as cheap as it is necessary; find out why and how to buy it
Devastating earthquakes, cyclones and floods are not the only risks that your house is exposed to. The mushrooming of high-rise buildings and growing use of gadgets and appliances have increased the risk of fires. Here is all you need to know about home insurance.
Unlock the road to secure celebrations: A comprehensive guide to motor insurance this festive season
As the festive season approaches, whether you're welcoming a new vehicle into your life or your motor insurance renewal is due, don't delay this prudent decision.
Provide insurance cover to staff travelling in employers' vehicle: Irdai tells insurers
Insurance Regulatory and Development Authority of India (Irdai) further said the compulsory cover of IMT-29 should be provided as an in-built coverage under the Compulsory Motor Third Party Liability Section of Private Car Package/ Bundled Policies and under standalone policies insuring Compulsory Motor Third Party Liability.
Proposed third-party motor insurance premiums for FY 2023-24
The ministry announced the proposed rates via a notification on the E-Gazette website on June 14, 2023. There has been no change proposed in the premium rates for third-party motor insurance for FY2023-24.
Govt issues draft Motor Third Party Premium and Liability Rules for FY24
As per a draft notification issued by the Ministry of Road Transport and Highways (MoRTH), the base premium rates for Motor Third Party Insurance Cover have been proposed at Rs 2,094 for private cars below 1,000 cc, Rs 3,416 for cars (between 1000-1500 cc) and Rs 7,897 for cars exceeding 1500 cc.
Centre proposes to keep vehicle insurance premium unchanged for most categories
Sops which have been continued include a discounted price of 50% of the premium based on the Indian Motor Tariff to a private car registered as vintage car. Another discount of 7.5% on the premium shall be allowed for Hybrid Electric Vehicle. A 15% discount has been provided for Educational institution buses, and for Electric vehicles over comparable fossil fuel run ones.
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