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Third-party Vehicle Insurance Policy
Issue 36, September 6, 2009
By KTM Metro Reporter in Kathmandu
On August 31, 2009, the Government of Nepal has made public the ‘Vehicle Insurance Directive of 2009 (2066) making it effective on September 1, 2009. Following the directive, compensation for a death is made Rs 500,000 but total amount to be paid to the family of a dead person comes to Rs 740,000, for disability Rs 500,000 and so on.
The annual premium for the third-party insurance varies from Rs 1,000 to Rs 10,500. Motorcycles of varying power pay premium of Rs 1,000 to 1,400 per annum. Private vehicles of varying power will pay Rs 3,000 to 6,000 per annum. Commercial vehicles pay premium of Rs 6,500 to 10,000 per annum.
