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Last Updated on March 3, 2022 by Sarina Sindurakar
Third Party Motor Insurance Rate for Vehicles in Nepal are given in brief:
Third Party Motor Insurance Rate for Motorcycles in Nepal
| S.N. | Engine (CC) | Price (NRs.) |
| 1 | Up to 150 | 1,707 |
| 2 | 151 to 250 | 1,933 |
| 4 | 251 and higher | 2,159 |
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Third Party Motor Insurance Rate for Four Wheeler’s in Nepal
| S.N. | Engine (CC) | Price (NRs.) |
| 1 | Up to 1000 | 7,356 |
| 2 | 1001 to 1600 | 8,487 |
| 3 | 1601 and higher | 10,747 |
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Motor Insurance
There are two types of policies that UICL provides in this Motor Insurance Rate for Vehicles insurance:
1. (i) Comprehensive – It includes any loss or damage to the vehicle by: –
(a) Accidental external means
(b) Fire, external explosion, self-ignition, lightning, burglary, house- breaking or theft.
(c) Malicious act
(d) Whilst in transit by road, rail, inland waterway, lift or elevator, and;
(ii) The insured’s liabilities to third party both in respect of bodily injury and properties of the third party.
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2. Third party liability restricted to the liability described in (ii) above and not the insured’s vehicle, the policy can be extended to cover the following perils on payment of additional premium: Flood, Earthquake, Strike, Riot Damage etc.
-Mototcycle
-Private Vehicle
-Commercial Vehicle
| S.No. | Title | Explanation |
|---|---|---|
| 1 | Vehicle Type | Motorcycle, Private, Commercial and others |
| 2 | Detail of Vehicle | Detail of vehicles: CC/ Horse Power / Ton, Chasis No., Engine No., |
| Model, Make of Year, Seats, Registration No | ||
| 3 | Period of | Time limit for Insurance |
| Insurance | ||
| 4 | Sum Insured | Dealer’s Market Price (in case of new) |
| Depreciated value as per instruction of Insurance Board (in case of old) | ||
| 5 | Discount on | Corporate |
| Premium | EOD = Excess Own Damage | |
| No Claim Discount from the second year | ||
| Own Goods Carrying in commercial vehicle | ||
| 6 | Additional Risks | Riot strike damage, Malicious damage, terrorism, driver risk, |
| passenger risk, etc. | ||
| 7 | Others | KYC, Signature, etc. |
Started Motor Insurance Rate for Vehicles from 1st December 1993
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