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.)
1Up to 1501,707
2151 to 2501,933
4251 and higher2,159

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Third Party Motor Insurance Rate for Four Wheeler’s in Nepal

S.N.Engine (CC)Price (NRs.)
1Up to 10007,356
21001 to 16008,487
31601 and higher10,747

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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.TitleExplanation
1Vehicle TypeMotorcycle, Private, Commercial and others
2Detail of VehicleDetail of vehicles: CC/ Horse Power / Ton, Chasis No., Engine No.,
  Model, Make of Year, Seats, Registration No
3Period ofTime limit for Insurance
 Insurance 
4Sum InsuredDealer’s Market Price (in case of new)
  Depreciated value as per instruction of Insurance Board (in case of old)
5Discount onCorporate
 PremiumEOD = Excess Own Damage
  No Claim Discount from the second year
  Own Goods Carrying in commercial vehicle
6Additional RisksRiot strike damage, Malicious damage, terrorism, driver risk,
  passenger risk, etc.
7OthersKYC, Signature, etc.

Started Motor Insurance Rate for Vehicles from 1st December 1993 

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