Third Party Motor Insurance Rate for Vehicles in Nepal

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.

(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.