Work out third party premium instantly with clear inputs, formula shown and shareable results.
Third-party motor premium is set by the regulator, not the insurer, and is banded by vehicle class and engine capacity. It is compulsory, cannot be discounted, and is separate from the own-damage premium which insurers do price competitively.
Third-party premium
TP premium = Regulated rate for the vehicle class and engine capacity band x Policy term
Total statutory
Total = TP premium + Owner-driver personal accident premium
Indicative estimate only. Fees, entitlements, limits and formulas vary by jurisdiction, statute, policy wording and the facts of the case. This is not legal, tax, insurance or financial advice — confirm with a qualified professional or the relevant authority.
Because the rate is fixed by the insurance regulator for all insurers. Only the own-damage element is open to competition and no-claim discounts.
They are illustrative bands. Regulated rates are revised periodically, so confirm the current tariff before relying on the figure.