Is bike insurance and car insurance use the same premium calculation methods? One agent told it is a fixed tariff, What is 'Tariff'?
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Is bike insurance and car insurance use the same premium calculation methods? One agent told it is a fixed tariff, What is 'Tariff'?
Previously it was fixed for all the companies by TAC(Tariff Advisory Committee). This is now open for each and every company to fix there own rates. But still most of the companies use previous motor tariff for bench mark the new premium rates.
Method are same like all insurance companies premium depend upon - CC, Area of operation, cost etc.Quote:
Originally Posted by Manoj Kumar