Minimum owner-driver insurance cover raised to â¹15 lakh
Insurance regulator IRDAI has raised the minimum personal accident cover for owner-drivers to â¹15 lakh and has fixed the premium for the cover at â¹750 per annum. Earlier, the mandatory cover was â¹2 lakh for cars and â¹1 lakh for two-wheelers. The owner-drivers also have the option of a cover over and above â¹15 lakh on payment of additional premium.