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IRDAI proposes changes in vehicle depreciation calculation

Updated : November 25, 2019 10:54 PM IST

For brand new private cars up to 3 years, the sum insured "shall represent the current day on-road price of the vehicle"
For vehicles older than three years, depreciation would gradually increase from 40 percent to 60 percent up to 7 years
IRDAI proposes changes in vehicle depreciation calculation

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