As you have asked about the Premium Rates for Motor Third Party (TP) Liability Insurance by Insurance Regulatory and Development Authority (IRDA) of India, I am giving you information about it, check below for the details

The Authority decided to review the premium rates for motor third party liability insurance covers annually using the specified formula:

P (t) = C1(t)* Cil (t-1)+ C2 (t)

Where,
P (t) is the motor TP premium applicable to the financial year ’t‘,
CH (t-l) is the Cost inflation Index for the year ’t-1’ as notified by CBDT, and
C1 (t) and C2 (t) are the parameters applicable to the financial year 't’ whose values shall be determined and notified by the Authority in each financial year based on the experience measured in terms of average claim amounts, frequency and expenses involved in servicing the motor TP business.
The values of the parameters C1 (t) and C2 (t) may vary according to the class of vehicle.

It is observed that there is a wide variation in premium changes amongst the various subclasses of a given class of vehicle.

The Authority decided to moderate the rate increases in the following classes:

a. Private Cars
Two Wheelers - Exceeding 150 cc but not exceeding 350 cc
Goods Carrying Vehicles Public Carriers (Other than 3 wheelers) - Exceeding 20000 kgs but not exceeding 40000 kgs and Exceeding 40000 kgs
d. Goods Carrying Vehicles Private Carriers (Other than 3 wheelers) - Exceeding 40000kgs
e. Four wheeled vehicles used for carrying passangers for hire or reward with carrying capacity not exceeding 6 passangers - Not exceeding 1000 cc and Exceeding 1500 cc
f. Three wheeled vehicles used for carrying passengers for hire or reward with carrying capacity not exceeding 6 passengers
g. Motorized three wheeled passenger vehicles used for carrying passengers for hire or reward with carrying capacity exceeding 6 passengers but not exceeding 17 passengers
h. Special Types of Vehicles