Car insurance rates increase 10% in 2023

Due to the Ukraine war and other natural calamities, the reinsurers profit was reduced as they had to pay out larger amounts.
Hence the reinsurers have greatly increased the rates they charge to insurance companies
There are more than 20 vehicle insurance companies in India
These car insurance companies are likely to increase their insurance rates by at least 10% this year.
So car owners should plan to increase the insurance which they pay.