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How cheap will Nano insurance be?

The good news is that insurance for the small car could be available for as low as Rs 2,000 and could fall further if Tata assures insurers of the availability of low-cost spares.

Apnainsurance.com Research Bureau

28 Jan 2008

With the launch of the Tata Nano, the next debate has already started - How cheap will its insurance be?

Historically, insurance tariffs have been set with respect to the value of the car and its cubic capacity. Without any data about the Nano, motor insurers will have to revert to this method. That is, unless Tata Motors divulge how cheap or dear spares will be to insurers.

The good news is that insurance for the small car could be available for as low as Rs 2,000 and could fall further if Tata assures insurers of the availability of low-cost spares.

On the other hand, funding the Nano could be more expensive. Lenders say that a majority of potential Nano buyers could be moving up from two-wheelers and hobby customers. Historically, this profile attracts higher interest rates on funding.

Most financiers believe there will be a huge demand for the Tata Nano.



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