IRDA Makes 5-Year Third Party Insurance Mandatory; Vehicle Prices To Go Up

Added in: Bajaj Auto

The on-road prices for motorcycles will go up by at least INR 3,000 as Insurance Regulatory and Development Authority (IRDA) has made 5 year third party insurance mandatory as against the current coverage for 1 year. This is in line with Supreme Court’s decision that the third party insurance cover for two-wheelers should be for a period of five years.

car insurance

In an attempt to attract buyers, Bajaj Auto urges potential customers to avail the hat-trick offer on or before the August 31, 2018. This is because one of the key benefits of this offer is one-year free insurance for customers buying a Platina, Discover, Pulsar 150, Pulsar NS 160 or V range of motorcycles. Customers purchasing these bikes before September 1, 2018 would effectively have a reduced outgo of approximately INR 4,800 on a Platina and about INR 8,000 on Pulsar NS 160 on account of insurance cost.

Bajaj Auto – Hat Trick Offer – Official Image

Bajaj Auto has confirmed that the hat-trick offer will not be available from 1st September 2018 onwards.

Customers also gain from the other benefits of the offer which includes two years of free service for the CT100, Platina, Discover, V, Pulsar. In addition, customers of any Bajaj motorcycle in this period get a five-year warranty package at no extra cost. Bajaj Auto dealerships shall remain open till 11 pm on August 30 and 31 to enable customers to avail of the offer.

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