Price of insurance on the Pulsar NS160 would go up by Rs 8,000 and Rs 4,800 on the Platina
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Bajaj Auto motorcycles will get dearer next month by at least Rs 3,000 as a result of an increase in minimum insurance term hike to five years by insurance regulator IRDAI.
This is in line with Supreme Court decision that the third-party insurance cover for two-wheelers should mandatorily be for a period of five years. As a result price of insurance on the Pulsar NS160, for instance, would go up by Rs 8,000 and Rs 4,800 on the Platina.
On-road prices for new purchases shall go up by at least Rs 3,000 for due to the IRDA notice which makes five-year third-party insurance mandatory as against the current coverage of one year, Bajaj Auto said in a statement.
Bajaj Auto said its dealerships shall remain open till 11 pm on 30 and 31 August to enable customers to avail an offer wherein it is offering one year free insurance on the Platina, Discover, Pulsar 150, Pulsar NS 160 and V range of motorcycles. The company will withdraw the scheme on Friday.First Published on Aug 29, 2018 10:29 pm