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  • MUMBAI: Buyers of new vehicles will have to shell out more money from Saturday. The insurance regulator has made it mandatory for companies to offer only three-year policies for new cars and five-year policies for new two-wheelers with effect from September 1, 2018. The good news for buyers of small cars (below 1,000cc) and two-wheelers (below 75cc) is that they will be able to lock in long-term policies at cheaper prices and avoid the annual increase in third-party premium that happens every financial year. Insurers were hoping to buy some more time on the grounds that they were not ready with their long-term products and were planning to approach the SC for relief. However, IRDAI has forced their hand by asking them to start selling policies at rates announced by the regulator. https://timesofindia.indiatimes.com/business/india-business/now-shell-out-more-for-long-term-auto-insurance/articleshow/65600671.cms

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