September 2018 as Insurance Regulatory and Development Authority of India (IRDAI) is making no exceptions on long-term third party insurance policy, which is now mandated following a Supreme Court order.
For two-wheelers, five year-third party insurance costs Rs 1,045 for bikes with engine capacity below 75 cc, Rs 3,285 (75-150 cc), Rs 5,453 (150-350 cc) and Rs 13,034 (exceeding 350 cc).
Motor Vehicles Act (MVA) has listed third-party insurance is mandatory. Comprehensive insurance (theft; damage; etc) needs to be purchased for a period of five years for two-wheelers. General insurance companies have to issue a five-year third party (TP) insurance cover for new two-wheelers as a separate rider or include it as part of the comprehensive insurance policy.
Thus far policies on offer were stand-alone Motor Third Party policy and Motor Package Insurance policy for 2-wheelers and private cars. Below is the list of Honda two wheelers range, their old as well as new prices and the difference in prices. Prices are on-road.
Following implementation since September 1, 2018, vehicle prices are noticeably higher. Honda two-wheelers on road price is up noticeably. Honda Activa 5G (STD) price hike stands at about 4k being currently retailed at about Rs 68,600 from the previous Rs 64,500.
Honda CBR 250R (ABS) is now being sold at Rs 2.30 lakhs, up 8k from Rs 2.22L earlier. Surprisingly, it is the cheapest Honda two wheeler which has received the highest price hike. Priced at Rs 48k earlier, it is now priced 58k.