AURANGABAD: The number of vehicles registering with the Regional Transport office ( RTO ), Aurangabad shot up 10 times before the new vehicle insurance scheme came into being in September.On any given day, the RTO office registers 10-20 two-wheelers and around 150-200 four wheelers.Assistant regional transport officer Shrikrishna Nakate confirmed that vehicle registration had shot up almost 10 times during August end. “We registered nearly 2,000 two-wheelers and 200 four-wheelers at the month end. The rush was obviously to save money before the new insurance rules came into play,” said Nakate.Terming the registration of vehicles as a record of its sort, RTO authorities said the rush of vehicle owners was even more than on festival like Dussehra and Gudi Padwa which are considered auspicious occasions for buying new items.A section of automobile dealers also reached out to potential customers with an appeal for buying new vehicles before the new insurance scheme rolls out.“I had inquired about buying a two-wheeler with one of the leading automobile dealers. I was flooded with messages, advising me to purchase before August 31 owing to the increase in the overall prices of vehicles,” said Diksha Lohe, a college faculty.Acting on the directives of the Supreme Court, the Insurance Regulatory and Development Authority of India has made it obligatory for buyers to purchase at least three years of third-party insurance for four-wheelers and at least five years of third-party insurance for two-wheelers.The third party insurance is a cover against liabilities if the vehicle meets with an accident that results in injuries or death to a third party. In such incidents, the insurance company pays the claim to the third party. The third-party insurance is the most basic and cheapest of motor insurance and does not cover the damage done to the vehicle owner but makes sure that any third person involved in an accident gets the claim after verification.Surendra Devkar, a sales manager with Automotive Maruti Suzuki Showroom, said the car prices have gone up in the range of Rs 6,000 to Rs 20,000 due to the new insurance rules and the price revision by the company. “Even if there was a certain surge in buying vehicles before August 31, we expect the sales to dip in the future for all automobile manufacturers due to cost escalation,” said Devkar.

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