New Delhi, Aug. 11 -- The Supreme Court's decision to extend the upfront tenure of mandatory third-party (TP) motor insurance for new vehicles could mean higher costs for vehicle buyers. Mandatory TP cover for new four-wheelers has been extended from three years to four years, and for new two-wheelers from five years to six years. Existing requirements have been in place since 2018.

Authorities have been ordered to work on measures such as a "no insurance, no fuel" pilot project and use technology, including cameras, to fine uninsured vehicles. The move comes amid concerns that about 56% of vehicles on Indian roads lack valid insurance.

The Insurance Regulatory and Development Authority of India (Irdai) is required to make a representat...