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Why Is It Mandatory to Have Bike Insurance in India?

Updated On Oct 22, 2021

Bikes are the most suitable means of personal transport in India. Almost every citizen of India has a bike. With the increase in the number of bikes on roads, the risk of accidents has also increased. Read this article to know why it is mandatory to have bike insurance in India.

Two-wheelers are unquestionably the most suited mode of personal transportation in India, whether it is a rural area or a congested urban metropolis. This is because two-wheelers make navigating the small roads of rural regions as easy as navigating the crowded streets of a major metropolis like Mumbai, Bangalore, or Delhi. Furthermore, most individuals can readily afford two-wheelers. In fact, even people who cannot afford bikes can now take loans from banks to purchase them.

For those unfamiliar with Indian bike insurance laws, obtaining at least a Third-Party Liability Bike Insurance Policy is required. The Motor Vehicles Act provides the basis for this rule. If you do not follow the law, you will be subject to financial fines. Non-compliance might potentially land you in prison! Worse, an uninsured bike accident might result in serious legal penalties. But why is it necessary to get bike insurance in India? Read on to learn the answer to this question, as well as additional details about the required nature of bike insurance in India.

Why Is It Mandatory to Have Bike Insurance in India?

Why Is It Mandatory to Have Bike Insurance in India?

Almost every vehicle company offers bike insurance when selling a fresh new two-wheeler. Most individuals, on the other hand, either cancel their insurance to receive a discount or do not renew it when it expires. Perhaps folks wish to save money by not renewing their insurance, or they just don't have the time! However, the true reason for their pessimistic attitude regarding bike insurance is that they don't know why they should bother with it in the first place.

To put it in context, there are two primary reasons for getting insurance for your two-wheeler: first, it is a legal requirement for all two-wheelers riding on Indian roads to have third-party liability insurance. Second, insurance protects you, your bike, and any third parties involved in an accident or disaster, as well as saving you money.

While third-party insurance is needed by law, it is strongly advised to get a complete two-wheeler insurance plan. Complete coverage also covers your bike against accidents, thefts, natural catastrophes, and other perils. Aside from that, the complete insurance coverage also covers third-party injuries and property losses. 

Online Two-Wheeler Insurance Policy

The world has transformed as a result of the Internet and cell phones. Almost everything can now be purchased with a few mouse clicks. Two-wheeler insurance is no exception. On the websites of insurance companies, you can insure your bike in under five minutes. Two-wheeler insurance purchased online is simple to comprehend and claim.

Take Away

When Buying a policy, be sure you know what you need. Examine the policy's coverage, cost, and features in-depth. Take a look at the plan's terms and conditions. Choose a Comprehensive plan if you want comprehensive coverage and add required Add-ons that will improve the value of your coverage.

Also Read:

5 Bikes/Scooters expected to launch in 2021 in India

Is Two-Wheeler Insurance Compulsory For Electric Scooters? 

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.

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