If you think that two-wheeler insurance is not necessary, you should think again. Riding a bike on the Indian roads without insurance is similar to a criminal act. There is no doubt that thousands of challans are issued every day when 70% of two-wheelers in India run without insurance.
Here is why you should get your two-wheeler insured:
Saves you from Legal Matters
As mentioned, riding in India without bike insurance is a criminal offense. The Road Transport and Safety Bill levy heavy fines on two-wheelers running without insurance, which also includes imprisonment for the owner and confiscation of the vehicle.
Fulfillment of Social Responsibility
You must use your bike responsibly, as when you drive without insurance you put the lives of others in danger. Running a bike with insurance is one of the duties of being a responsible citizen.
Saves you from recovery and medical expenses
If you meet an accident, severe damage can be caused to the health and vehicle of yours or a third party. When you possess bike insurance, the cost of repairs and medical expenses for you and the third party is borne by the insurance provider. It saves you from paying huge amounts out of your own pocket and reduces the financial risk to your family.
Loss of Significant Benefits
If you have a two-wheeler insurance policy but you do not renew it on time, you can lose out on some important benefits like the No-Claim Bonus (NCB). NCB is given to you when no claim is made during the year. In case of non-renewal of bike insurance on time, you can lose out on such perks and much more.
Easy and Comfortable Cover
Above all, two-wheeler insurance provides you and your bike cover against theft, accident, natural and man-made calamities. In a country where yearly accidents are over 4 Lakh, bike insurance covers unforeseen costs. Today, getting bike insurance online is easier than ever. All you need to do is make a few clicks and you are fully secured.
Now that you know the importance of two-wheeler insurance, it is advisable that you do not avoid buying a bike insurance plan. You can put my life at risk just by not having two-wheeler insurance.