Protect Yourself from Hefty Fines Using a Two-Wheeler Insurance Policy

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With the number of road accidents increasing each day, you can easily assume that the concern for road safety among drivers seems to be dropping at a steady rate. Even if you, as an individual, are safe and smart driver, there are many others that can create a problem for you on the road. One rash driver can cause you to clash in the side of the road and then deal with the consequences of somebody else’s mistakes.

Whenever you set out to buy anything, your first instinct might be to find the cheapest option available. However, when it comes to having bike insurance, many people seem to be completely fine with paying large fines for not having a policy. To make sure that the fines do not become an instrument of enabling the habit of not buying two wheeler insurance, the government made changes in its policy.

  • Bike insurance & government policy

According to the Motor Vehicles Act of 1988, it is mandatory for every bike owner to have at least a third party bike insurance. Adding to that, the government passed The Motor Vehicles Amendment Bill in July 2019. With this bill, there are revision in traffic fines for violations. For instance, if you are caught driving without a driver’s licenses, you would have to now pay a penalty of ₹ 5,000. Similarly, if you are caught riding a bike without a helmet, you might have to pay a fine of up to ₹ 1,000. Following the same pattern, there are heavy penalties for not having a bike insurance policy while riding a two-wheeler. Hence, either you can spend money to buy a policy at an affordable rate or pay a much higher fine and risk imprisonment in extreme cases.

Opting for bike insurance will provide you with security in the case of accidents and mishaps. Here are all the reasons why getting bike insurance is the way to avoid fines and have a better riding experience:

  • Protection against liabilities

Bike insurance companies offer third-party policies that can help with financial and legal liabilities of an accident. The government has made the third-party policy mandatory in India and is a basic coverage that needs to be opted for every two wheeler insurance renewal. In the event that you are involved in an accident that results in physical harm to another person or damage to another person’s property, your insurance policy will take care of it. The damages will be compensated, and the third party will receive medical treatment if required.

  • Coverage for repairs

Even if you take preventive measures, you have to accept the fact that life is and will remain unpredictable. If you crash into a wall or someone else’s vehicle, the repairs will cost you a lot. But, if you have an insurance policy, you wouldn’t have to worry about paying those hefty bills. On top of it, if you’ve opted for a comprehensive policy, you can raise an insurance claim against cases like theft or burglary as well. In case damages are caused to your vehicle as a result of natural or man-made calamities, they will also be compensated under your insurance policy. You will only need to check the policy documents to see what all it covers and what’s excluded. This will help you in the future when filing claims. * Standard T&C Apply

Even if you do take preventive measures, you should accept the fact that things might not always go your way. If you crash into some obstacle or another car, repairing it can end up costing you a lot of money. However, if you have insurance, you will not have to worry about covering these expenses at all. Additionally, with the right coverage, you will receive the right amount of compensation in cases such as theft or burglary. In the event that your vehicle has been damaged due to natural or man-made disasters, you will also either receive coverage for repairs or compensation for a loss. All you need to do is check the policy documents to see what it covers and what it does not. This will help you in the future when you file claims. Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms and conditions, please read sales brochure/policy wording carefully before concluding a sale.