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All motorbike riders in India are required by law to carry liability insurance. The correct two-wheeler insurance ensures legal compliance and provides cash protection during unforeseeable disasters. Even with an effort to save a few hundred rupees, some consumers still need to purchase or renew their policy on a two-wheeler insurance app. It will help if you read this article to learn the results of not having bike insurance. ##
Is Riding a Bike Without Insurance Illegal?
It is against the law in India to ride a motorcycle without adequate third-party liability insurance. To violate the Motor Vehicle Act of 1988 is to risk a fine of up to Rs 2,000 or three months in jail for not having third-party liability coverage on your motorcycle. A fine of Rs 4000 and/or up to three months in jail applies for a repeat offender. *
Here Are Four Things That Can Happen If You Don’t Have Bike Insurance
Police officers in India might pull you over for a vehicle check and request identification, registration, proof of insurance, and other paperwork. However, you will be required to pay a large challan if you do not have valid bike insurance or other vehicle paperwork.
Beyond this, you need to be wary of the other repercussions of not having to buy motorcycle insurance:
Absence of Insurance Coverage
If you don’t have two-wheeler insurance and your bike gets damaged in an accident, you’ll have to pay for your own repairs. Thousands of rupees will be needed to fix your car, and you’ll also be breaking the law. As a result, you should safeguard yourself from financial and legal consequences by purchasing thorough bike insurance coverage. *
Buying an all-inclusive policy from a two-wheeler insurance app protects you from anything that could happen to your vehicle, whether it be a natural disaster or an act of terrorism. Without it, you’ll be responsible for paying for any necessary repairs or destruction. Two things could happen if a third party were killed in an accident involving your car:
Indictable offence (for being a negligent driver)
This offence would entail paying the surviving family member of the passed away party some compensation. It may also jeopardise your financial stability. Because of this, timely auto insurance purchase is crucial.
No Claim Bonus (NCB)
If your motorcycle insurance coverage expires, you will lose any claim concessions you may have earned (NCB). Accrued benefits will be forfeited if your vehicle goes more than 90 days without insurance coverage. Additionally, if you were planning on purchasing a new car with your NCB benefits, you would also forfeit that option. *
That Means It’s Time for a Looksee
Seventy-five per cent of motorcycles and scooters operating in India are uninsured or have expired insurance, as per the IRDAI. It takes a lot of time to reinstate a cancelled policy. It’s possible that you’ll need to complete a new proposal form similar to a car insurance application. The insurance company will also do another check of your car. There’s a chance the insurance provider won’t accept your application for coverage or may demand a higher price because your policy has lapsed. #
Last but not least
Considering the wide range of problems that might arise from not having bike insurance, it’s crucial to sign up for coverage without delay. It’s as easy as clicking a few clicks to acquire these days. Take advantage of modern methods by purchasing a policy for your bike. With many coverage options provided by various insurance companies to buy two-wheeler insurance, check the app and pick the one that best fits your situation and finances. Maintain your financial security and ride safely.
* Standard T&C Apply
# Visit the official website of IRDAI for further details.
## All savings are provided by the insurer as per the IRDAI-approved insurance plan. Standard T&C apply
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.