There are more than 48, 276 two wheelers registered in Amritsar under the state motor vehicle department and the number is rising by the day. With the rising number of two wheelers on the road in Amritsar, the number of road accidents are also on a rise. An official statement from the Ministry of Road Transport and Highways, stated that there were 150 incidents of road accidents involving two wheelers in Amritsar in 2016. According to the ministry’s report, Amritsar ranked second in the list of deadliest cities in India, when it came to road accidents. The report informed that the chances of getting killed in a road accident are the highest in Ludhiana in India, with the percentage of chance standing at 67%. It was followed by Amritsar that stood second at over 60%. As many as 120 people were killed in road accidents involving two-wheelers in the city.
The Motor Vehicles Act (MVA), 1988 states that every two wheeler owner must have a basic two wheeler insurance. According to the MVA, a motorist who doesn’t have an insurance, will be liable to pay a fine worth Rs.1500. While a basic two wheeler insurance is the bare minimum requirement for safety and security of riders, a comprehensive two wheeler insurance will provide you a better coverage. A two wheeler insurance will provide coverage in the event of damage caused to the vehicle due to fire, any malicious act, natural disaster, or theft of the vehicle, among others. The MVA also makes it mandatory for the owner of the vehicle to have a basic third party insurance. Apart from the personal accident cover, some insurance companies provide legal liability to the third party in case of injury and property damage caused due to accident.
What is Two Wheeler Insurance?
The definition of two wheeler insurance is simple. Any insurance policy that provides protection against any liability or damage to a two wheeler is called a two wheeler insurance policy. The kinds of two wheelers covered under this policy are scooters and motorbikes.
What a two wheeler insurance does not cover?
A two wheeler insurance does not cover the following:
- Loss of accessories
- Legal liability to the hired driver
- Personal accident cover for pillion riders
- Normal wear and tear
- Damage caused due to negligence of the driver
- Damage caused if the driver was driving under the influence of alcohol or drugs
Top two wheeler insurers in Amritsar
The following are the top two wheeler insurance companies in Amritsar:
- Bajaj Allianz Two Wheeler Insurance
- Bharti AXA Two Wheeler Insurance
- HDFC ERGO Two Wheeler Insurance
- ICICI Lombard Two Wheeler Insurance
- Reliance Two Wheeler Insurance
- TATA AIG Two Wheeler Insurance
How to calculate the premium of your two wheeler insurance?
You can log into the BankBazaar website and fill in your details to find out the amount of your two wheeler insurance premium. You can also check out the details of and buy two wheeler insurance policies at BankBazaar.com.