Is Bike Insurance Mandatory in India?

Two Wheeler Insurance
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We sure do love our two wheelers. What’s better than our own set of wheels to navigate in the congested Indian roads? Not only is it affordable for most of us (with a little help from the friendly folks at the bank), but it is also convenient and relatively low maintenance. In terms of sales and production, the Two Wheeler Industry in India is the largest in the world. India’s two-wheeler market has an overall growth rate of 9.5 percent between the years 2006 and 2014. That means that there are a lot of two wheelers on the roads. The risk that is on the road is equally proportionate. Which is why we need insurance to protect ourselves and our precious vehicles on the road.

An insurance policy is an investment worth making. It is also, according to Indian law, a necessity. The Motor Vehicle Act covers a variety of expenses that you may have to bear in the event of a two wheeler accident. It also in the event of a theft, fire, malicious act, natural disasters etc. Further, the legal liability to third party personal injury and property damage which arises out of the accident is also covered in this, as well as personal accident cover.


So what is not included in the basic cover that the law expects? Things like loss of accessories, the legal liability to paid driver, personal accident cover for the pillion riders, normal wear and tear, damage due to negligent driver or driving under the influence of drugs/alcohol will not be covered in the basic insurance policy. It is possible to pay a little extra for a comprehensive cover which will cover many more expenses that you will be likely to face in the duration of your two wheeler’s possession.

How Does A Bike Insurance Protect You?

Your two-wheeler is always exposed to dangers both off the road and on the road. A motorcycle insurance policy can be a major help in incidents that result in financial losses arising out of unexpected events such as accidents, thefts, natural disasters and so on. Likewise, if a loss or damage is caused to a third person or their properties, a two-wheeler insurance policy acts as a shield you from any liabilities emerging out of the same. A third-party insurance cover is the minimum and basic level of insurance that is legally enforced in India. Nonetheless, it is a wise to get a strong motor insurance policy to have a backup plan in any vehicle related mishaps.

What Is Covered In A Two-Wheeler Insurance Policy?

There are a several kinds risks for which your insurance policy covers you. Some of which are explained below:

  1. Harms Or Losses Due To Natural Calamities:

    Disastrous events, for example, tremors, storms, earthquakes, floods and more. They may not or might be anticipated but one can't easily avoid the effects of the same on property and human lives. The best thing to do is to get an insurance policy that covers you against all such incidents.

  2. Coverage Against Man-Made Calamities:

    There can be a chances of man-made malicious acts that may cause damage to your vehicle. For example, robbery, thievery, riots, and different vindictive acts by people are likewise secured under a bike insurance policy. Be that as it may, harms or misfortunes caused because of assault or attack by an outside nation are not covered in a policy. It is smarter to have your bike insured to have a financial backup when any such incident occurs.

  3. Cover For Accidental Injuries

    An accident happens by accident and you have no control over it. Many a times it won't be your fault but you may get into events that may cause bodily injuries. There could be inward wounds, disengagement of joints, fractures and different wounds that can be covered under your bike insurance policy.

  4. Partial Disability Caused Due To An Accident

    There could be mishaps that may result in partial inability, for example, transitory loss of motion, or incapacity of some other part of body. With a two-wheeler insurance policy, you are financially secured against any such misfortune (To the extent of coverage offered in the policy).

  5. Total/Permanent Disability Due To Accident

    Failure to walk or loss of vision are the examples of permanent disability. Your two-wheeler insurance covers the misfortunes and additionally the costs on treatment.

  6. Demise Of Policyholder

    In the event of deadly mishaps that lead to the death of the policyholder or a third person, the insurance policy provides compensation to the nominees in the policy.

  7. How To Buy A Bike Insurance Policy Online?

    Purchasing a two protection today isn't as tough as it used to be. With the computerized ecosystem growing in India, you would now be able to purchase a motor insurance policy online. All you are required to do is slog on to the site of the insurer on the web, fill in all the details and purchase the policy. Additionally, there are numerous third-party sites where you can compare various policies and select the one that best suits your needs.

    If you are not happy with the online buying process, you may buy a policy with the help of agents/ brokers and insurance agents.

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