Consequences of Not Buying Two-wheeler Insurance in India

In India, motorcycles and scooters are more than just a mode of transport. They’re an essential part of our daily lives. Whether it’s for commuting through heavy traffic, running errands, or enjoying a weekend ride, two-wheelers play a role in helping us get around. However, the roads here can be unpredictable and accidents are a reality we can’t avoid. This is where two-wheeler insurance comes into play.

You might have probably heard that motor insurance protects you, your bike, and even other road users in case of an accident. Some riders think it’s an unnecessary expense or that nothing will happen to them. The sad reality is that not having two-wheeler insurance in India can lead to serious consequences, both legally and financially. Let us help you understand why you must have insurance for your two-wheeler and what happens if you don’t.

To reduce the chances of getting stuck in a misfortune situation, you must buy two-wheeler insurance online. Continue reading to discover the effects and drawbacks of not buying or having a lapsed two-wheeler/bike insurance policy.

What Happens If You Don't Have Two-wheeler Insurance?

You could lose several benefits if you don't have bike insurance or if you don't renew your two-wheeler insurance. If you don't have bike insurance or your two-wheeler insurance policy has expired or lapsed, you may experience the following consequences:

• Imprisonment: According to Indian law, every vehicle that travels on Indian roads must have a bike insurance policy to drive. If you break this rule and are discovered to be without or have expired insurance, you may be subject to a fine or even go to jail, depending on the situation.
• Loss of no-claim Bonus: A no-claim bonus, or discount on the premium, is given by an insurance company when you insure your two-wheeler with them and make no claims. If you want to change two-wheeler insurers, NCB can also be transferred.
• Financial Loss: If you are involved in an accident, your insurance policy may cover the damages. However, if you are not covered, you will have a financial burden that can really drain you. Not to mention that you would be driving illegally.
• Legal Liabilities: If you operate a two-wheeler without insurance and are involved in an accident, you may face legal and financial difficulties. You must cover all costs associated with the damages.
• Delayed Process: Renewal of bike insurance policy can take time. It is advisable to renew two-wheeler insurance before expiring so that you avoid a situation where you have to waste time. The good part is that you can renew two-wheeler insurance online as well. The process is easy and hassle-free.

What Happens If You Don't Have Two-wheeler Insurance?:

How to Choose the Right Bike Insurance Policy?

Let's break it down step by step, in simple terms.

1. Understand the Types of Insurance
   • Third-party bike insurance that is mandatory by law and covers damages or injuries caused to third parties (other people, their vehicles, or property) in case of an accident
   • Comprehensive bike insurance that includes third-party liability and also covers damages to your bike
   • Standalone Own-Damage policy to get coverage for damages to your bike with an existing third-party policy
2. Look for Adequate Coverage
   • What kind of coverage do I need for my bike?
   • Are there any additional add-ons I might need?
3. Check the Premium and Deductibles
4. Consider the Insurer’s Reputation and Customer Service
   • Claim Settlement Ratio that shows how many claims the insurer has successfully settled compared to the number of claims they’ve received
   • Network of garages near you for cashless claims

Also Read:

Best Two-Wheeler Insurance Plans in India

The process of buying bike insurance online is quite simple. Not only can you buy the insurance policy online, but you can also renew it. Let us first take a look at the best comprehensive bike insurance plans in India:

Bottom Line

The importance of buying bike insurance online is not just limited to the benefits of coverage but to the fact that you will break the law if not insured. It is important to stay covered as you never know when you might be in need of it. To purchase the best bike insurance plans in India, log on to official website of the company. Buying online bike insurance is easy, simple and completely hassle-free.