A bike is a useful mode of transport. You can get from Point A to Point B quickly and conveniently. It is also very economical to travel by bikes as most two-wheeler vehicles today return excellent mileage as well. The only issue is that, up to 75% of the two-wheelers plying on Indian roads are uninsured! This is a huge cause for alarm. Bike insurance is extremely important and these 5 numbers will tell you why!
- Bike accidents: A ministry of Road Transport and Highways report states that in 2017, over 48,746 two-wheelers died in road accidents and nearly 74% of them rode without a helmet on. This means that every 4 road accident deaths occurring per hour happened purely because of the riders ditching helmets. A comprehensive bike insurance policy with a personal accident cover or third-party cover takes care of treatment in such cases.
- Penalization: The motor Vehicle Act 2019 has reviewed penalty for driving without insurance policy documents. A first-time offender has to pay Rs2000 or serve 3 months in jail, while a second-time offender has to cough up Rs 4000. Not only that, in case of an accident, one would also have to cover the repair of their own vehicle, and also compensate for damage caused to others. In combination, fines and damages could burn a hole in your pocket.
To save yourself from this, all you have to do is get a bike insurance policy. The plan will allow you drive legally on Indian roads, allowing you to forget about fines and other penalization. Not only that, it will reduce the financial impact of an accident significantly by cover repair costs and your legal liability to pay for the damages caused to others.
- Bike theft: Delhi Police in 2018 stated that out of the 44,158 vehicles stolen in Delhi in that year, 32,984 were two-wheelers. Vehicle theft is the least solved crime in the Delhi-NCR region with gangs of auto-lifters operating from every nook and corner. A comprehensive two-wheeler insurance policy can help the victim recover the cost of the stolen vehicle.
- Hospital expenses: A study by Post Graduate Institute of Medical Education and Research (PFGMIER) in 2017 reported that the kin of road accident victims spend Rs 17000 on immediate treatment while the indirect productivity loss of the said victims due to injuries could cost event more! With two-wheelers constituting 25% of the road crash fatalities in India, this expense should serve as a wake-up call for casual riders.
However, in the face of such grim figures, bike insurance offers some solace. The basic third party bike insurance plan will offer up to 15 lakhs compensation under personal accident cover, helping the policyholder or their family better handle the situation in case of grievous injuries arising from an accident.
Driving a vehicle is a big responsibility as the driver is not only accountable to the commuters riding with him/her but also the safety of pedestrians and that of fellow drivers on a congested road. It is thus wise to buy two-wheeler insurance along your two-wheeler to secure your ride forever.