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Bike Insurance 1210 views March 19, 2019
Two-wheeler vehicles are a common sight in the Indian landscape. Almost every household in India has a two-wheeler vehicle parked as it affords ease and convenience while driving through today’s congested traffic in addition to their affordability and relative inexpensiveness when compared to the car or other four-wheeled vehicles.
As road accidents became more pervasive resulting in more deaths and rising cases of permanent disabilities, the Motor Vehicle Act 1988 mandated the need to ensure every two-wheeler vehicle, thus, prompting the purchase of 2 wheeler insurance policies from insurers operating in the market. This means that riding a two-wheeler vehicle without it being insured can invite penalty or result in imprisonment too. Not many Indians are aware of the concept of insurance including 2 wheeler vehicle insurance and, hence, it is important to realize certain necessary facts about the same before choosing from various given options and paying for it accordingly.
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The 2 wheeler insurance rules are similar across most insurers. One just needs to look at the rates charged by them and the benefits they offer corresponding to the charges. Insurance is not a novel concept. In fact, it has been in place for many years. However, in most cases, it also lacks an understanding of the concept and disinterest to comprehend the terms that result in people buying the wrong kind of policy.