Road Safety Concerns in India
India has the highest number of road accidents globally, largely due to reckless driving, non-compliance with traffic rules, and human errors.
In 2022, nearly 75,000 two-wheeler fatalities occurred, accounting for 44% of all road accident deaths in the country.
The rising number of vehicles, especially two-wheelers, due to increasing income levels, is worsening the problem.
Uninsured Vehicles and Risks
Over 60% of vehicles in India, especially two-wheelers, are uninsured.
Many vehicle owners avoid insurance to save money or fail to renew policies due to lack of awareness.
Driving without insurance poses serious financial risks in case of accidents, with the potential to face fines or jail time.
Types of Bike Insurance
Third-party Insurance: Mandatory and covers liability for damages to others' property or injuries, but doesn’t cover damage to your own bike or theft.
Own Damage (OD) Insurance: Covers damage to your bike due to theft, fire, natural disasters, or accidents. Can be combined with third-party insurance for enhanced protection.
Comprehensive Insurance: Combines both third-party and OD insurance for full protection, offering peace of mind in case of accidents, theft, or natural calamities.
Importance of Insurance
Having adequate bike insurance is crucial, not just legally, but also to protect yourself financially.
Today, buying or renewing bike insurance is easy and quick, ensuring safety on the road and securing your investment in your bike.
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