When you buy your dream two-wheeler in India, it is always advisable to buy a comprehensive two-wheeler insurance policy. Even though it is mandatory, every motorist's responsibility is to protect themselves, their family, and other people's lives, and therefore insurance coverage saves lives. However, even today, many drivers operate their vehicles without an insurance policy, meaning they either do not have one or it has expired. What if an accident occurs after your insurance has expired? The consequences are immense.
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.
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:
|
Two Wheeler Insurance Company |
Third Party Cover |
Cashless Garage |
|
Reliance General Insurance |
Yes |
4,600+ |
|
Liberty Videocon General Insurance |
Yes |
4,300+ |
|
SBI General Insurance |
Yes |
2,600+ |
|
Iffco Tokio General Insurance |
Yes |
4,300+ |
|
ICICI Lombard General Insurance |
Yes |
8,800+ |
|
Bajaj Allianz General Insurance |
Yes |
4,300+ |
|
Shriram General Insurance |
Yes |
2,000+ |
|
New India Assurance |
Yes |
3,000+ |
|
Go Digit General Insurance |
Yes |
1,000+ |
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.
FAQs
What will happen if I fail to buy bike insurance?
According to the Government of India, you need to have two-wheeler insurance to drive on the road. So, if you fail to buy or renew bike insurance, you will be penalized.
Can I renew bike insurance online?
It is possible to renew your bike insurance online by visiting the official website of the insurance company. The process is simple and easy.
How to check the expiry of my two-wheeler insurance?
By visiting the website of the insurance company, you can enter the section that will provide you all the details regarding the bike insurance policy.