By Soumava Goswami
Riding a two-wheeler offers an unmatched sense of freedom and ease, especially in bustling city traffic. However, this convenience comes with certain responsibilities, one of the most crucial being having a valid two wheeler insurance policy.
Many riders, unfortunately, overlook this essential requirement, which can lead to hefty fines and legal issues. Understanding why having motorcycle insurance is not just a legal obligation but also a smart financial decision is vital.
In this blog, we’ll explore the implications of riding without insurance, the fines involved, and how to easily buy bike insurance online or renew two-wheeler insurance online.
Is It Illegal To Drive A Two-wheeler Without An Insurance Policy?
Yes, driving a two-wheeler without an insurance policy is illegal. In India, as per the Motor Vehicles Act, every vehicle must have a valid insurance policy to cover third-party liabilities.
This law is designed to ensure that in the event of an accident, victims can be compensated for damages and injuries. Without this coverage, you are not only breaking the law but also exposing yourself to significant financial risks.
Bike insurance serves as a protective shield in case of accidents, theft, or damage to your vehicle. It also helps cover legal liabilities arising from third-party injuries or property damage. Thus, maintaining an active insurance policy is essential for legal compliance and personal financial security.
Fine For Driving Without Insurance
The consequences of driving without insurance are severe. If caught, you could face a hefty fine, which can vary depending on the region and the specifics of the violation.
In addition to financial penalties, you might also encounter legal issues such as the suspension or cancellation of your vehicle’s registration.
In many states, the fine for riding without insurance is substantial, and repeated offenses could lead to increased penalties or legal action.
The cost of fines, combined with potential legal fees and the risk of increased insurance premiums due to a lapse in coverage, makes it far more expensive than simply maintaining a valid two wheeler insurance policy.
How To Buy Or Renew Two-Wheeler Insurance Easily
Ensuring you have a valid bike insurance policy is not only a legal requirement but also a straightforward process.
Here’s a step-by-step guide on how to buy bike insurance online or renew two-wheeler insurance online:
1. Research And Compare Plans
Start by researching various insurance providers and comparing their plans. Many websites offer comparison tools that allow you to review different bike insurance options side by side.
Look for coverage that fits your needs, considering factors such as premium costs, coverage limits, and additional benefits.
2. Choose The Right Coverage
Decide on the type of coverage that suits your requirements. Basic policies typically cover third-party liability, which is mandatory and covers damages caused to others in an accident.
Comprehensive plans, on the other hand, provide broader coverage, including damage to your own bike and personal injuries. Assess your needs and select a plan that offers adequate protection.
3. Fill Out The Application
Once you’ve selected a policy, proceed to fill out the application form. Most insurance providers provide a straightforward online application procedure.
You’ll need to provide details about your bike, such as its make, model, and registration number. This information helps the insurer determine the premium and coverage specifics.
4. Submit Necessary Documents
Submit the required documents to complete your application. These typically include your vehicle’s registration certificate, proof of previous insurance (if applicable), and identification proof.
Some insurers might request additional documents based on their specific requirements. Assure that you give accurate and up-to-date information to avoid any delay in processing your application.
5. Make The Payment
After submitting the application and documents, proceed with the payment. Most insurance providers offer various payment options, including credit/debit cards, net banking, and digital wallets.
Once the payment is processed, you will receive your policy documents via email or postal service. Make sure to keep a copy of these documents for your records and easy access in case of any future needs.
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6. Understand The Benefits Of Add-ons
While buying or renewing your insurance policy, it is suggested that you look for add-ons that are available. These are optional covers that provide extra protection to your vehicle.
You can opt for a zero depreciation cover, which will give you the claim amount without considering the depreciation of your bike’s parts.
Similarly, if you want assistance in case your bike breaks down suddenly, you can opt for a roadside assistance add-on as well. Paying a slightly higher premium for these add-ons gives you more comfort and protection.
7. Look Out For Discounts
Insurers often offer discounts on bike insurance!
For instance, if you have installed an anti-theft device or if you’re a member of a recognized automobile association. You could be eligible for a discount.
Moreover, make sure to also avail of multi-policy discounts by buying your two-wheeler insurance with other insurance policies such as health or car insurance.
8. Use A No Claim Bonus (NCB)
If you have not made any claims in the last year of your insurance plan, you are entitled to what is known as a No Claim Bonus (NCB) when you renew your insurance the next year.
This discount increases every year if you don’t make a claim on your policy, and it can translate into substantial savings!
So, if it’s renewal time for your policy, remember to claim your NCB; it’s there to be the safe rider.
9. Opt For The Right IDV (Insured Declared Value)
The IDV of your bike is a crucial factor that affects NOT only your premium but also the claim amount that you will be able to get in case of theft or total loss.
Hence, be sure to opt for the right IDV when buying or renewing your policy. If it’s too low, you might have to shell out some money from your pocket as partial compensation. If it’s too high, then you will have unnecessarily high premiums.
10. Set Reminders For Renewals
You may forget the exact dates of renewal of your policy especially with a hectic schedule.
However, you can set up a reminder on your phone or calendar to always alert you when the time for renewal comes. You will be able to avoid potential huge fines and the stress that comes with an expired insurance plan.
Sparing a couple of minutes to buy or renew your two-wheeler insurance online simply means that you are not only abiding by the law but also covering your finances.
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The Final Note!
Driving a two-wheeler without a valid insurance policy is not just illegal but also fraught with financial risks. The fines and legal consequences of riding without insurance can far exceed the cost of maintaining a proper bike insurance policy.
By taking advantage of online platforms to buy bike insurance online or renew two-wheeler insurance online, you can ensure that you remain compliant with the law and protect yourself from unforeseen financial burdens.
Investing in a two wheeler insurance policy is not only a legal obligation but also a wise choice for safeguarding your financial future.
Regularly review and update your policy to ensure continuous coverage, and enjoy the freedom of riding with peace of mind. Keeping your insurance up to date is a simple yet crucial step in responsible motorcycle ownership.
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