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Insurance Article

Skipping on Two Wheeler Insurance Could Cost You!

August 19 2018
Insurance

Don’t save on insurance premium at the cost of all your life savings

India has long taken over China in being the world’s largest two wheeler market. One in every three households in India owns a two wheeler and we can see why. In the urban areas, increased traffic and overcrowded public transport has led to the increased use of two wheelers.

In the lesser developed parts of the country, two wheelers are just as popular, maybe even more, owing to the lack of public transport facilities. The parts of our country that were earlier left out on development projects, have now been seeing large-scale road construction projects, further boosting the use of two wheelers.

Convenient, cost-effective and easy to navigate through heavy traffic, two wheelers are our country’s favourite ride. But it’s not all good. There are also major concerns that arise with the use of two wheelers.

Safety Hazard

Two wheelers are and always have been one of the more risky commuting options. In our country, over 95% of the road accidents involve a two wheeler. While some of these cases can be blamed on adolescents driving rashly, poor road conditions and third-party mistakes, one of the major causes of such an alarmingly high number of bike accidents is completely avoidable.

Absence of Helmet

About 28 two wheeler riders die on a daily basis in India because of the lack of a helmet. A United Nations study found that the survival chance of a two wheeler rider is improved by 42% if they wear a helmet. In spite of the known cause of frequent two wheeler accidents as well as the solution, there has been no change in the devastating statistics.

Sad State of Affairs

The basic safety measure of wearing a helmet is completely ignored by majority of riders in our country but that’s not the only disturbing fact. Only 30% of the two wheelers out on the roads are insured while the remaining 70% are uninsured.

Most people buy an insurance policy only at the time of purchase, as its mandatory for delivery and vehicle registration. But post this, their usual excuse is that they forgot about it, or that bike / two wheeler insurance is an unnecessary expense.

How Lack of Two Wheeler Insurance Affects You

If a two wheeler rider is involved in an accident that causes the death of the third-party or a serious injury, the amount they would be liable to pay could run up to crores. Such an amount is capable of destroying entire families, emotionally and financially. All this for what? Saving up on the minimal insurance premium!

Now there are even new long-term two wheeler insurance policies that are convenient and eliminate annual renewals. While it’s good to have confidence in your driving skills, looking at the sorry state of our country’s infrastructure and the fact that you could be at the receiving end of the accident, getting an insurance policy for your two wheeler is the wise decision.

Related Article:

Which is Better: Comprehensive or Third-party Bike Insurance?
Common Mistakes Made While Buying Two-Wheeler Insurance

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