5 Reasons Why Skipping Bike Insurance in India is a Costly Mistake

Owning a two-wheeler has become an integral part of our daily lives. It is essential to protect your vehicle and yourself from any unforeseen circumstances that can be a threat to you or might damage your vehicle.

In India, bike insurance is like a protection for your two-wheeler. Along with being a legal formality it is your shield against unexpected mishaps. However, many bike owners often overlook this critical aspect.

In case of any mishaps without bike insurance, you are in for a financial rollercoaster. That is where bike insurance helps you cover repair costs, medical bills and third-party damages. It not only protects your ride but also safeguards your pocket.

Skipping bike insurance renewal or failing to buy new bike insurance in the first place is a mistake that costs you!

Here Is What Happens When You Do Not Have A Bike Insurance in India

• You Will Have to Pay the Legal Fine and Penalty

  Driving without insurance in India for the first time can result in a ₹2,000 fine or a three-month jail term, as per the Motor Vehicle Act, 2019. If caught again, the penalty increases to ₹4,000 or up to three months in jail.

• You Will Have to Bear Expenses Due to Own Damages

  Accidents are unpredictable and the financial aftermath can be daunting. Without comprehensive bike insurance, you will be solely responsible for covering the repair costs of damages to your vehicle. Whether it is a minor dent or major repairs, the financial burden can escalate quickly, leaving a dent in your savings.

• You Will Have Liabilities Arising from Third-party Damages

  The chaotic nature of Indian roads increases the likelihood of accidents involving third parties. Without insurance, you may find yourself facing legal liabilities for damages caused to others.

  The financial repercussions can be severe, ranging from vehicle repair expenses to medical bills. A comprehensive insurance policy acts as a shield, protecting you from the financial fallout of third-party claims.

• You Will Have to Pay for Treatment of Injury to You/Driver

  In the unfortunate event of an accident, medical expenses can spiral out of control. Without adequate insurance coverage, you will be responsible for the treatment costs for yourself and any passengers. Securing a comprehensive insurance plan ensures that medical expenses are covered, offering you peace of mind and financial security during challenging times.

• You Lose Out on Your No Claim Bonus

  One of the benefits of having bike insurance is the No Claim Bonus (NCB). This bonus is a reward for not making any claims during the policy period. Skipping insurance means missing out on this financial advantage. Accumulating NCB can significantly reduce your premium costs over time, making it a wise financial decision to have continuous coverage.

How to Avoid Getting Penalised on the Road?

• Adhere to Traffic Rules: Strictly follow speed limits, traffic signals and other road regulations.
• Regular Vehicle Maintenance: Ensure proper functioning of lights, brakes and tyres to prevent potential violations.
• Updated Documents: Keep your driving licence and vehicle registration current and easily accessible.
• Stay Informed: Stay updated on road regulations and any recent changes in traffic rules.
• Avoid Distractions: Refrain from using mobile phones or any other distractions while driving.

Buy Liberty General's Bike Insurance Online

At Liberty General Insurance, we provide you with two types of bike insurance online.

• Annual Policy: This bike insurance plan remains effective for one year, requiring an annual premium payment. It encompasses coverage for vehicle damage, personal injury or damage to a third party. Conveniently process the bike insurance renewal online through our website.
• Multi-Year Policy: This distinctive bike insurance online offers an exclusive feature of Liberty General. The primary advantage lies in a single premium payment for coverage spanning up to three years. Opt for this exceptional product if you frequently use your bike.

Features of Liberty General’s Bike Insurance Online

Select a bike insurance online or choose to do the bike insurance renewal online from Liberty General Insurance for your motorcycle. enjoy a range of appealing features, including:

• Bike insurance renewal discounts - facilitating cost-effective insurance coverage
• Roadside assistance - immediate support in case of accidents
• Instant bike insurance online - obtain your bike insurance with just a few clicks
• Zero documentation - simplifying the entire process
• Paperless transactions - experience a gully digital solution and eliminate the need for physical paperwork

Prioritise your financial well-being and the safety of others on the road by investing in a comprehensive bike insurance policy.

Having a bike insurance is a prudent financial decision that ensures you ride with confidence and security.