Why do I need Vehicle Insurance?

It is mandatory

You must get Vehicle Insurance in India. Otherwise, you will have to pay a fine when the traffic police stops you for checking.

Covers medical costs

It pays for any medical costs resulting from an accident for both the rider/ driver and the pillion rider/passenger.

Covers damage to vehicles

It covers damage to vehicle due to various reasons:

  • Damage due to natural disasters like floods and earthquakes;
  • Damage during transporting the vehicle from one place to another;
  • Accident because of a third party, etc

Covers legal costs

  • It covers the legal costs arising from an accident (lawyer fees, fines, compensation),
  • It pays for the damage caused to a person in an accident (even death)

Quick Tip

A third-party two wheeler insurance is compulsory for a period of 5 years, and within that time frame if no claims have been made insurance companies provide a no claim bonus by reducing the premium amount that needs to be paid every year.

Let's learn more about the types of Vehicle Insurance!

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