Consequences of Not Buying a Two-wheeler Insurance Policy

In India, two-wheeler insurance is mandatory for all two-wheeler owners. Besides legal compliance, the right two-wheeler insurance offers financial backup in case of unpredicted mishaps. However, some people forget to buy or renew two-wheeler insurance to save a few hundred rupees. Read on to know the consequences of not buying a bike insurance policy.

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Is Riding a Bike Without a Bike Insurance Policy Illegal?

Yes, riding your bike without an insurance policy is illegal in India. As per the Motor Vehicle Act of 1988, riding your two-wheeler without third-party liability cover is a legal offence.

Riding a Bike Without Insurance? Get Ready to Pay Fine

In India, the fine for not having a bike insurance policy is ₹ 2,000 or imprisonment of up to three months. If it is a 2nd-time offence, you are liable to pay a fine of ₹ 4,000 and/or imprisonment of up to three months.

You may also read: Bike Accidents in India and Insurance Claims

5 Consequences of Riding Your Bike without Bike Insurance Policy

In India, the traffic cop can stop you for an inspection and ask you to present the vehicle documents such as DL, RC, PUC certificate, and bike insurance papers. However, if you do not have active bike insurance or other vehicle documents, you have to pay a hefty challan.

Apart from this, you must be cautious with other consequences of not holding an active bike insurance policy:

  1. No Financial Coverage

    Not having two-wheeler insurance means your vehicle is uninsured, and you are liable to pay for the damages caused to your own vehicle in case of an unforeseen incident. You will end up paying thousands of rupees to repair your damaged vehicle, and no need to mention that you are on the wrong side of the law. Therefore, it is imperative to insure your vehicle with a comprehensive bike insurance policy and get protection against all financial & legal liabilities.

  2. Borne Legal Liabilities

    The comprehensive two-wheeler insurance secures you against all perils, including man-made and natural calamities. In its absence, you have to bear the cost of repair/damages ultimately. In case your vehicle met with an accident, resulting in the death of the third party, you will have to face the two situations-

    • A criminal case (for being a negligent driver)
    • Compensate the family member of the deceased party

    This situation can wreck your financial state. Therefore, getting the right insurance coverage for your vehicle on time is essential.

  3. Loss of NCB Benefit

    A lapsed two-wheeler insurance policy means you lose the benefits that may have accumulated in the form of a claim bonus (NCB). You shall lose accrued benefits if your vehicle remains uninsured for over 90 days. Also, in the process, you lose out on the opportunity of NCB benefits to the new vehicle if you plan to buy the one.

  4. Time for an Inspection

    According to IRDA, either 75% of two-wheelers plying on Indian roads have no insurance, or their insurance has lapsed. Reinstating a lapsed policy is time-consuming. You may need to fill out the fresh proposal form, like insuring your vehicle. Also, the insurer will again inspect your vehicle. The insurance company may charge a higher premium to renew a lapsed policy or reject the proposal.

  5. Pay Insurance Fine for Bike

    If you are caught riding your two-wheeler without holding an active bike insurance policy, you will be instructed to pull over to the roadside by the traffic police. The officer may request you to show your DL, RC, and bike insurance policy. You have to present all these documents to avoid challan. However, if you cannot provide these documents, the officer can issue you a challan immediately. At last, you will have to pay a fine for riding your bike without insurance.

Final Call!

Given the multiple losses and complications of not having valid bike insurance, it is imperative to get it on time. Nowadays, you can buy it with the click of a few buttons. Harness the power of technology and purchase a bike insurance policy from Policybazaar.com. Here, you will get the multiple plans offered by different insurers. You can choose the one as per your need and budget. Ride safe and stay insured!

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Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.

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^The renewal of insurance policy is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. Actual time for a transaction may vary subject to additional data requirements and operational processes.

^The buying of Insurance policy is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. Actual time for transaction may vary subject to additional data requirements and operational processes.

#Savings are based on the comparison between highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB.

*TP price for less than 75 CC two-wheelers. All savings are provided by insurers as per IRDAI-approved insurance plan. Standard T&C apply.

*Rs 538/- per annum is the price for third party motor insurance for two wheelers of not more than 75cc (non-commercial and non-electric)

#Savings are based on the comparison between the highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB.

*₹ 1.5 is the Comprehensive premium for a 2015 TVS XL Super 70cc, MH02(Mumbai) RTO with an IDV of ₹5,895 and NCB at 50%.

*Rs 457/- per annum (1.3/day) is the price for the third-party motor insurance for private electric two-wheelers of not more than 3KW (non-commercial). Premium is payable on an annual basis