PDFprof.comSearch Engine CopyRight

Which insurance is mandatory for two-wheeler in India


Having third-party insurance is anyway compulsory for all vehicles as per the Motor Vehicles Act, 1988. If you have just bought a brand new scooter or bike and decided to go with basic third-party bike insurance, you will necessarily have to buy a 5 year insurance policy.

Is it mandatory to have insurance for bike in India?

Under the Motor Vehicles Act, the Government of India has made it mandatory for every bike owner to have an insurance policy. The bad condition of roads coupled with rash driving increases the chances of accidents. An accident can cause damage to vehicles inflict injuries or sometimes even result in loss of life.

Which type of insurance is mandatory in India?

In India, as per the Motor Vehicles Act, it is mandatory that all vehicles that operate in any public space must have a motor vehicle insurance cover. Policyholders must have at least 'third party liability' motor insurance cover even when opting for the basic insurance plans.

What are the 3 types of bike insurance?

First-party refers to the insured individual, second-party is the insurance provider, and third party is the person towards whom damages are owed by the first-party in an accident.