Bike Pillar

Bike Insurance

Whether you are riding off into the sunset, speeding along a highway in rain showers or simply stepping off a bike and taking off your shades, bikes have an unfailing charm. Movies often feature bikes at the centre of songs – from the carefree Rajesh Khanna singing “Zindagi Ek Safar” to two friends celebrating friendship in the iconic film Sholay, and of course, heist artists in the Dhoom Series who used motorbikes as getaway vehicles. If you’re the proud owner of one, you’d realize how important it is to keep the machine maintained and safe from accidents.

Brief History

The earliest known motorbike design can be traced to Germany in the year 1885. They really took off during the first and second world wars, when they were used by armies to dispatch messages. They thus replaced horses which were earlier used for the purpose. Motor bikes benefited from the western world’s transition from agricultural to industrial economies during this period. Today, apart from Japan, motorbike usage has shifted from developed economies to emerging ones – India, China, South East Asia, and various African countries.

Where Do We Stand Today?

The first ever motorbike to hit Indian roads was a 350 cc powered Bullet; courtesy the Royal Enfield (UK) company during the British times. The tough model was originally an army vehicle, helping troops to access rugged terrain without paved roads. The motorcycle industry boomed in the post-Independence era, and it became the go-to vehicle for people who could not afford a car and were forced to rely on bullock carts, bicycles, tangas and the railways for covering longer distances. In current times, mobility is no longer at the mercy of unreliable modes. The Indian Government too has encouraged production and assembly of motorbikes within the country, leading to a flourishing native industry. It also helped to indigenously develop fuel efficiency and improved technologies. From such humble beginnings, today India exports bikes all over the world.
India is the world’s largest market for two-wheelers – motorbikes and scooters. In the year 2017-18, nearly twenty million units were sold to consumers. Some of the largest brands in the market are Bajaj Motorcycles, Hero Motorcorp, TVS, Mahindra, Royal Enfield, Suzuki, Honda, and Triumph.

    • Two wheelers enjoy mass appeal because of their lower fuel consumption as compared to cars. Oil price fluctuations thus affect the budgets of motorbike owners less than car owners. To an extent, this makes them environment-friendly as well.
    • Fuel for motorbikes gives more mileage per liter than any other vehicle. It is a value for money option.
    • Motorbikes can be squeezed in anywhere, and so parking space is less of an issue.
    • Development of roads connecting remote rural areas to the rest of India.
    • Public transportation systems which are severely insufficient.
    • Rising disposable incomes in the hands of the public and booming upwardly mobile middle classes.
    • Women too have contributed to the increase in two-wheelers on the roads. Scooters give them an easy commute option.
    • It is easier to get a loan for a two-wheeler than a car.
    • Two wheelers make it a breeze to circumvent traffic jams.
    • Taxes on two-wheelers have been reduced in recent times.

But the main reason is that India is the world’s fastest growing economy. We are all in a hurry to reach places and get things done. Nearly every Indian household today uses at least one motorbike. Indian manufacturers are tinkling with CNG and electric powered motorbike technology. The future for motorbikes is very bright indeed.

Motorbike Safety

Bike Pillar

Motorbikes definitely offer a lot of fun and freedom for the rider. However, it cannot be denied that it is also more likely to be involved in an accident if you are on a motorbike than any other vehicle. India has one of the highest road accident rates in the world. It is telling that nearly forty percent of those killed or injured in such accidents are motorbike riders. You are also more at a risk of Traumatic Brain Injury (TBI) which can cause a mild concussion, coma and in extreme cases even paralysis. More than 75% of motorbike accidents result in TBI, recovery from which is nearly impossible.

    • A motorbike’s size makes it less visible to bigger vehicles that are making turns. It is usually always the car driver who doesn’t see the motorbike coming, leading to a head-on collision between the two.
    • Motorbike riders are more likely to try to maneuver through small spaces in a traffic jam. Again, this might surprise the car drivers.
    • Motorbike riders are more likely to exceed speed limits.
    • Motorbikes are more likely to collide with fixed objects. Because they are so lightweight, potholes, wet roads due to rain or snow, dead animals and other obstacles on the road may push them off course.

You love your motorbike and can’t give it up. So, what can you do to ensure the safety of both body and machine? Get a comprehensive motorbike insurance to secure your vehicle against damages.

Bike Pillar

What is motorbike insurance?

In India, two-wheeler insurance means an insurance policy that protects all sorts of two-wheeler vehicles on the roads – motorcycle, scooty, and moped. The two-wheeler may be used for personal or commercial purposes or both. It is the best way to protect yourself and your motorbike against all sorts of damages – theft, accidents, natural disasters, and bodily injuries while riding a motorbike.

Is motorbike insurance mandatory?

The Indian Motor Vehicles Act has made it mandatory for all vehicles plying on the roads in India to be covered by third-party insurers. A two-wheeler policy, in particular, is a hedge against losses due to accident, theft, wear and tear of the vehicle and injury to the riders.

    • The high rate of accidents on Indian roads – Traffic regulations are poorly implemented in the country and there is immense congestion on roads during rush hours. Aggravating the problem is the fact that the number of vehicles on the road are increasing exponentially and pedestrians don’t follow rules for crossing the road. Also, India is severely lacking in good all-weather roads. Most roads are poorly maintained and turn into a mess as soon as the monsoon arrives with potholes and slippery surfaces being a common sight. Add to it problems like improper parking on the road and encroachment by vendors, reduces space for vehicles to pass and contributing to the general chaos.

    • Two-wheeler users – The highest number of motorbike users are comprised of the middle and lower middle classes of society. Many of them depend on this mode of transport for their livelihoods. As such, any damage to vehicle or rider, no matter how minor, will impose a heavy financial burden on them, upending their savings. A comprehensive two-wheeler insurance policy can save them from financial ruin.

    • Man-made damages – It is not only during the ride that damages may occur. Frequently, unexpected events such as riots, theft, strikes, terrorist attacks, malicious activities and damage during transport damages the vehicle.

    • Natural causes for damage –Every two-wheeler insurance policy covers a comprehensive list of reasons against which they cover the insured. These include explosion, earthquake, cyclone, floods, landslide, hailstorm, fire and hurricanes among others.

    • The rising number of vehicles on the road – Economic development and a skyrocketing population growth have resulted in millions of new vehicles on the roads every year, while the number of roads remains constant. This has naturally increased the probability of road accidents as well.

    • Technological changes– Indian automobile manufacturers are in a race against time to build the two-wheelers of the future with better engine performance, rider ease, and the machine design. Strict enforcement of environmental laws has resulted in increased research into environmentally friendly models. Consumers too demand the best and latest technology. This means that the cost of spare parts has increased alongside. A small bit of damage can cause thousands of rupees to be spent. A comprehensive motorbike insurance policy covers repairs costs as well.

    • Bodily injuries to riders and their passengers (if any) –A comprehensive motorbike insurance policy covers the medical costs arising from accidents sustained during a ride by both rider and passengers. The amount you will be awarded depends on the severity of the inssesm abii8iment of envirdsng a common sight. Add to it problems like improper parking o