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What is lesser: Paying the fine or paying the premium? Find out!


There has been a lot of buzz around the new Motor Vehicle Amendment Act 2019. Starting September 1st 2019, the fines have been increased, ensuring that the people do not violate the rules and stay safe. This new amendment has come into play to check the accident rates and make sure of road safety.

It is mandatory to have a two wheeler insurance to ride the vehicle on road. If you do not have insurance, you are liable to pay a fine of Rs. 2000 and/or face imprisonment for up to 3 months. For the second offence, the fine will increase to Rs. 4000 and/or 3 months imprisonment. It is hence better to go for an insurance rather than pay the penalties. The subsequent fines have resulted in renewal and buying of insurance policies.

The process of renewing an old policy is very easy and quick. It is completely digitized and you can get this done from your smart phone itself. It is always better to update or buy the insurance rather than pay the fine.

For Ravi Mathur staying in Mumbai, he thanked his stars that he renewed his two wheeler insurance just one day before 1st September. The traffic police caught him and he had all the papers with him and the renewed two wheeler insurance too. Had he not got it renewed for a minimum amount, he would have paid the fine of Rs. 2000 and/ or faced 3 months imprisonment.

When it comes to road accidents, two wheelers are the most prone to it. It is important to buy a holistic insurance policy which protects you from accidents and other dangers such as natural or man-made calamities. Along with this, your vehicle is protected against theft and third party liability. Hence investing in a comprehensive insurance policy is totally worth it.

How to buy the right insurance plan

You might have done a lot of research before buying your two wheeler. The same goes for the insurance policy too. You need to be careful to avoid any complications in the future. Buy a policy which is transparent in nature such as Bajaj Allianz’s policies. They do not have any hidden costs and you can calculate it with a few taps of a button and buy it from there too.

Comprehensive two-wheeler insurance offers two kinds of covers:

  • Cover against damage to the vehicle or the rider due to unforeseen events
  • Cover against financial liability arising out of injuries caused to third parties in an accident

Choosing your Add-ons

Your two wheeler insurance policy can be enhanced with the help of add-ons. The benefit of add-ons such as depreciation shield or 24*7 Spot Assistance can prove to be invaluable in case of an accident or mishap.

With the Bajaj Allianz’s comprehensive two wheeler policy, we are committed to make sure that assistance and protection are offered to our policy holders who choose to secure their vehicles with our insurance. Buying and renewing of policies can happen with the tap of a button and you can avail 24*7 assistance from our friendly executives too.

 

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Published on:13 Sep, 2019

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