Mumbai has seen an explosion in the number of two-wheelers on its roads, with the city home to around 16 lakh bikes (as of March 2016). This effectively translates into a two-wheeler density of 798 bikes per km of its roads. Given these numbers, it is not surprising that most accidents in the city involve bikes. Mumbai had over 2,500 recorded accidents in 2015, resulting in the loss of 611 lives. Two-wheelers accounted for 146 deaths on Mumbai’s roads.
A good two-wheeler insurance policy can help offset any monetary loss associated with such accidents, with the government making it mandatory to have a vehicle insurance.
Mumbai is an extremely important city for insurers, with a number of them having their headquarters in the city. Some of the popular names include:
*The aforementioned list highlights only the popular options in Mumbai, and does not rank them in any specific order.
Insurance companies which offer motor insurance typically tie up with garages across India to provide cashless services. This not only helps simplify the entire process, but helps one get a damaged bike fixed without having to shell out money from their pocket. Mumbai is home to a number of cashless garages, with it possible to locate one by either of these means.
Cashless garages are designed to offer a range of comforts and benefits to policyholders, with a few of them listed below.
A bike insurance isn’t just a necessity, it is also an investment which can help protect against any unforeseen incident involving the bike. As such, one should keep a few basic points in mind before buying the policy.
The used bike market in India is worth about $10 billion, with over 15 crore bikes on sale. While most of us transfer the bike ownership after selling/buying a used bike, there are instances where the insurance policy is not transferred to the new owner. This could result in cases where the insurer rejects a claim if the vehicle is involved in an accident. To avoid this, one should ensure that the insurance is transferred in the name of the individual purchasing the bike.
Contrary to popular belief, transferring the insurance from one person to another is not complicated, with it possible to do this in a few simple steps.
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