Is it imprtant to do insurance of a scooter/two wheeler
important as well as essential and beneficial too
It is a mandate by the government. It also serves you well if you get it anyway, when you have good insurance players like Bajaj Allianz, you get 24/7 assistance!
Motor Insurance means insuring the financial risk involved while operating the car. The car might meet with any damages, accident or may be lost or stolen. In such a situation the losses borne by the owner may be compensated by the Insurance Company if the same is covered under Motor Insurance Policy.
Under the provisions of Motor Vehicles Act all the vehicles, which are operating in public places shall have at Car insurance policy at least to cover third party liability as specified under the Act. It means that the Car Insurance must cover the third party in case of any accident. It may or may not cover the damages of the owner of the car!
Basically there are 2 types of Motor Insurance Policy:
1. Two-Wheeler Insurance
2. Four-Wheeler Insurance
It is mandatory to have car/scooter insurance in India.