Are you one of those who tend to forget to renew your vehicle’s insurance policy? You are not alone, as far as not having the mandatory insurance is concerned.
“Almost 75% of two-wheeler users do not have insurance,” said Balachander Sekhar, founder and chief executive officer of RenewBuy.com, a motor-only online insurance broker. India has over 120 million registered two-wheelers.
To reduce non-compliance, insurers have started offering multi-year insurance policies for two-wheelers. “While most consumers want to insure their bikes, they are unaware of where to find an insurance agent or insurance branch office to get this done,” said Sekhar.
