Why do we need a Two-Wheeler Insurance?

As per the Indian Motor Vehicle Act, 1988, it is mandatory for a two-wheeler plying on the Indian roads to have a valid insurance policy. Two-wheeler insurance plans not only provide coverage against third-party liabilities but also offer comprehensive coverage to its owner/driver. These plans cover Death or Disability of owner/driver and the cost of repair incurred due to damages occurred to the two-wheeler. Some salient features of two-wheeler insurance are stated below for reference:-

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