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Two-wheeler insurance is a type of insurance that is mandatory in India. Falling under the General insurance product category, it helps protect people against accidents that take place on the road. Active two wheeler insurance shields the vehicle owner from any unforeseen occurrences like the accident or any serious damage to the motor vehicle.
In the quarter ending March 2024, Reliance General Insurance reported a net profit of ₹58.31 crore and revenue of ₹1,741.55 crore, with year-on-year growth of 1.13% and 16.21%, respectively. [18] In the fiscal year 2023, Reliance General Insurance reported a turnover of ₹103,390 crore, marking a 9.88% increase from the previous year. [19]
While the long-term insurance policy is 3 years for four-wheelers, it is 5 years for two-wheelers. The following guidelines are issued to implement the Supreme Court guidelines via a circular issued to insurers under Section 14(2) of the Insurance Regulatory and Development Agency of India Act, 1999, effective September 1, 2018. [7]
Criteria for license suspension vary by state law, but in many states, your license may be suspended for driving a vehicle registered in your name without meeting the state’s minimum insurance ...
The average cost of car insurance in the U.S. is $2,329 per year for full coverage and $633 per year for minimum coverage, but without a license, your insurance could be more expensive.
Application for a provisional driving licence can be made from the age of 16. Provisional licences allow the holder to drive a moped or gearless motorcycle from age 16, [2] or a motorcycle/scooter with manual transmission, three wheeler, car, or any motor vehicle with a maximum of four wheels and less than 7500 kilograms, from age 18. [3]
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