57% of the vehicles are running on the roads without insurance

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Mumbai : 57 percent of the vehicles in the country are running on the roads without insurance. Between FY 2017-18 to FY 2018-19, there has been an increase of 3% in vehicles driving without motor insurance policy on the roads. Their ratio was 54 per cent of the total trains in 2018-19. This is revealed by the data of the Insurance Information Bureau.

There are three main reasons why people do not renew their motor insurance policy. These include the wavering attitude of the traffic police in the states, non-contact of insurance companies once they have been insured and rising third party insurance prices.

As of March 31, 2019, over 23 crore vehicles were plying on the roads in the country. Of these, the share of uninsured vehicles was about 57 percent. This means that 13.2 crore vehicles were plying on the roads without insurance.

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Explain that third party motor insurance is necessary. In the event of an accident from a vehicle without insurance, the victim does not get enough compensation. The reason for this is that no insurance company can be charged. The vehicle owner also has limited resources to pay damages.

According to the report, in the financial year 2017-18, about 21.1 crore vehicles were plying on the roads. Of these, 54 percent i.e. 11.4 crores were uninsured. In a year, the number of such vehicles has increased by about 2 crores.

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Most vehicles without insurance have two-wheelers. Their share is 75 per cent of the total vehicles plying on the roads. Of these, vehicles without insurance are up to 66 per cent. There are 15 states where the number of vehicles without insurance is more than 60 percent. Southern states are in a better position to comply with the rules and regulations.

According to insurance companies, it is possible for state governments to identify vehicles without insurance. This is because there is a database of such vehicles. However, the problem is with the implementation.

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