Understanding the mandatory Rs 15-Lakh accident cover for bike owners: What you need to know


24 Nov 2023

Crucial Insights: Rs 15-Lakh Bike Accident Cover with Kotak

Discover the importance of the mandatory Rs 15-lakh bike accident cover for bike owners from insurers such as Kotak bike insurance. Gain insights on what you need to know about two-wheeler policy, accident compensation, and how it relates to health insurance. Ensure your protection and stay well-informed through this guide.

What is Rs 15-lakh accident cover?

If you own a bike in India, you may have heard about the recent mandatory Rs 15-lakh accident cover. This new regulation has significant implications for bike owners and their financial security in the event of an accident. Know what this cover means, who it benefits, and why it is essential for every bike owner. We will also discuss how it relates to secondary accident compensation, the role of Kotak bike insurance, and its impact on existing two-wheeler policies.

Mandatory insurance for bike owners

The mandatory Rs 15-lakh accident cover is a recent regulatory change in India, making it compulsory for every bike owner to have this cover in place. This regulation aims to provide financial protection and accident compensation for bike owners and their families in the unfortunate event of a road accident.

What does the Rs 15-Lakh accident cover entail?

The Rs 15-lakh accident cover is a form of personal accident insurance specifically designed for bike owners. In the event of an accident resulting in death or permanent disability, this insurance provides a lump sum payout of Rs 15 lakhs to the policyholder or their beneficiaries. This financial support can be crucial in covering medical expenses, rehabilitation, and supporting the family's financial well-being.

Secondary accident compensation

It is important to note that this mandatory insurance serves as secondary accident compensation. In the event of an accident, if the at-fault party is not covered by their own insurance or lacks the financial means to compensate the victim, this mandatory accident cover can step in and provide the necessary financial support.

Kotak bike insurance and the Rs 15-lakh accident cover

Kotak bike insurance, like other insurance providers, now offers policies that include the mandatory Rs 15-lakh accident cover. This means that when you purchase or renew your two-wheeler policy with Kotak, you automatically comply with the regulatory requirement. Kotak bike insurance, along with other comprehensive two-wheeler policies, provides financial protection beyond the mandatory cover, including coverage for damages to your bike, third-party liability, and more.

Impact on existing two-wheeler policies

If you already have an existing two-wheeler insurance policy, the mandatory accident cover is typically added to your policy during renewal. This ensures that all bike owners, regardless of when they purchased their policies, are compliant with the new regulation.


The mandatory Rs 15-lakh bike accident cover is a crucial development in ensuring the financial security of bike owners and their families in the event of accidents. This two-wheeler policy serves as secondary accident compensation, offering essential financial support like health insurance when needed the most. Similarly, Kotak bike insurance and other insurance providers are adapting their policies to include this mandatory cover, making it easier for bike owners to comply with the new regulations.

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Team Kotak GIC

The content of this blog has been created and carefully reviewed by the esteemed team at Kotak General Insurance, with the sole purpose of providing valuable guidance and sharing insights on the importance of general insurance. Our objective is to assist users in making informed decisions when purchasing or renewing insurance policies for their cars, bikes, and health. Our expertly curated information aims to empower our readers with the knowledge they need to protect their valuable assets and financial interests.