India is a country with the second highest population in the world, and with more and more people traveling, the number of vehicles plying on the roads are increasing day by day.
Now a shocking fact about Indian vehicles has been revealed by General Insurance Council (GIC) which represents India's general insurers. According to the report, nearly 60 percent of vehicles are not insured, most of them are motorcycles and scooters.
In the period of 2015-16, around 19 crore vehicles were registered in India, out of which only 8.26 crore vehicles were insured. This was stated by GIC Secretary General, R Chandrasekaran.
The situation was no different in 2012-13, the total number of vehicles registered including two-wheelers, cars and heavy vehicles stood at 15 crore. But only 6.02 crore vehicles were insured.
This is an alarming fact since Indian roads are dangerous and the accident rates are increasing day by day. In 2015 nearly 5 lakh road accidents were recorded.
Two-wheelers were accounted for 29 percent of the road accidents in 2015, whereas 23 percent of cars and jeeps and 8.3 percent of buses were involved in road crashes. Transport experts stated that there is a need for every vehicle to be insured as vehicles without insurance will cause huge liability to victims.
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