Nearly 60% of vehicles on Indian roads lack insurance: GIC
24 January 2017
Nearly 60 per cent of the vehicles plying on Indian roads are uninsured, most of them motorcycles and scooters, according to data compiled by the General Insurance Council (GIC), which represents the country's general insurers.
In 2015-16, India had around 19 crore registered vehicles; of these, only 8.26 crore were insured, said GIC secretary-general R Chandrasekaran on Monday.
The situation was similar in 2012-13, when the total number of vehicles, including two-wheelers, cars and heavy vehicles, registered in the country stood at 15 crore, of which only 6.02 crore were insured.
The figures are troubling since India's roads are notorious for their high accident rate, with 2015 alone recording over 5 lakh road crashes.
Two-wheelers were involved in 29 per cent of the accidents in 2015, cars and jeeps in 23 per cent, and buses in 8.3 per cent.
Transport experts point out the need for every vehicle to be insured as those without insurance cause "huge liability to mishap victims".