It was the winter of 2017 and Rahul (name changed) was driving home from office on his regular Gurgaon-Delhi route. He claimed to be riding at a speed of 60-70 km/hour when suddenly a person on a Scooty, with earphones and without a helmet, collided head on with his bike. The injured Scooty rider was rushed to hospital but he succumbed to injuries a week later.
The incident left a deep impact on Rahul, not just psychologically but also financially. Rahul had not renewed the motor insurance of his bike and as a result he was asked to pay up Rs 10 lakh as compensation to the victim’s family, fixed by the Motor Accident Claim Tribunal; Rahul had to avail a personal loan to pay the amount. Since 2017, he has been paying a monthly installment of Rs 21,867 till the loan is repaid. Rahul rues, “I really wished I hadn’t ignored renewing my bike insurance. It was matter of just Rs 1,200 that too to be paid once a year. And here I am now, paying 20 times the amount virtually half of my salary.”