The notification proposes the third party premium rates for a broad categories of vehicles. The new rates, once finalised, will come into effect for the financial year 2022-23.
The term roadside assistance is self-explanatory. When linked with bike insurance, it means that the insurance company will offer roadside assistance to the insured bike in exchange for the premium. It is an emergency assistance service provided by the insurer to bike riders whose bikes have faced a breakdown on the road. For example, if you have a Roadside Assistance Add-on in India and your bike stops during the journey due to a technical issue, you can call the insurer and they will arrange for help