Kathmandu. In Nepal, an average of 7 people die every day while walking on the road or while traveling, and on an average more than 80 people are injured every day. Behind every news of a road accident is a poignant story of a family without income, a child without parents, and a family mired in financial uncertainty. Road accidents are more frequent killers than floods and landslides in the country. <\/p>\n
According to the Kathmandu Traffic Police Office, 117 people died in the Kathmandu Valley alone from mid-July 2023 to March 13, 2024. Across the country, the numbers are devastating six years in 2023. A total of 1,303 people died in the first seven months of 2014. Of them, 3,643 people were seriously injured and 15,007 sustained minor injuries. <\/p>\n
The picture of the last 5 years is even more worrisome. 2019. 20 and 2023. A total of 12,542 people have died and 29,729 have been seriously injured in road accidents in Nepal. According to the Nepal Disaster Report-2024, 15,169 people lost their lives in 120,626 road accidents from 2018 to 2024. In Kathmandu alone, 58,375 incidents and 1,126 people lost their lives in the same period. <\/p>\n
Motorcycles at the center of the crisis{<\/strong><\/span><\/p>\n }<\/p>\n The data shows a striking consistency in the type of vehicle. Two-wheelers, motorcycles and scooters are more than all other types of vehicles in the country. A total of 95,978 road accidents involving two-wheelers were recorded across the country from 2018 to 2024. Of these, 45,448 were related to jeeps and cars. Of the 23,597 road accidents registered last year, 19,511 were motorcycle accidents. This is the highest of all vehicle types. <\/p>\n Motorcycles account for about 79 percent of registered vehicles and are involved in two-thirds of fatal accidents. More than 70 percent of these accidents are caused by motorcycles, and the search for the cause indicates that over-speeding and rash riding was the cause of the accident. <\/p>\n Human factors are a major factor in accidents. More than 70 percent of the cases are due to driver error. It has been linked to poor adherence to basic safety standards such as speeding, reckless driving, accidents while concentrating on mobile phones, fatigue, helmet use, lane discipline and vehicle in the hands of children. <\/p>\n Economic Damages Caused by Accident<\/strong><\/span><\/p>\n }<\/p>\n When a victim dies or is seriously injured, the financial consequences for his or her family can be devastating. The answer to this is the mandatory third party motor insurance in Nepal’s vehicle law. The Motor Vehicles and Transport Management Act, 2049 BS has made third party liability insurance mandatory for all motor vehicles. It requires insurance to cover third-party property damage and third-party injury or death. It also involves risks to the driver, passengers, and other employees such as assistants or security personnel. <\/p>\n Limit of indemnity on third party insurance<\/strong><\/span><\/p>\n }<\/p>\n }<\/p>\n<\/ul>\n The insurance company has to pay the death claim amount within 21 days of receiving the information about the accident. <\/p>\n According to the Insurance Authority of Nepal, motor insurance has contributed more than 30 percent of the total non-life insurance income in Nepal. In the last fiscal year alone, out of the 30 lakh policies issued by non-life insurance companies, more than 16 lakh were of motor insurance. <\/p>\n Isn’t enough third party insurance? <\/strong><\/span><\/p>\n Third-party insurance provides a legally mandated minimum cover. However, the compensation amount is too small to cover the actual financial loss suffered by the family when the working adult dies or becomes permanently disabled. <\/p>\n The tragedy that begins under the cover of a road accident often ends up as a livelihood crisis for the affected families. While the compensation of Rs 10 lakh is important, it does not replace years of lost income for a family where there are many dependents behind the same job.<\/p>\n","protected":false},"excerpt":{"rendered":" Kathmandu. In Nepal, an average of 7 people die every day while walking on the road or while traveling, and on an average more than 80 people are injured every day. Behind every news of a road accident is a poignant story of a family without income, a child without parents, and a family mired […]<\/p>\n","protected":false},"author":5,"featured_media":76519,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[45031,45067,45159,45096],"tags":[],"class_list":["post-293396","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banner-news-en","category-important-en","category-news-en","category-non-lifeinsurance-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/293396","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/comments?post=293396"}],"version-history":[{"count":1,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/293396\/revisions"}],"predecessor-version":[{"id":293397,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/293396\/revisions\/293397"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/media\/76519"}],"wp:attachment":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/media?parent=293396"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/categories?post=293396"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/tags?post=293396"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n