What is Third Party Bike Insurance?
Third Party Bike Insurance is a risk cover against legal liabilities in case of an unfortunate event. Most accidents involve a third party and paying for damages caused by your two wheeler to other people or property can prove to be expensive and stressful. Thus, third party insurance is mandatory for all vehicles plying on Indian roads. A Two Wheeler Insurance also covers you for damages caused to your two-wheeler by uninsured drivers.
Features & Benefits
• No Financial Obligation
The third-party bike insurance covers your financial liability for the damages caused to a person, vehicle, or property by your insured two-wheeler. It can be a huge financial obligation to cover all these costs from your pocket.
• Online Processing
You can buy a third-party bike insurance online with a few documents. The processing is quick and hardly takes any time since it doesn’t cover your insured vehicle.
• Affordable Option
Usually, the two-wheeler third party insurance is the cheapest compared to other insurance covers and add-ons. Thus, you get a higher risk cover by paying a small premium amount.
• Peace of Mind
Usually, the two-wheeler third party insurance is the cheapest compared to other insurance covers and add-ons. Thus, you get a higher risk cover by paying a small premium amount.
What is Covered Under Third-Party Two-Wheeler Insurance?
The following things are covered under a comprehensive third-party two-wheeler insurance:
• Death or injuries to the third party:
In case of an unfortunate event, if anyone is injured or dead after meeting an accident with your insured two-wheeler, third-party two-wheeler insurance can be used. The medical expenses or loss of income due to disability or death can be claimed with this insurance. Even the compensation for loss of income due to physical disabilities can be claimed.
• Third party property damage:
If your two-wheeler damages a third-party property, expenses can be paid using third-party bike insurance. As per IRDA, up to Rs. 1 lakh third-party property damages should be covered under the third-party two-wheeler insurance.
• Death of owner or rider of insured two-wheeler:
In case of an unfortunate event, the owner or the rider of insured two-wheeler dies due to an accident, their dependents will be compensated for the sudden loss of income.
• Permanent total disability of owner or rider of insured two-wheeler:
In case of an unfortunate event, the owner or the rider of insured two-wheeler suffers a permanent total disability due to an accident, they will be compensated for the sudden loss of income.
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