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Bajaj Allianz Third Party Bike Insurance
Bajaj Allianz third-party bike insurance policy is meant to cover you against the loss or damage caused to the third party in a road accident. This a mandatory policy which compensates for bodily harm, injuries, death or damage to the third party.
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Bajaj Allianz Third-party Bike Insurance: An Overview
Riding a motorcycle without a third-party bike insurance policy is a punishable offence as per the Motor laws in India, and the owner of a bike will have to pay a hefty fine to the traffic authorities. Bajaj Allianz third-party insurance is one of the most popular bike insurance. It covers third-party liabilities arising from damage, injury, or death to a third party from an accident and is affordable.
In the event of personal damages to a third party, which leads to hospitalization, the medical expenses are covered. In an unfortunate death, compensation is paid up to a particular limit.
Bajaj Allianz Third-party Bike Insurance Vs Comprehensive Bike Insurance
| Bajaj Allianz Third-party Bike Insurance | Bajaj Allianz Comprehensive Bike Insurance | |
| Meaning | Third-party bike insurance is mandatory in India as per the Motor Vehicles Act, 1988 and covers the damages caused to third parties by a two-wheeler. | A comprehensive bike insurance policy covers third-party liabilities and own damage. Thus, it offers complete coverage to the insured bike in case of unfortunate events. |
| Coverage Details | Bajaj Allianz third-party bike insurance secures your two-wheeler owner only against loss and damage towards the third party. It is a limited coverage policy. | Bajaj Allianz comprehensive bike insurance will cover the loss against theft, fire, natural calamities, man-made disasters, etc. The policy provides monetary support against any damage caused to the two-wheeler and any affected individual(s), vehicle or property. It is an extensive coverage policy. |
| Add-ons | Typically, Bajaj third-party bike policy provides only Personal Accident (PA) Cover. | With this policy, you may opt for beneficial add-ons, such as a Roadside Assistance (RSA) cover, Zero-depreciation cover, Return to Invoice(RTI) cover, and Consumables cover. |
| Bike Insurance Premium | Third-party bike insurance policy is pocket-friendly. Based on engine displacement, IRDA determines the premium of third-party liability insurance each year. | The premium of a comprehensive insurance policy is costlier than a third-party insurance policy as it offers extensive coverage. |
| Exclusions | Injury caused to self due to accident Damage or loss caused to the policyholder's own two-wheeler. Damage or loss caused if riding:
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Loss or damage as a result of:
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| Recommendation | It is recommended if the two-wheeler is old or is not frequently ridden. | It is recommended if one needs broad coverage for the two-wheeler and add-ons. |
Explore Bajaj Allianz Bike Insurance
What is Covered under Bajaj Allianz Third-party Bike Insurance?
The Bajaj Allianz third-party bike policy covers the following instances:
- Bodily injuries or death of the third party during a road accident involving the insured two-wheeler.
- Any third-party property damage.
- All expenses or costs incurred to the third party per the insurance company's consent or written on policy documents.
- Personal Accident (PA) cover for the policyholder or the two-wheeler driver. This mandatory add-on cover becomes active in the following circumstances:
- Accidental death of the policyholder/owner
- Loss of limbs or sight of the owner/policyholder of the two-wheeler
- Permanent or total disability of the policyholder/owner in a road accident.
What is Not Covered under Bajaj Allianz Third-party Bike Insurance?
Since a third party bike insurance is mandatory in India, the two-wheeler owner must carry it. However, it comes with specific exclusions, which are discussed below:
- Any loss or damage caused to the policyholder's two-wheeler in an accident.
- Any damages or loss due to regular wear & tear, natural calamities, man-made disasters, theft, fire, etc.
- Any specific exclusions mentioned in the Bajaj Allianz third-party bike insurance policy.
You may also read Bajaj Allianz Bike Insurance Policy
Bajaj Allianz Third-party Bike Insurance FAQs
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Q. How do you buy Bajaj Allianz third-party bike insurance online?
Ans: You can buy a Bajaj Allianz Third Party Bike Insurance policy online by visiting the insurer's website. However, at Policybazaar.com, you can compare multiple plans offered by India's best bike insurance companies and find one as per your needs & budget. -
Q. What are the optional extensions in the Bajaj Allianz third-party bike insurance policy?
Ans: One may opt for the following extensions as part of Bajaj Allianz third-party bike insurance policy:- Personal Accident Cover for the Occupants
- Loss of bike accessories
- Legal liability to the cleaner, paid driver, or any workman.
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Q. Do I get coverage for the stolen bike under Bajaj Allianz third-party bike insurance policy?
Ans: No, Bajaj Allianz third-party insurance policy does not cover theft. -
Q. What is the tenure of Bajaj Allianz third-party bike insurance long-term policy?
Ans: With Bajaj Allianz Long Term Policy, you get coverage for a duration of 3 years.
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Disclaimer: The list mentioned is according to the alphabetical order of the insurance companies. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website www.irdai.gov.in
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*TP price for less than 75 CC two-wheelers. All savings are provided by insurers as per IRDAI-approved insurance plan. Standard T&C apply.
*Rs 538/- per annum is the price for third party motor insurance for two wheelers of not more than 75cc (non-commercial and non-electric)
#Savings are based on the comparison between the highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB.
*₹ 1.5 is the Comprehensive premium for a 2015 TVS XL Super 70cc, MH02(Mumbai) RTO with an IDV of ₹5,895 and NCB at 50%.
*₹457/- per annum (₹1.3/day) is the price for third-party motor insurance for private electric two-wheelers of not more than 3KW (non-commercial). Premium is payable annually. The list of insurers mentioned is arranged according to alphabetical order of the names of insurers respectively. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. The list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For the complete list of insurers in India, refer to the Insurance Regulatory and Development Authority of India website: www.irdai.gov.in
