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Bajaj Allianz Third Party Bike Insurance
Bajaj Allianz third party bike insurance covers the insured for third-party liabilities. The policy is mandatory in India which compensates for third party injury, death and property damage!
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Bajaj Allianz Third Party Bike Insurance: An Overview
Riding a motorcycle without valid insurance is a punishable offence as per the extant laws in India and the owner of a bike will have to pay a hefty fine if the bike is ridden without insurance. Bajaj Allianz third party insurance is one of the most popular two wheeler insurance policies. It covers third party liabilities arising due to damage, injury or death to a third party from an accident and is completely affordable.
In the event of personal damages to a third party, which leads to hospitalisation, the medical expenses are covered. In the event of an unfortunate death, a compensation amount is paid up to a particular limit.
Bajaj Allianz Third Party Bike Insurance Vs Comprehensive Bike Insurance
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Bajaj Allianz Third-Party Bike Insurance |
Bajaj Allianz Comprehensive Bike Insurance |
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Meaning |
Third-party bike insurance is mandatory in India as per the Motor Vehicles Act, 1988 and covers the damages caused to third-party by a two wheeler. |
A Comprehensive bike insurance policy covers own-damage cover, in addition to third-party liability insurance, thus providing a complete coverage of all unfortunate events. |
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Coverage Details |
Third-party liability bike insurance secures your two wheeler owner only against loss and damage towards the third-party. It is a limited coverage policy. |
The two-wheeler will be covered against loss, theft, and damage thus providing monetary support against any kind of damage caused to the two-wheeler as well as any affected individual(s), vehicle or property. It is an extensive coverage policy. |
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Add-Ons |
Typically, such policies provide only Personal Accident Cover. |
With this policy, one may opt for beneficial Add-ons inter alia such as a Roadside Assistance, Zero-Depreciation Cover, Return to Invoice Cover, and Consumable Cover. |
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Premium Cost |
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 heavier on the pocket than a third-party insurance policy. |
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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: ● without an active licence ● under the influence of alcohol or drugs Damage or losses as a result of the following: ● Normal wear and tear ● Electrical or Mechanical breakdown ● Sabotage ● Theft ● Natural calamities ● Fire ● Civil disturbance
If the policy is not renewed |
Loss or Damage as a result of: ● Normal wear and tear ● Electrical or mechanical breakdown Damage or loss caused if riding: ● without an active licence ● under the influence of alcohol or drugs If the policy is not renewed |
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Recommendation |
Recommended in case the two-wheeler is fairly old or if the vehicle is not frequently ridden. |
Recommended if one needs broad coverage for the two-wheeler along with add-ons. |
What is Covered Under Bajaj Allianz Third Party Bike Insurance Policy?
Bajaj Allianz Bike Insurance third party cover will provide coverage for the following:
Own Damage
Accidental damage or loss to a two-wheeler caused due to any of the following:
- Fire, self-ignition, explosion, or lightning
- Burglary or theft
- Riot and strike
- Fire or shock damage due to earthquakes
- Flood, hurricane, typhoon, storm, cyclone, frost, hailstorm
- Accidental external means; Malicious act;
- Terrorist activity;
- Any damage due to rail, road, inland waterway, air transat, lift or elevator
- Landslide/rockslide.
Liability to Third Parties
Any legal liability that may arise due to bodily injury or property damage of third parties caused by an accident in which the insured two-wheeler is involved
Personal Accident Cover
In case of death or permanent total disability of owner-driver due to an accident while the two-wheeler travels, the insured or legal heir, will get the specified Sum Insured.
If you are looking for a bike insurance policy, you can consider buying Bajaj Allianz third party bike insurance. The policy comes at a cost-effective rate. However, it is recommended to compare plans before buying.
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Bajaj Allianz Third Party Bike Insurance FAQs
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Q. How to purchase the Bajaj Allianz Third Party Bike Insurance Cover online?
Ans: One may purchase the Bajaj Allianz Third Party Bike Insurance policy online by visiting the insurer website.
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Q. What are the Optional Extensions in the Bajaj Allianz Third Party Bike Insurance Cover?
Ans: One may opt for the following extensions as part of Third Party Bike Insurance Bajaj Allianz:
- Personal Accident Cover for the Occupants
- Loss of bike accessories
- Legal Liability to Cleaner, Paid Driver, or any Workman
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