Edelweiss Third-Party Bike Insurance Policy
Edelweiss General Insurance Company is one of the leading Insurance providers that offer third-party bike insurance cover to its thousands of customers. The policy covers the cost of damage to the property, injury, or even death of a third party. Under the Indian Motor Tariff, if a person is caught without vehicle insurance, the person is liable to a fine of INR 2,000 and/or imprisonment for up to 3 months.
Edelweiss Third-party Bike Insurance
Third-party bike insurance is a basic policy that you need to ride legally on the roads. It provides financial compensation to the policyholder in case of an accident or a mishap. In that case, the insurance company is liable to pay for the loss or damage incurred. With third-party bike insurance, a person is saved from various legal conflicts. The details regarding Edelweiss third-party bike insurance policy.
Edelweiss Basic Comprehensive Insurance vs. Edelweiss Third-Party Bike Insurance
The comparison between the Edelweiss Third Party bike insurance and comprehensive bike insurance is given below:
Basis |
Third-Party Bike Insurance |
Comprehensive Bike Insurance |
Coverage |
Covers third-party legal and financial liabilities |
Covers both third-party and comprehensive damages |
Add-ons |
Does not include any add-ons |
Various add-ons are available for the insurance |
Nature of Requirement |
Compulsory to be carried everywhere |
Optional insurance for bike bikers and bike owners |
Cost of the Insurance |
Relatively cheap due to limited coverage of the insurance |
Relatively expensive due to extensive coverage of the insurance |
What is covered under Edelweiss Third Party Bike Insurance?
Edelweiss third-party bike insurance policy covers damages incurred by the third party, whether to the property or life. Even if the third party suffers any sort of injury, they are covered by the insurance. The policy also covers the riders and the insured against legal troubles while riding the bikes or scooters. Check out the coverage benefits as given below:
- Third-Party Injury or Death: If the bike of the policyholder and the vehicle of the third party gets involved in a collision that causes damage or death to the third party, the hospitalization expenses and the various other medical costs will be borne by the insurance company. The compensation to be provided to the third party or to the nominee, as decided by the court of law, even under the pretext of permanent or partial damage or death, will also be covered by the insurance company.
- Third-Party Property Damage: If and when a third party is involved in a mishap, the third party can sustain property damage, whose financial liability could be huge. The third-party insurance covers such liabilities for the policyholder.
What is excluded from Edelweiss Third-party Bike Insurance?
Although it is mandated to carry third-party insurance as per the Motor Vehicle Act, it has limited coverage benefits. Some of the benefits that are not included in this policy are as follows:
- Claims filed for own damages are not covered
- Add-on covers like zero depreciation, roadside assistance, etc. are not available
- Injuries caused to the rider
FAQs
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Q. What is the limitation of the Edelweiss third-party bike insurance?
The only limitation that the Edelweiss Third-Party Bike Insurance has is that the coverage is not for the policyholder, instead of for the third party.
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Q. What are the penalties if caught riding a bike without insurance?
For the first time, a penalty of INR 2,000 or imprisonment for three months will be rewarded, and for the second time, a penalty of INR 4,000.
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Q. Can I buy Edelweiss third-party bike insurance policy online?
Yes, you can buy Edelweiss third-party bike insurance policy online from Policybazaar.com. For details, you can speak to our sales experts at care@policybazaar.com and call us at 1800-708-8787.