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Liberty Third-Party Bike Insurance
Third-party insurance is mandatory for all bike owners in India. Liberty third-party bike insurance covers multiple liabilities caused to the third party, including death and disability. The policy also covers third-party property damages.
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Liberty Two Wheeler Insurance
- Liberty Third-Party Bike Insurance
Liberty third-party bike insurance allows policyholders to choose a personal cover anywhere between one year and five years. The personal accident cover assures a sum of INR 15 lakhs in case of road injury or accident.
Liberty Third Party Two-Wheeler Insurance vs. Comprehensive Two-Wheeler Insurance
The table below gives the difference between Liberty third-party bike insurance and comprehensive bike insurance:
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Parameters |
Third-party bike insurance |
Comprehensive bike insurance |
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Coverage |
It covers the third party only, including property and personal damage |
It covers the third party as well as the policyholder, including both property and personal damage |
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Add-Ons |
It is a standalone cover as no add-ons can be added |
You can opt for multiple additional benefits with comprehensive bike insurance |
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Premiums |
Premiums are lower since they provide limited coverage |
Premiums are higher since the coverage is wider |
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Mandate |
This is necessarily required under the Motor Vehicles Act |
This is optional and depends on individual choice |
What is Covered under Liberty Third-Party Bike Insurance Plan?
The Liberty Third-Party Bike Insurance covers the following:
- Third party property damage:This means that if the third party’s property suffers damage due to an accident with the policyholder’s bike, the policy will provide coverage.
- Bodily injury:
- If the third party is injured by the policyholder’s bike, then claims arising out of injury, harm, and disability are covered under this policy.
- Loss of life of the third party is also covered under this policy. The claim amount for both injuries and fatality is determined in court.
- Damage to the Insured:
- Fatality – 100% compensation
- Injuries
- Loss of one limb – 50% compensation
- Loss of one eye – 50% compensation
- Loss of both limbs – 100% compensation
- Loss of both eyes – 100% compensation
- Total disability other than above – 100% compensation
What is Not Covered Under Liberty Third-Party Bike Insurance Plan?
While Liberty third-party bike insurance covers various incidences, some things are not included, such as:
- Loss or damage due to overdose of alcohol while driving, and if found to be driving without a valid driving license
- Any significant loss apart from any damage due to lubricating oil leak to:
- Gearbox
- Engine parts
- Engine oil and other consumables during engine flushing
- Loss, damage, or corrosion due to untimely salvation or notification to the company when the bike is stranded in a water-logged or flooded area
Liberty Two Wheeler Insurance Plans
FAQs
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Q. Can I purchase Liberty bike insurance online?
Yes, you can purchase the Liberty bike insurance online. In fact, it is much easier to purchase insurance online since there are no hassles of intermediaries and delays in getting the policy.
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Q. How can I renew my Liberty bike insurance policy?
The best way to renew your bike insurance policy is online. For annual policies, one must renew every year. For others, renewal should be done whenever the policy approaches the expiration date.
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Q. What is a zero-depreciation bike insurance cover?
Zero-depreciation cover refers to the insurer covering the cost of depreciation on payment of extra premium. Otherwise, the depreciation on bike parts is deducted from the claim amount.
Two Wheeler Insurers
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Kotak Mahindra Two Wheeler Insurance
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Navi Two Wheeler Insurance
New India Assurance Two Wheeler Insurance
Oriental Two Wheeler Insurance
Reliance Two Wheeler Insurance
SBI Two Wheeler Insurance
Shriram Two Wheeler Insurance
Tata AIG Two Wheeler Insurance
United India Two Wheeler Insurance
Universal Sompo Two Wheeler Insurance
Zuno Two Wheeler Insurance
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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