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National Third Party Bike Insurance
Third-party insurance is a mandatory policy that has to be taken by every bike owner in India. National third-party bike insurance covers up for the loss and damages caused to a third party by the policyholder due to an accident.
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- National Third-Party Bike Insurance
The Motor Vehicle Act, 1988 makes it compulsory for every vehicle owner to have third-party insurance. The third-party bike insurance covers the legal liability of the insured towards the third party that includes:
- Bodily injuries caused to a third party
- Death of a third party
- Damage to the third party property
National Third-Party Bike Insurance
The National General Insurance Company lets the policyholder fulfill the requirements of the Indian Motor Vehicle Act, 1988 and saves him from any unforeseen road emergency arising due to third-party claims or liabilities. In case of any damage incurred by a third party due to the insured's two-wheeler, this bike insurance provides basic security cover to the insured in terms of:
1. Financial Assistance
2. Legal Assistance
National Third-Party Two-Wheeler Insurance vs. Comprehensive Two-Wheeler Insurance
| Basis | Third-Party Bike Insurance | Comprehensive Bike Insurance |
| Coverage | It offers coverage for the legal and financial liabilities of the third party only | It provides coverage for the damages to the insured's bike as well as any third party |
| Legality | It is a mandatory requirement as per the Indian Motor Vehicle Act, 1988 | Its purchase is optional for those who wish to get own damage cover as well |
| Add-ons | No add-ons are available | A variety of add-on covers are available for the policyholder |
| Premium | The third-party insurance is cost-effective due to its limited coverage benefits | The premium of the comprehensive policy is relatively high due to the wider scope of coverage |
Explore National Bike Insurance
What is covered under the National Third-Party Bike Insurance Policy?
National third-party bike insurance provides the following coverage benefits to the policyholder:
- Loss of life & bodily injury cover to the third party: The insurer compensates for any bodily injury or loss of life caused to the third party from your vehicle. The amount of compensation, in this case, is decided by the court depending upon the facts of the case.
- Property damage of the third party: The limit is up to Rs 1 lakh in case of damage caused to a third party vehicle from your vehicle.
What is not covered under the National Third-Party Bike Insurance Policy?
The National third-party bike insurance policy doesn't cover the following points:
- No coverage for the injuries suffered by the insured person
- No coverage of the damages incurred to the insured bike
- Any loss or damage incurred due to drink and driving, invalid driving license, and usage of the vehicle beyond the scope of coverage
FAQs
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Q1. If a drunk driver causes an accident where a third party suffers damage, will the insurer be liable to compensate such a third party?
No, in that case, the insurer will not be liable as the policy doesn't provide coverage for the accidents caused due to drunk driving.
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Q2. What are the benefits of a National third-party bike insurance policy?
The National third-party bike insurance provides the policyholder with multiple benefits. It covers the damages caused to a third-person and property. Apart from compensating the third party on the policyholder's behalf, the National third-party bike insurance ensures swift claim settlement.
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Q3. Why third-party bike insurance?
The third-party insurance simply implies that the insurance company will pay for the acts of the insured. Getting third-party insurance is a statutory requirement as well; hence every bike owner shall get this insurance done.
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Q4. Can the National third-party bike insurance policy be purchased online?
Yes, the policy can be purchased and renewed hassle-free from the Insurer’s website or from Policybazaar Insurance Brokers Private Limited. You can speak to them at 1800-208-8787 or email them at care@policybazaar.com.
Two Wheeler Third-Party Insurers
Bajaj Allianz Third Party Bike Insurance
Digit Third-Party Bike Insurance
HDFC ERGO Third party Bike Insurance
ICICI Lombard Third Party Bike Insurance
IFFCO Tokio Third Party Bike Insurance
Liberty Third Party Bike Insurance
New India Assurance Third Party Bike Insurance
Oriental Third Party Bike Insurance
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Bike insurance companies
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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Read more^The renewal of insurance policy is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. Actual time for a transaction may vary subject to additional data requirements and operational processes.
^The buying of Insurance policy is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. Actual time for transaction may vary subject to additional data requirements and operational processes.
#Savings are based on the comparison between 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.
*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%.
*Rs 457/- per annum is the price for the third-party motor insurance for private electric two-wheelers of not more than 3KW (non-commercial).The list of insurers mentioned are arranged according to the 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 complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website www.irdai.gov.in
