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Navi Third-Party Bike Insurance
Navi General Insurance's third-party bike insurance policyholders get a lot of coverage for their bikes and scooters. The policy covers legal and financial obligations to a third party. According to the Motor Vehicles Act, every bike owner must have a third-party insurance policy when driving on the roads. The owner of a new bike must purchase third-party insurance for at least five years. Navi General Insurance provides reasonable third-party insurance that may be purchased online.
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Navi Third-Party Two-Wheeler Insurance vs. Comprehensive Two-Wheeler Insurance
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Basis |
Third-Party Bike Insurance |
Comprehensive Bike Insurance |
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Coverage |
Third-party bike insurance protects you from financial and legal obligations owed to a third party if one has an accident while riding the bike |
It covers 3rd party liabilites along with own-damages resulting due to an accident, theft, natural disasters, manmade disasters, and so on |
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Nature of Requirement |
According to the Motor Vehicles Act, it is a necessity |
It is optional because it is based on personal choices |
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Add-ons Availability |
There are no add-on covers that may be added to the third-party bike insurance plans |
The coverage can be expanded with add-on covers |
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Premium |
Because of the limited coverage, third-party insurance premiums are comparatively less |
Because of the substantial coverage, the premium for a comprehensive policy is slightly higher
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What is Covered under Navi Third-Party Bike Insurance Policy?
Navi third-party bike insurance policy provides coverage against various situations that could result in damage or loss. The policyholders are covered for the following expenses:
- Third Party Property Damage Cover: This plan compensates a third party for property damage caused by an accident or incident involving the insured person's motorcycle. Third-party property damage compensation is restricted to Rs 1 lakh.
- Third-Party Bodily Injuries or Death Cover: The insurance company pays for the accidental injury or death of a third party. However, in the event of a loss of life or disability, the insurer determines the compensation amount based on a court of law's decision.
- Personal Accident Cover: This is an add-on cover that is provided with third-party insurance. It provides coverage to the owner-driver in case of accidental injuries.
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What is Not Covered Under Navi Third-Party Bike Insurance Plan?
Third-party insurance policies have restricted coverage, which all policyholders should be aware of. The following are some things that aren't covered by third-party bike insurance:
- Contractual damages are not covered
- Accidents occurring because of drunk driving are not covered
- If you were driving without a license, then the policy won't provide coverage
- If you delay informing the insurer, you won't receive any coverage
FAQs
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Q1. What does third-party liability mean in terms of bike insurance?
Third-party liability means the damages that you may cause to a third party in the event of a road accident. These damages can be property and bodily damages. In such scenarios, you will be expected to compensate the third party for the losses.
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Q2. Is Navi third-party bike insurance sufficient
Third-party bike insurance provides coverage for third-party liabilities only. Though it is less expensive and mandated by law, it is insufficient for people who wish to have own damage cover, and avail of add-on benefits like zero depreciation cover, roadside assistance, etc.
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Q3. How to buy the Navi third-party bike insurance policy?
You can visit the official website of the insurer and contact the experts at Navi General insurance Company through their customer care contacts. The experts will guide you in your process of buying the policy. You can also visit the branch office to buy the policy offline. Alternatively, you can get in touch with bike insurance experts at Policybazaar.com. You can email them at care@policybazaar.com or call them at 1800-208-8787.
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Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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