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Reliance Third-Party Bike Insurance
The rising number of two-wheelers and accidents go hand in hand. Given this, The 1988 Motor Vehicles Act made it compulsory for every two-wheeler owner to get their vehicle insured with minimum third-party bike insurance. Reliance third-party bike insurance is the basic type of motor insurance that covers the policyholder for third-party damages.
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Reliance General Two Wheeler Insurance
- Reliance Third-Party Bike Insurance
Third-Party Two Wheeler Insurance protects the policyholder from unforeseen third-party damages and provides financial coverage at affordable premium rates. Though it has a limited scope than comprehensive two-wheeler insurance, it makes sense for those who do not want to drive much and cannot spend much on the premium.
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Reliance Third-Party Bike Insurance vs. Comprehensive Bike Insurance
Reliance third-party two wheeler insurance provides coverage only for damages caused to a third-party i.e. third-party property, vehicle or person. On the other hand, comprehensive bike insurance offers its own damage cover along with 3rd party insurance cover. The difference between Reliance General Third-Party Bike Insurance & Comprehensive Bike Insurance is given in the table below:
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Third-Party Bike Insurance |
Comprehensive Bike Insurance |
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Provides coverage to the damages caused to a third party, person or vehicle, due to an accident. |
Provides coverage to the damages caused to a third party and own vehicle and injuries. |
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Premium costs are relatively low. |
Premium costs are relatively higher because of the extensive coverage it provides. |
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Provides financial protection from damages caused by accidents only. |
Provides financial protection from damages caused by natural calamities, theft, accidents, etc. |
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It is compulsory to have as per law. |
It isn’t made compulsory by law. |
What is covered under the Reliance General Third Party Bike Insurance?
Even though it is mandatory for a two-wheeler owner to buy third-party bike insurance, you must know the features of the policy to get optimum benefits from it when the need arises. Thus, here are the things that are covered by the Reliance third-party two wheeler insurance:
- It provides financial protection to you if you get in a collision with somebody else and cause injuries to them. It even provides coverage in case of the death of a third party
- It provides financial coverage of up to Rs 1 lakh if your vehicle causes harm to the other person’s property
- It provides financial protection if your vehicle causes material damage to a third party’s vehicle
What does the Reliance General Third Party Bike Insurance not cover?
As already stated, your third-party bike insurance provides limited coverage. Therefore, it is equally essential to know what is not covered by your Reliance Third-party two wheeler insurance:
- Your Reliance third-party two wheeler insurance doesn’t provide any financial compensation for the damages caused to your vehicle
- It won’t provide any coverage if the driver was found to be under the influence of alcohol
- Similarly, it won’t provide any coverage if you were driving without a license when the accident occurred
- It doesn’t provide protection, legal or financial, in case of any other type of damage other than an accident.
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FAQ’s
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Q1. How to buy the Reliance third-party two wheeler insurance policy?
Reliance General Insurance Company has kept the process of purchasing the third-party two wheeler insurance as easy as possible for their customers. It can be bought online and with the requirement of minimal documentation.
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Q2. Are there any add-ons available along with the Reliance third-party two wheeler insurance?
No, there are no add-ons available along with the Reliance third party bike insurance. The add-ons are available only with the comprehensive insurance plan.
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Q3. Is there any personal accident cover provided by the Reliance third-party two wheeler insurance?
Yes, as per the rule laid by IRDAI, every bike insurance plan has to mandatorily provide a personal accident cover of up to Rs 15 lakh.
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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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