Shriram Third-Party Bike Insurance

Shriram third-party bike insurance policy covers any third party damage or loss caused by the insured’s bike. It is mandatory by the Indian Motor Vehicles Act, 1988. Here, the third party stands for an individual or individual’s property other than the bike owner and the insurer.

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Shriram Third Party Bike Insurance vs. Comprehensive Bike Insurance

Here is a table showing a comparison between the two types of insurance:

Features

Third-Party Insurance for Two-Wheelers

Comprehensive Insurance for Two-wheelers

Legal Requirement

It is a legal requirement according to the Indian Motor Vehicles Act

Opting for this cover is your own choice and is not legally mandatory

Coverage

In this policy, the policyholder gets covered legally and financially for any third-party liabilities in a bike accident

Here, the policyholder gets covered for the damage that occurred to his own bike and any third-party liabilities

Add-on Cover

There is no add-on available

Various add-ons are available with this insurance to extend the coverage benefits

Premium

The premium cost is low due to the limited policy coverage

The premium cost is high due to extensive coverage

Scope of Coverage

It offers less coverage and is less expensive. You can buy it if the bike is too old or you rarely use the bike

It offers vast coverage, so you can opt for this if you want full coverage for your bike

Scope of coverage

In case of fire or vehicle theft, this insurance does not give any coverage

It offers coverage in case of damage due to fire or vehicle theft

Also, it does not give any coverage in the case of natural calamities like storms, floods, hurricanes, etc.

It covers the bike holders from any damage by any natural calamities

Inclusions of Shriram Third-Party Bike Insurance

This policy covers the following expenses during the policy term:

  • Any physical injury, disability caused by the policyholder’s bike to the third party
  • The death of a third party caused by the policyholder’s bike
  • Any damage occurring to the property belonging to the third party by the policyholder’s bike

Shriram Third-Party Bike Insurance Exclusions

The policy does not provide coverage for the following expenses: 

  • This policy excludes coverage for any damage to the policyholder’s bike due to an accident
  • There is no provision for coverage if the insured gets injured during a bike accident
  • There is no insurance coverage in case of theft of the bike or damage due to fire

FAQs

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Shriram Third-Party Bike Insurance Reviews & Ratings

4.8 / 5 (Based on 21 Reviews)
(Showing Newest 10 reviews)
Divjot
Moradabad, October 09, 2021
Claim settlement
I was coming home from my office and due to imbalance, I met with an accident. My bike was completely damaged in the accident for which I had applied for the claim. My bike was repaired cashless at the network garage of Shriram General Insurance Company.
Dhruvi
Gurgaon, October 09, 2021
Faster claim settlement
Thanks to Policybazaar for helping me get the claim settlement. I wanted to apply for the claim as my bike was damaged and I took the help of Policybazaar from where I had taken Shriram General Two Wheeler Plan. I got faster claim settlement because of Policybazaar.
Bhavana
Tiruppur, October 09, 2021
Midnight assistance
Policybazaar always pushes its limits to offer the best service to its customers. It was twelve at night when I contacted the customer care of Policybazaar for help. My bike was broke down and I needed tow facility. with the help of my Shriram general bike plan i got assistance at midnight.
Aryan
Aligarh, October 09, 2021
Faster claim settlement
Last week I met with an accident and my bike got completely damaged due to an accident for which I claimed. With the help of Shriram General Bike Plan, my bike got cashless repair. I have got financial assistance in my time of need.
Aryan
Bareilly, October 09, 2021
Trusted place
I am saying from my experience that Policybazaar is the most trusted place and gives the genuine advice without misleading the customer. I have recently renewed Shriram General Bike Policy which I am using since last four years. great experience with them.
Apoorva
Tiruchirappalli, October 09, 2021
Low cost
I liked Shriram Two Wheeler Insurance out of all the plans I have seen. i was randomly checking two wheeler plans on google and i came across the website of policybazaar. what i saw is Policybazaar is offering such good deals at low cost.
Anshika
Mysore, October 09, 2021
No claim bonus
I am happy to get my bike insured by taking shriram general insurance policy from Policybazaar. I have recently got no claim bonus as I did not take any claim settlement during my policy term. thanks to Policybazaar for giving such amazing features.
Ankur
Hubli Dharwad, October 09, 2021
Helpful staff
I had a great interaction with Policybazaar. The executive who was explaining the policy to me was so helpful and made everything clear and understandable by providing brief information about Shriram two wheeler insurance plan.
Ankit
Solapur, October 09, 2021
Easy to compare
Policybazaar is always on the list when it comes to getting the best deal. I found it very easy to compare different plans on the same platform. I have bought Shriram Two Wheeler from here and when I was buying, it became convenient for me to choose the best plan as they have so many plans available.
Theresa
Srinagar, August 18, 2021
hassle free procedure
i got many features under my Shriram two wheeler insurance policy which i took from policy bazaar. i got it at affordable rate and procedure was hassle free. it has a coverage against loss or damage to the insured vehicle under my plan.