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TATA AIG Third-Party Bike Insurance
Third-party bike insurance by TATA AIG General Insurance Company Limited protects the insured bike against the liabilities of third parties resulting from an accident. It provides financial coverage for any injury or damage caused by the insured bike to a third party or his/her property. The policyholder can easily avoid the unexpected expenses due to any third party accidental liabilities by buying this policy.
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TATA AIG Third-Party Bike Insurance vs Tata AIG Comprehensive Bike Insurance
Take a look at the differences between third party bike insurance and comprehensive bike insurance by Tata AIG Two Wheeler Insurance below:
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Categories |
Tata AIG Third-Party Bike Insurance |
Tata AIG Comprehensive Bike Insurance |
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Coverage |
This is the basic cover that protects the policyholder financially against any third-party liabilities only. |
Comprehensive bike insurance covers the policyholder against third party injuries/damages and the own damages to the bike. |
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Legal Requirement |
The cover is legally mandatory for all two-wheelers by the Indian Motor Vehicles Act, 1988. |
This policy is not compulsory by the law. |
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Add-on Covers |
Add-on covers are not available under this policy. |
Multiple add-on covers, such as engine protector, zero depreciation, etc. are available, which the bike owner can choose as per his/her requirement. |
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Premium Cost |
The policy is more cost-effective owing to the limited coverage provided to the policyholder. |
This policy is comparatively high priced owing to the extensive coverage offered by it. |
What is Covered under TATA AIG Third-Party Bike Insurance Plan?
The TATA AIG third-party bike insurance policy covers the following:
- Bodily Injuries- This type of bike insurance covers the physical injuries caused to the third party in case of an accident of the insured bike.
- Property Damages - This policy provides financial assistance of up to Rs 1 lakh to the policyholder for causing property damages to a third party during an accident.
- Death Benefits- In case of death or permanent disability caused to the third party as a result of an accident of the insured bike, the victim’s family will be paid compensation. The amount of compensation is finalized by the Motor Accidents Claims Tribunal. The Tata AIG General Insurance Company will also provide full financial assistance to cover the medical expenses.
- Personal Accident Cover– The policy also provides personal accident cover of up to Rs 15 lakh to the owner-driver of the bike. However, the policyholder can opt-out of this cover if he/she already has an existing PA cover.
What Does the Tata AIG Third Party Bike Insurance Plan Not Cover?
Here are the things that are not covered by the TATA AIG third-party insurance:
- TATA AIG bike insurance third-party coverwill not provide coverage for the own damages of the insured two-wheeler.
- The wear and tear of the bike will not be covered.
- Consequential loss of the bike will not be covered.
- Mechanical breakdown of the bike will not be covered.
Check the complete list of exclusions by referring to the policy document of Tata AIG third party bike insurance.
Explore Tata Aig Bike Insurance
FAQs
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Q1. Is coverage available beyond the geographical area specified by the Tata AIG third-party bike insurance policy?
No. If the bike accident occurred outside the pre-specified geographical area, TATA AIG General Insurance Company would not cover any third-party liabilities.
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Q2. How can I avail myself of the coverage in the case of Tata AIG third-party bike insurance?
The first step after the accident is to intimate TATA AIG General Insurance Company about the accident or the mishap. The customer can reach out to them by calling on their toll-free number to register their claim request. The request can also be filed from the website or by visiting the nearest office of the insurer.
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Q3. Does the TATA AIG third-party bike insurance cover riders ofthe vehicle?
Yes, the insurance company covers any injuries to the owner-driver of the insured bike under personal accident cover. However, the pillion rider will not be covered if he/she gets injured in an accident of the bike.
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To regulate and ensure safe operation, every motorbike owner inTATA AIG Third-Party Bike Insurance Reviews & Ratings
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^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 (1.3/day) is the price for the third-party motor insurance for private electric two-wheelers of not more than 3KW (non-commercial). Premium is payable on an annual basis
