Is Third-Party Bike Insurance Enough for Your Bike?

In India, third-party bike insurance is a mandatory requirement for every bike owner. It gives basic coverage against damages caused to third parties. However, is a third-party bike policy enough for your two-wheeler? Let us understand this in the article below.

Read more
Get Two-Wheeler Insurance
Starting @ only ₹538/year#
  • Compare & Save upto 85%*

  • 20+ Insurers

    To Choose From
  • 1.2 Crore+

    Bikes Insured

#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.

Stay home & renew bike insurance in 2 minutes
No Documents Required
Get Bike Insurance starting @ only ₹538/year#
Enter Bike Number
Processing
Other options
 

Understanding Third-party Bike Insurance Coverage

Third-party bike insurance offers financial coverage against any damage or loss caused to the third party by your two-wheeler. As per the Motor Vehicle Act 1988, all bike owners must buy at least this third-party liability policy to legally ride in India. If you are riding without a third-party bike insurance policy, you may have to pay hefty fines and face legal consequences.

Under a third-party policy, the insurer pays compensation for the damages caused to a third party. However, this compensation depends on the factors mentioned below-

  • Severity of injuries
  • Age of the third-party
  • The profession & income of the third-party

In case of the injury or death of a third party, the Motor Accident Claim Tribunal (MACT) decides the compensation amount. In addition, if there is property damage then the compensation amount is limited to Rs. 7.5 lakh.

You can also read- Own Damage V/S Third-party Bike Insurance Policy

Is Third-party Bike Insurance Enough?

The answer to this question is yes, third-party bike insurance is enough as per the Motor Laws. However, to cover your bike against the own damage you will need an extended coverage.

Third-party liability insurance does not cover any own damage sustained by your bike. It means damages caused to your own vehicle due to accidents, natural calamities, and theft are not covered under third-party bike insurance.

Thus, for better coverage, you must opt for a comprehensive bike insurance policy as it offers complete protection against several unforeseen risks, including third-party liabilities. Moreover, this policy can be enhanced with add-on covers such as 24x7 roadside assistance cover, engine protection cover, or NCB protection cover by paying a nominal extra premium.

Wrapping Up!

In India, the law mandates third-party bike insurance for all two-wheeler owners. However, if you are looking for complete protection, this policy is not sufficient. Hence, you must choose a comprehensive bike insurance policy for extensive coverage. For the best two-wheeler insurance plans, visit the official website of Policybazaar Insurance Broker Limited and find the right plan for your bike.

Search
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.

Two Wheeler insurance articles

Recent Articles
Popular Articles
Top 10 Bikes in India

02 Feb 2023

Over 49.7% of Indian households possess a two-wheeler as per a
Read more
8 Tips to Extend the Battery Life of an E-bike

06 Jan 2023

Unlike a fuel bike, electric two-wheelers are easy to ride and
Read more
Does Your Dirt Bike Need Insurance?

06 Jan 2023

Riding a dirt bike is an enjoyable experience for many people
Read more
Everything You Need to Know About KYC Norms in Two-Wheeler Insurance

30 Dec 2022

Amid the rising number of bike insurance fraudulent cases such
Read more
What are 1st, 2nd & 3rd Parties in Bike Insurance?

28 Dec 2022

If you are planning to buy bike insurance online, you must have
Read more
Best Two Wheeler Insurance Plans in India
When it comes to choosing the best two wheeler insurance plans, we’re sure you have heard enough from different
Read more
Everything You Need to Know About KYC Norms in Two-Wheeler Insurance
Amid the rising number of bike insurance fraudulent cases such as money laundering and terrorist financing, all
Read more
How to Get Duplicate RC Online & Offline?
A Registration Certificate or RC is as important as the Driving License (DL) or two-wheeler insurance policy for
Read more
Lost Your Two Wheeler Insurance Documents? Here Is What You Need To Do
A bike insurance policy is one of the mandatory documents that every two-wheeler owner must have. In case you have
Read more
Zero Depreciation Bike Insurance
Every two-wheeler goes through depreciation. Simply put, depreciation of a vehicle means a reduction in its value
Read more