Every bike rider in India is mandatorily required to have at least a third-party bike insurance plan.

What is 3rd party insurance for bike. The same is mandatory by law without which you could be liable for a fine of Rs 1000 to Rs 2000. Whether you commute on a road bike or just ride on the weekends it is a good idea to choose a policy that has comprehensive third-party liability insurance in case youre involved in a crash. Third-party two wheeler insurance is the most basic bike insurance cover.

The court of law decides the compensation amount. As per the Indian Motor Tariff every bike owner is mandatorily required to have at least a third party insurance policy. A third party bike insurance policy only provides coverage for damages caused to the third party for property damage and bodily injuries due to an accident.

Here the policyholder cannot claim damagesloss for his own vehicle in the mishap. A Two Wheeler Third Party Insurance policy is designed to protect you against damages including death bodily harm injury or death and damage to property to a third party due. 4 rows A Third-party bike insurance policy also known as Third-party Liability cover will protect.

It provides coverage against financial liabilities incurred towards a third-party due to an accident involving your bike. A Third-Party bike insurance is the most basic type of two-wheeler insurance policy that helps cover for any damages and losses your bike could cause to a third-party person property or vehicle such as in the case of an accident or collision. In the event of an accident claims raised by the injured person can be covered under this policy reducing your financial burdens and thereby your stress.

In India it is imperative that you have at least a two-wheeler third party insurance coverage if you take your bike out on the roads as mandated by the Motor Vehicles Act 1988. To an accident involving your two-wheeler. This video helps you to understand Coverage of your CarBikemotor insurance.

A third party bike insurance covers the financial and legal liabilities incurred by the policyholder towards a third party due to a mishapaccident involving the insureds bike. If the third-party incurs any property damage due to your two-wheeler it is covered up to a sum of 75 lakhs as per the IRDAI norms. As the name suggests a third party bike insurance is the type of insurance that covers for the expenses related to losses and damages that you may incur towards a third party after an accident with the involvement of your two-wheeler.