Third-party bike insurance is mandatory by law in India for all two-wheelers. It provides coverage for any damage or injury caused by your b...
Third-party bike insurance is mandatory by law in India for
all two-wheelers. It provides coverage for any damage or injury caused by your
bike to any third-party person or property. However, not all third-party bike
insurance policies are the same. There are different types of third-party bike
insurance policies available in India that cater to specific needs and
requirements. If you are planning to get one, you can opt for Bajaj bike
insurance without any second thought.
Here is a comprehensive guide to different types of
third-party bike insurance policies in India. Read to know more!
Third-party bike insurance
Third-party bike insurance policies are designed to provide
financial protection to third-party individuals or property that may have been
damaged or injured in an accident involving the insured bike. The third party bike insurance policy does not provide coverage for
any damages or loss to the insured bike itself.
Let us take a closer look at the different types of
third-party bike insurance policies available in the market.
Third-Party Liability Only Policy:
A third-party liability-only policy is the most basic type of
third-party bike insurance policy. This policy provides coverage for any legal
liability arising due to the insured bike's involvement in an accident that
leads to third-party property damage or bodily injury. In such cases, the
insurer will pay the compensation amount to the third party as per the policy
terms and conditions. Bajaj bike insurance offers the best third-party
insurance in India.
Third-Party Liability + Personal Accident Policy:
A third-party liability + personal accident policy provides
coverage for third-party property damage or bodily injury caused by the insured
bike. Additionally, this policy also provides personal accident coverage for
the bike owner or rider in case of accidental death or permanent disability due
to an accident involving the insured bike.
Third-Party Liability + Theft Policy:
This type of third-party bike insurance policy provides
coverage for third-party property damage or bodily injury caused by the insured
bike. Additionally, this policy also provides coverage against theft or total
loss of the insured bike due to theft or any other reason.
Third-Party Liability + Fire and Theft Policy:
A third-party liability + fire and theft policy provides
coverage for third-party property damage or bodily injury caused by the insured
bike. Additionally, this policy also provides coverage against theft or total
loss of the insured bike due to theft or any other reason, as well as any
damages caused to the insured bike due to fire.
Comprehensive Policy:
A comprehensive policy provides complete coverage for
third-party property damage or bodily injury caused by the insured bike, as
well as damages or loss caused to the insured bike itself due to accidents,
theft, fire, or any other unforeseen circumstances. This policy is the most
extensive type of bike insurance policy available in the market. If you are
planning to get a comprehensive plan, make sure to get the Bajaj bike
insurance.
The above-listed different types of third-party bike
insurance policies provide varying levels of coverage and benefits, allowing
bike owners to choose a policy that best fits their needs and budget.
Here are some of the best third-party bike insurance policies
available in India.
HDFC ERGO Bike Insurance:
HDFC ERGO is one of the leading insurance providers in India,
offering a range of insurance policies including bike insurance. The
third-party bike insurance policy offered by HDFC ERGO covers damages caused to
a third-party person or property up to a certain limit. The policy also offers
personal accident coverage for the bike owner.
ICICI Lombard Two-Wheeler Insurance:
ICICI Lombard is another leading insurance provider in India
that offers third-party bike insurance policies. The policy covers damages
caused to a third-party person or property up to a certain limit. It also
offers several add-on options for customers to purchase. The policy can be
purchased online easily.
Bajaj Allianz Bike Insurance:
Bajaj Allianz is a well-known insurance provider in India,
offering a range of insurance policies including bike insurance. The
third-party bike insurance policy offered by Bajaj Allianz covers damages
caused to a third-party person or property effectively. It comes with a strong
network of garages for cashless services. The Bajaj bike insurance has a claim settlement ratio of 98%.
Oriental Insurance Two-Wheeler Insurance:
Oriental Insurance is a government-owned insurance company in
India that offers third-party bike insurance policies. The policy covers
damages caused to a third-party person or property. The customisation option is
available with this insurance plan.
National Insurance Two-Wheeler Insurance:
National Insurance is another government-owned insurance
company in India that offers third-party bike insurance policies. It offers a
range of best insurance policies ranging from personal to commercial insurance.
It is important to compare different policies and choose the one that offers the best coverage at an affordable price.
