As per the Motor Vehicles Act, every bike that rides on Indian roads has to be adequately insured against third-party responsibility.
Bike Third-Party Liability Insurance: What Is It?
Third-party liability bike insurance covers harm or injury to the public or their property caused by your bike. It ensures you’re financially protected from any damages or losses you may cause while riding.
Is The Third Party Policy For Two-Wheeler Adequate?
The law merely requires a third-party cover, yet more is needed. Your brand-new bike needs thorough protection. Bewildered?
Let us explain.
A third-party policy will pay for any damages or injuries your bike or you sustain, but it will not cover your financial liability to third parties. You would be responsible for protecting the expense. Should the pillion rider sustain unintentional injuries, their third-party insurance policy would not provide financial assistance.
Under a comprehensive policy, every one of these damages may be insured. The policy covers accidental demise or disability (loss of limbs, eyes, or any other permanent disabilities) suffered by you and the pillion rider, third-party liability, and damages incurred by your bike. As a result, the policy offers more excellent coverage and motor insurance benefits, particularly for pillion riders.
The pillion rider is not permitted to assert third-party liability under third-party policies in the event of an injury. On the other hand, if the pillion rider has a comprehensive policy, they can file a third-party claim and receive payment for their injuries. You can manage your comprehensive policy using an app for motor insurance. Claims are subject to terms and conditions set forth under the motor insurance policy.
What Does Comprehensive Insurance Cover For Two-Wheelers Include?
Comprehensive coverage pays for harm to your bike that results from:
- Third-party responsibility
- Lightning, fire, explosions, self-ignition, etc.
- Collisions, hits, theft, etc.
- Any natural disaster, including hurricanes, earthquakes, and floods
- Accidental damages, burglary or theft
- Personal Accident cover for the owner/driver
Is Insurance Beneficial?
Haven’t your parents cautioned you about being careful when riding your bike? They must have. Two-wheeler accidents are prevalent. In each collision, the police file a First Information Report (FIR) in your name and transmit it to the Motor Accidents Claim Tribunal (MACT). MACT is a court-appointed body to hear accident claim cases. The court would examine the injury caused and establish a compensation sum. The same will be informed to you. If you meet with an accident, the bare minimum financial liability may be at least Rs.5 lakhs.
Moreover, if the accident results in passing away, the liability is infinite. The numbers are whopping. Could your pocket money cover it?
Furthermore, the damages sustained by you and your bike are also covered when it comes to comprehensive plans. You surely realise the high repair costs of fixing your bike after an accident. These fees are also unaffordable with your pocket money. So, comprehensive coverage assists by taking care of the financial burden of any mishap. Also, if you have availed of a loan and your bike is fully damaged, the bike insurance claim which paid for the damaged bike can be utilised to pay off your loan. Manage your policy on the go using a Bajaj Allianz two-wheeler insurance app. Claims are subject to terms and conditions set forth under motor insurance policy.
Get insured anytime, anywhere! Check out Bajaj Allianz General Insurance website to learn more and download the app now.
Standard T&C Apply
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.