Third party bike insurance is the most basic form of bike insurance that you must mandatorily buy to use your vehicle on indian roads as per section 146 of the motor vehicles act, 1988. A third party insurance policy covers the policyholder against all the legal liabilities arising due to property damage, death or bodily injuries caused to a third party by the insured’s two wheeler.
This plan covers any legal obligation to a third party in the event of any death/injury and/or property damage to a third party caused by your vehicle.
Insurance policy for bike first party. Well, you will have pay a lot more upfront for the insurance policy from now on. The type of insurance policy for bike depends upon the coverage it offers. Under this type of two wheeler insurance policy, if your bike causes injuries to a third party or damages surrounding property, then your insurer will take care of the expenses.
Along with it, my father also gifted me an icici lombard two wheeler insurance policy. The plan covers the following risks. The same is mandatory by law, without which you could be liable for a fine of rs 1,000 to rs 2,000.
However, the choice is with you. From online bike insurance renewal to a new bike insurance, we have got you covered. My pulsar was my first bike, my dream come true gifted on my birthday.
For the last 2 years, both my bike and my policy have served me well. Driving a bike without an active third party bike insurance policy is a legal offence punishable with a fine of rs. The oriental insurance company limited generally offers two types of plans under their two wheeler insurance:
Before coming to a conclusion let’s look at the difference between the two types of bike insurance policies. Coverage under a renter’s insurance policy; However, this penalty is applicable for the first time offence only, but, if you continue to drive your bike without holding a 2 wheeler insurance policy and get caught for the second.
This policy offers less coverage as compared to a comprehensive bike insurance policy. If the insurance is not transferred and the policy still bears the name of the first owner, then in case of an accident, the claim for damages caused to the vehicle, or to a third party, will not. Keep up the good work, lombard team.
Buy your bike insurance today! Two wheeler vehicle liability policy. For example, dents on your bike because of a tree falling on it, or damages caused by fire are also covered.
No matter which policy you choose, make sure to renew it in a timely manner to keep it active. Third party bike insurance provides cover against third party liability arising out of an accident by your vehicle towards a third person and property. Personal accident cover in bike insurance:
This type of insurance policy covers the owner against legal liabilities arising out of an accident. Two wheeler insurance/bike insurance refers to an insurance policy, taken to cover against any damages that may occur to your motorcycle / two wheeler due to an accident, theft, or natural disaster. It covers damage to the third party property or deat h or bodily injury to a third party by the insured vehicle.
Bike insurance price after choosing the right coverage, opt for the insurance policy that provides lower bike insurance price. It will vary depending on the person and type of coverage. 2 wheeler insurance provides protection against third party liabilities arising from injuries to one or more individuals.
Check us out to avail depreciation allowance emergency medical expenses & more! 2,000 and/or imprisonment of up to 3 months. Planning on buying a new car or bike?