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Third party bike insurance provides coverage for third party liabilities due to an accident by the insured person’s vehicle. Two wheeler third party insurance covers damage done to third party property/person accidentally by the insured person's vehicle. This includes the death or permanent disability of a third party person. As per The Motor Vehicles Act of 1988, it is mandatory for a two wheeler owner to have third party bike insurance. Driving a bike or scooter in India without third party two wheeler insurance is illegal and traffic cops can penalize you upto Rs 2000 for riding your vehicle without it. Buying third party bike insurance from HDFC ERGO website is easy and hassle-free, secure your ride today.
Features of Third Party Bike Insurance
Before buying a third party bike insurance, you should know about some of its features
| Features | Description |
| Low Premium | Third party bike insurance premium starts at Rs 538 and it is very affordable compared to comprehensive insurance. |
| Provides Liability Cover | The 3rd party bike insurance covers against financial and legal liabilities arising due to damage to the third-party property/person. This includes injury or death of a third party caused due to your insured two-wheeler. |
| Easy to Purchase | Third party two wheeler insurance can be purchased online easily with zero documentation. |
| Fulfill Legal Requirement | By purchasing a third party bike insurance policy you will fulfill the mandatory requirement as per the Motor Vehicles Act of 1988. |
Benefits of Third Party Bike Insurance
| Benefits | Description |
| Avoid Legal Complications | Third party insurance is mandatory as per the Motor Vehicles Act of 1988. If you are found riding a two-wheeler without a valid third party insurance policy, then you will be penalised. |
| Coverage for third party liabilities | If a third-party is injured or meets an unfortunate death due to the insured bike, the financial compensation will be covered under this policy. |
| Affordable Policy | Third-party bike insurance is more affordable than comprehensive and standalone own-damage policy. The IRDAI determines its premium based on cubic capacity. |
| Coverage to Third-party Vehicle | Third party insurance policy provides coverage if the insured bike causes damage to a third party. |
| Paperless Process | Whether you raise a third party bike insurance claim or renew the plan, no paperwork will be required. You simply need to upload all the relevant documents online. |
Inclusions & Exclusions of Third Party Two Wheeler Insurance
Personal Accident Cover
With our third party bike insurance policy we offer a compulsory personal accident (CPA) policy worth INR 15 lacs to shield you against any medical emergencies.
Third Party Property Damage
In third party bike insurance, the insurer will pay expenses for any third party property damage involving the insured person vehicle.
Injury to a Third Party
In case the third party person faces injury or even death due to an insured person vehicle, the insurer will provide coverage for medical treatment or other losses.
Depreciation
Prolonged exposure to roads results in gradual wear and tear of your two wheeler. However, such regular depreciation is not covered in Third Party Cover.
Contractual Liabilities
We offer all-round cover for your two wheeler; however, contractual liabilities remain out of coverage for this policy.
War and Nuclear Risk
Damages to a third party person and property arising out of war, nuclear risks, and radioactive contaminations remain uncovered in third party bike insurance.
Illegal driving
Suppose the person riding the insured vehicle damages a third party person or property and found to be driving without a driving license or under the influence of an alcohol or drug. In that case, the insurer will not provide any coverages
Limitations as to use
We understand your love for bike adventures; however, regrettably, we do not cover if your two wheeler has been involved in dexterity trials, organized racing, and speed testing.
Electrical or Mechanical Breakdown
If any accident occurs due to electrical or mechanical breakdown, the insured person is not entitled to any coverage under two-wheeler third party insurance.
Advantages and Disadvantages of Third Party Bike Insurance
Buying a two wheeler third party insurance is an essential requirement for every bike/scooter owner as per law. You can opt for a comprehensive bike insurance policy after studying the advantages and disadvantages of 3rd party bike insurance. Let us take a look at that in the below table
| Advantages | Disadvantages |
Third party insurance for bike provides coverage to the insurer for damages to a third party person, including injury or death of the third party. For E.g. Mr.A while riding his two wheeler accidentally injures Mr.B, the insurer will pay for the cost of Mr.B’s treatment. | Third party bike insurance policy will not cover any damages or loss incurred to the insured person or their vehicle. For E.g. Mr.A have this policy and meets with an accident where his scooter gets damaged, in that case,the repair cost will be borne by Mr.A.. |
| Coverage for third party liabilities | With this policy, the insurer will not compensate for the theft of the policyholder’s bike. |
Premium for third party bike insurance is affordable compared to comprehensive bike insurance policy. | Two wheeler third party insurance cost less, however, you get limited coverage. |
This policy is easy to purchase and premium rate is determined by the Insurance Regulatory and Development Authority of India (IRDAI). | There are no riders available with third party bike insurance. Also, you cannot customise the insured declared value (IDV). |
Comprehensive Bike Insurance Vs. Third Party Two Wheeler Insurance
Third party two wheeler insurance provides you the most basic type coverage to the policyholder. It covers you from the any damage/losses done to vehicle, property or person. Third party bike insurance is also mandatory for all two wheeler owners failing of which could be liable for a fine of Rs. 2000 and/imprisonment up to 3 months.
| Parameters | Comprehensive Bike Insurance | Third Party Two Wheeler Insurance |
| Coverage | A comprehensive two wheeler insurance policy provides coverage for own damage as well as third party liabilities. | The third party bike insurance policy offers coverage only for third party liabilities. This includes injury, death, and property damage of the third party caused by the insured’s vehicle. |
| Nature of Requirement | It is not compulsory, however recommended to get overall protection for yourself and your vehicle. | It is mandatory to have at least a third party insurance cover as per the Motor Vehicles Act |
| Add-ons Availability | With HDFC ERGO comprehensive bike insurance you can avail zero depreciation cover and emergency assistance cover. | Add-on covers cannot be opted for with third party two wheeler insurance. |
| Cost | It is comparatively costlier because it offers extensive coverage. | It is less expensive as it offers coverage for only third party liabilities. |
| Customization of the bike value | You can customize comprehensive two wheeler insurance policy in accordance with your insurance requirements. | Third party bike insurance policy cannot be customized. It is a standardized policy whose cost is determined on the basis the annual bike insurance rates declared by the IRDAI and the engine cubic capacity of your bike. |
Compensation Offered under Third Party Bike Insurance
The compensation under third party bike insurance is offered to the owner-driver. However, the owner-driver must have a valid driving license and registration certificate of the insured bike. In the below table, you can see the compensation percentage offered under third party bike insurance cover to the policyholder:
| Nature of Injury | Scale of Compensation |
| In case of death | 100% |
| In case of loss of two limbs or sight of two eyes | 100% |
| In case of loss of one limb and sight of one eye | 50% |
| In case of permanent total disability from injuries | 100% |
Long Term Third Party Policy for New Bike Owners
As per the Supreme Court order, all general insurance companies have to offer long term third party bike insurance policy for new bikes. IRDAI has directed the insurance companies to offer mandatory five year policy for two wheelers. Therefore, every new bike owner should ensure that their vehicle has a five year third party bike insurance policy. With the introduction of this new policy, there is no hassle of renewing policy every year. With this policy, the policyholder can also avoid the annual hike in premium as it is set for five years.
The below rates are applicable for long term third party bike insurance policy with effect from 1st June, 2022
| Engine Capacity (cc) | Third Party Bike Insurance Rates for 5 years |
| Up to 75cc | Rs 2901 |
| Between 75 to 150 cc | Rs 3851 |
| Between 150 to 350 cc | Rs 7365 |
| Above 350 cc | Rs 15117 |
Factors that Affect Third Party Bike Insurance Premium
IRDAI determines the third party bike Insurance premium based on the two-wheeler's engine capacity. Hence, the two-wheeler's engine Cubic Capacity (cc) is the only factor that impacts the third party bike insurance premium.
How to Calculate Third Party Two Wheeler Insurance Premium?
While buying third party bike insurance online, it is necessary to know how its premium is calculated. Here’s a step-by-step guide for calculating your bike insurance premium
• Step 1 – Visit HDFC ERGO website and enter your bike registration number and proceed by clicking on get a quote.
• Step 2- You will have to enter your bike make and model.
• Step 3 – You must choose third party bike insurance plan.
• Step 4 – Give details about your last bike insurance policy- Date of Expiry. Enter your mobile number and email ID.
• Step 5 -You can now view your third party bike insurance price.
Why do You Need Third-Party Two Wheeler Insurance?
Apart from being mandatory to have a third party two wheeler insurance as per the Motor Vehicles Act, there are other reasons why you should have this cover:
✔ Mandatory by law: Third party two wheeler insurance is an essential but mandatory cover that all bike owners in India must have. If you are found without third party bike insurance by the traffic police, you can be fined up to Rs 2000/.
✔ Covers any damage to a 3rd party vehicle: In case of an accident by the insured bike causes to a third party vehicle or their property, your third party bike insurance coverage will compensate the cost of damages without you having to worry about it.
✔ Coverage for any injury or death of 3rd party vehicle owner-driver: If the owner of a third party vehicle is injured during an accident by the insured bike, the third party bike insurance will bear the financial losses for such personal damage. Also, if the third party person dies due to the accident, third party two wheeler insurance will protect the insured from the legal and financial implications.
✔ Quick and simple purchase: Tiresome insurance purchase procedures are archaic. Now get your preferred third party bike insurance with minimum documentation by visiting our website in a matter of few clicks
✔ Cost-effective insurance policy: Since all Third Party two wheeler insurance premiums are predefined by IRDAI; it makes this policy affordable for all. Thus, within a nominal value, you can expect coverage for any unforeseeable
third party expenses awaiting you at the bend of the road.
Also Read: Advantages of Third Party Two wheeler Insurance
What Makes HDFC ERGO's Two Wheeler Insurance Stand Out
Here are key points that make HDFC ERGO two wheeler insurance stand out:
• Quick, paperless insurance purchase procedure
• Premium starts at Rs 538*
• Option of Emergency doorstep or roadside assistance Add-on cover
• An extensive network 2000+ cashless garages
• Unlimited claims can be raised
• 100% claim settlement ratio^
• Option for renewal without inspection
How to Buy Third Party Bike Insurance Online?
The below steps will guide you through buying third party bike insurance online.
Step 1Visit our Website HDFCErgo.com
Step 2Enter your bike registration number and click on 'Get Your Quote'. Or proceed by clicking on 'Proceed Without Bike Number'.
Step 3Enter your details (Name, Mobile Number and Email Id). All the quotes in your category will be visible on your screen.- Step 4Verify the two-wheeler details, select the third party plan, and make the premium payment online to buy or renew the third party bike policy instantly.
Pay the premium via a secured payment gateway. The two wheeler insurance policy will be sent to your registered email address or via WhatsApp.
How to Renew Third Party Bike Insurance Online?
If you want to renew third party bike insurance policy, you need to go through following steps:
Step 1: Visit the insurer website, enter the vehicle registration number and select renew the policy.
Step 2: Enter details associated with your policy that you want to renew. Choose the third party cover plan.
Step 3: The renewed bike insurance policy will be mailed to your registered email-id.
How to Switch From Third-party to Comprehensive Bike Insurance?
Riding a bike on Indian roads involves a lot of risks is due to high probability rate of accidents. Insurance is crucial for all two-wheeler owners to compensate for the damages and an ideal plan should provide coverage for any vehicular damages. If you own basic third party bike insurance policy, you will get coverage for only third party liabilities, while comprehensive insurance provides coverage for own damage and third party liabilities. If you only own basic third party insurance for your bike, here are steps to switch to comprehensive insurance:
• Visit the official website of the insurer.
• Click on buy two-wheeler insurance.
• Submit all the necessary forms that contain details regarding your existing third-party insurance policy
• You can opt for self inspection option for your two-wheeler.
• Based on the reports given by the surveyor, the policy plan would be upgraded
• The previous third-party insurance plan will be cancelled, and the new policy will be initiated
Factors to Consider While Raising Third Party Bike Insurance Claim
✔ Valid Evidence The third party must have appropriate, accurate, and trustworthy evidence before they can make a claim for the harm the insured bike caused to them, their car, or their property.
✔ Reporting to the insurance company and the police: Be sure to notify your insurance company and the police immediately if your covered bike is involved in an accident so that you can readily take the following steps if third parties are harmed.
✔ Limit for Damages The Motor Accident Claims Tribunal will pass an order stating the maximum amount that can be awarded in damages. The compensation amount is in accordance with IRDAI guidelines. Currently, the maximum payable sum for damages to a third party's property is ₹7.5 lakhs. However, in cases of injury to third parties, there's no cap on the amount of compensation.
Documents Required for Third Party Bike Insurance Claim
• Copy of third party bike insurance policy
• Copy of Bike’s RC, and original tax receipts for verification.
• Police FIR report while reporting a third party death, damage and bodily injuries.
• Copy of your original driving license.
• Damage repair estimate.
• Payment receipts and repair bills.
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However, it doesn’t provide coverage to the owner of the bike in case of any mishap or natural disaster. It covers damages or death or accidents related costs for a third party.
| Bike engine capacity | Premium |
| Less than 75cc | INR482 |
| More than 75cc but less than 150cc | INR752 |
| More than 150cc but less than 350cc | INR1,193 |
| More than 350cc | INR2,323 |
If you have comprehensive bike insurance that includes third party cover, then, for each year that goes without a claim, you receive a discount on premium. This is called a no claim bonus. This figure might range from 20 to 50 percent of your premium amount.
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