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Everything You Need to Know About Third-Party Two-Wheeler Insurance Plans




In India, buying bike insurance is just another part of purchasing a bike. You cannot buy or ride a bike without having a valid two-wheeler insurance policy for the vehicle. The biggest reason for that is the law. As per the Motor Vehicles Act, you need to have at least liability coverage for riding your bike on the road legally. Due to it being a regulatory requirement, everybody buys a third-party policy. But hardly anybody gives any thought to why traffic regulations require purchasing this policy.

Two-Wheeler Insurance Plans

Every vehicle that drives on the road and every driver can end up in an accident. In such a situation, you might end up damaging your bike, and that would not be all of your troubles. Due to the lack of physical safeguards, while riding a motorcycle, you may also end up taking grave physical injuries. But these are all the things that happen to you. At this time, it is essential to remember that every accident involves at least two vehicles. Even if you can fix your damages out of pocket, another person may have taken similar or worse injuries. As you raise the bike involved in the accident, it is your responsibility to compensate that individual for his troubles.

Two-wheeler Insurance: Third-Party Cover

You have also called third-party liability insurance at times; third-party bike insurance helps you deal with the other side of accidents. Usually, when you think of an accident, you are more concerned about how much damage your bike has taken or whether you have any injuries or not. However, damage happens on both sides. Dealing with the damage on the other side becomes your responsibility. A third-party two-wheeler insurance policy is a type of coverage plan that helps you meet all the legal or financial liabilities arising out of the accident. This includes any damage or loss you may have inflicted upon a third-party individual, vehicle, or other property. However, it does not offer you coverage for damages to your bike. Hence, third-party plans provide a limited range for an affordable bike insurance price.

How does third-party bike insurance work?

As the name suggests and based on what you’ve read so far, you know that a third-party policy focuses on any other individual that may be affected by any accident or road mishap that your bike was involved in. In such a situation, the compensation you have to pay becomes a liability. You would have to pay for any physical harm or property damage this individual may have caused. Depending on the injury, the penalty can be too much for you to cover out of your pocket. Moreover, if the third party decides to take legal action against you, you must also cover legal expenses. These costs are covered by third-party bike insurance.

The insurance provider will offer coverage against all liabilities mentioned in the terms and conditions of your policy. Usually, this coverage includes medical costs to treat the third party’s injuries and compensation for property damage. * Standard T&C Apply. A third-party insurance policy takes the burden of these liabilities away from you. With that being said, it is imperative not to overlook insuring yourself and your bike with a two wheeler insurance third party cover. Finally, 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.




Latest Posts

5 Reasons To Start Blogging For Business

To blog or not to blog? That is the question… Wait, is it? The real question should be: How can I fit blogging for...

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SPRINGFIELD, Mo. -- One of the owners behind a new bar in Springfield is drawing global attention. Co-owner of "The Golden Girl Rum Club,"...

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