5 things to know about Third Party Bike Insurance

Third-party bike insurance is essentially the cover for the insured person against any third-party damages that occur in an accident. For instance, if you happen to get in a bike accident and are found liable to pay for the damages of the concerned party, the insurance company pays these charges for you. However, the damages incurred to you and your bike are not covered.

To help you understand this type of insurance better, here are 5 things to know about third party bike insurance - 

1) It is the most basic insurance requirement for motorists - In accordance with the Motor Vehicles Act of 1988, it is illegal to ride a two-wheeler in India without a valid bike insurance cover. Third-party insurance is the most basic and budget-friendly way to meet this requirement of the law.


2) What does it cover - A third-party insurance relieves you of the financial burden of having to pay for the damages of the other party. It covers you against the property damages of the third party and also pays the hospital fees or any other such bill charges in an effort to reduce your financial burden while compensating for the third-party’s losses. 


3) What it does not cover - This insurance does not cover the damages incurred to you and your property in the accident. You would also not be able to make an insurance claim if your bike gets damaged due to natural disasters like earthquake, tsunami, hurricanes, and so on. If you live in an area that is prone to these natural calamities, you might want to take comprehensive bike insurance.

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