Do you have question, which the best third party insurance for my bike in 2019?

We know that you love driving your bike on the streets of the city. And why not? After all, your bicycle reflects your personality. Therefore, the certainty of your love and affection must be guaranteed.

This would cover personal injuries or the death of a person who would accompany him on a bicycle or on the road. In addition, accidents are more likely to damage third-party assets.

Also read : Renew Bike Insurance With In 2 Min

But do not worry, you can cover all these types of risks by entering a ” Third Party Bike Insurance“.

In summary, Third Party bike Insurance is nothing more than risk insurance. In the event of an unfortunate event, your insurance will pay you all legal obligations.

According to article 146 of the Motor Vehicles Act of 1988, civil third party insurance is mandatory for all vehicles traveling on Indian roads.

third party bike insurance

What is Third Party Bike Insurance?

The conditions for the entry into force of third party two wheeler insurance are detailed below:

  • Death or personal injury of third parties: in case of collision with a person on the street, you can request medical expenses for loss of income if you can not resume work. Job positions. In addition, you are entitled to compensation for physical disability.
  • Property damage: the process will kill you mentally and financially if your bicycle causes material damage to third parties. In accordance with IRDA regulations, property damages caused to third parties are covered up to Rs. 1 lakh under a Third Party Bike Insurance.
  • Death of the owner or driver of the insured bicycle: if you are the owner or driver of the bicycle and do not survive an accident, members of your family are entitled to compensation for the sudden loss of income.
  • Permanent total disability of the owner or driver of the insured vehicle: if you are the owner of the insured vehicle or drive the same vehicle and have a permanent total disability, you are entitled to compensation.

Top 7 Best Third Party Bike Insurance In 2019

These are some of India’s leading best third party insurance for bike in 2019:

  • Bharti AXA
  • Bajaj Allianz
  • TATA AIG Insurance
  • HDFC Ergo
  • Reliance General Insurance
  • SBI General Insurance
  • New India Assurance

Third Party Bike Insurance Rates in 2019

IRDA has standardized premium rates for best two wheeler third party insurance with effect from April 1, 2017, as follows:

Twowheeler (CC) Premium (Rates)
Up to 75 cc Rs.427
75- 150 cc Rs.720
150- 350 cc Rs.985
Above 350 cc Rs.2,323

Most Indians are not aware of bike insurance renewal because they do not remember the expiration date of the insurance. As a result, they run the risk of driving without insurance.

For many of these people, the Insurance Regulation and Development Authority (IRDAI) has allowed insurers to offer long-term bike insurance policies.

Through this initiative, IRDAI aims to encourage vehicle owners to establish a backup mechanism to protect themselves from a series of problems that may arise when driving their vehicle.

A policy can be completed for a maximum of three years.

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What is third party bike insurance?

The conclusion of third party insurance is mandatory for your bike. In case of accident, you are legally and financially responsible to third parties. However, keep in mind that the damages and injuries suffered by you or your bicycle are not covered.

What services are not covered by the two-wheeler third-party insurance?

1) Loss or damage due to inappropriate behavior, for example, B. Driving while drunk
2) Damage or loss to third parties outside of a specific geographic area as specified in the insurance document
3) Loss or damage of two-wheeler by a driver under the age of 12 or without a driver’s license
4) Electrical or mechanical failure.
5) In cases where the bicycle is used for a third party vehicle for purposes other than those specified in the liability insurance document, for example. B. the use of a non-commercial two-wheele vehicle for commercial purposes
6) Losses or damages due to situations such as war, terrorist activities, riots, etc.

Which is the best third-party insurance for your bike in India 2019?

These are some of India’s leading third-party insurance for bike in 2019:
1) Bharti AXA
2) Bajaj Allianz
3) TATA AIG Insurance
4) HDFC Ergo
5) Reliance General Insurance
6) SBI General Insurance
7) New India Assurance

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