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How to buy third-party insurance coverage online?

Considering the hectic traffic scenario, the dynamicity of Indian roads and the rising inflation, it has become crucially important to have a proper motor insurance plan in place to safeguard yourself and your vehicle.

Also, according to the government’s mandate under the Motor vehicles act, it is compulsory to have proficient third-party bike insurance to legally drive in India. Buying an online third-party bike insurance policy is one of the quickest and easiest ways to protect against third-party liabilities. Let’s get some insights on how to purchase bike insurance coverage online. Keep reading to know more!

How to buy third-party bike insurance online?

Follow these steps to buy third-party bike insurance online without any hassle. 

  • Visit the website of your insurance provider. 
  • Search for “Third-Party Bike Insurance.”
  • Provide your two-wheeler vehicle number.
  • If you don’t have the vehicle number, give the bike’s registration year and model number.
  • Enter your details such as mobile number and name. 
  • Select the bike insurance policy that suits your needs. Make sure to check for add-on options if you need any specific coverage additionally.
  • Then you will receive a quote from the insurance provider regarding the premium amount based on the policy and make of the vehicle. 
  • Once you are okay with the pricing, choose the tenure period of your policy. Most of the buyers opt for 1 year to 3 years tenure.
  • Make the payment for the selected bike insurance policy. 
  • Get the policy document via email ID. 

By following the above-mentioned steps, you can easily purchase the best third-party bike insurance plan online right from the comfort of your home. 

Features of third-party bike insurance policy:

Third-party bike insurance is a mandatory motor insurance policy covering third-party financial and legal liabilities caused due an accident. Here are the features of the bike insurance policy:

  • It provides compensation for damages caused due to an accident.
  • The insurance plan offers a very nominal premium.
  • It is a mandatory insurance cover that a vehicle owner must buy.
  • The insurer pays for accidental injuries, third-party damages, and loss of life.
  • All the legal liabilities that arise due to the accident are covered by this Third-party bike insurance plan.
  • Offers personal accident cover for the car driver. 

Benefits of third-party bike insurance policy:

  • Helps in complying with the laws.
  • Relief from financial pressure
  • Low-premium rates
  • Cost-effective insurance plan
  • The quick and seamless buying process
  • Offers financial assistance against legal liabilities.

Coverage included under the third-party bike insurance:

Here are the inclusions given in the third-party bike insurance:

  • Property damage: 

The bike insurance covers the loss of up to Rs. 7.5 lakhs if your vehicle damages the third party’s house. 

  • Personal loss:

The medical cost gets covered if a third party suffers injuries caused due to an accident. In case of death, the plan covers appropriate compensation. 

  • Personal accident cover for owner-driver:

Personal injuries, death, and permanent disabilities with coverage of up to Rs. 15 lakhs come included under the personal accident cover.

Things not covered under the third-party bike insurance:

Certain situations do not get covered under third-party bike insurance.

  • The bike insurance policy does not cover damages sustained by the insured bike, such as fire damages, war, or loss due to human and natural calamities. 
  • It does not cover any liabilities if the driver drives the bike under the influence of drugs or alcohol. 
  • It does not cover the injuries if the driver has an invalid license.
  • It does not cover the injuries or damages caused outside the geographical limit.
  • It does not cover the loss caused while using the bike for illegal activities. 
  • It does not cover losses arising out of contractual liabilities.
  • The policy does not cover losses if individual other than the bike owner or designated driver drives the bike.
  • The third party bike insurance does not cover the accrued substantial loss.
  • The bike insurance does not cover damages caused by a nuclear weapon or radioactive contamination.

How to claim third-party car insurance?

The policyholder must follow these steps to get compensation from the insurance provider.

  • The policyholder must inform the insurance company about the accident before the stipulated time.
  • The insurance company may reject the claims if the time gets exceeded.
  • The third party should present the relevant evidence to claim compensation. 
  • The insurance holder must fill out an FIR reporting the incident to the closest police station.
  • You must submit the FIR to the insurer during the claim filing. 
  • The insurance holder must follow the steps carefully and submit the required documents.
  • The insurer will send a surveyor to check and assess the damage. 
  • You will receive the claim based on the report. 
  • Extra tip: Always settle for the loss or minor damage out of the court since the procedure for registering the FIR is always time-consuming. 

Purchase the best Third-party bike insurance today!

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