73052 34433
Customer Self ServicesTwo Wheeler Third Party Insurance | Buy Bike Insurance Online | Chola MS
What is Third Party Bike Insurance?
Third Party Bike Insurance is a risk cover against legal liabilities in case of an unfortunate event. Most accidents involve a third party and paying for damages caused by your two wheeler to other people or property can prove to be expensive and stressful. Thus, third party insurance is mandatory for all vehicles plying on Indian roads. A Two Wheeler Insurance also covers you for damages caused to your two wheeler by uninsured drivers.
Benefits of Third Party Bike Insurance
Financial Assistance - Third-party bike insurance provides financial assistance by covering your liability for damages caused by your insured two wheeler to a person, property or vehicle. Paying for all of these costs from your own pocket is a huge obligation otherwise.
Easy Online Processing - Buying a third-party bike insurance online is easy and requires just a few documents. The processing is quick and hassle-free because it doesn’t cover your insured vehicle.
Affordable Option - Two wheeler third party insurance is cheap compared to other insurance covers and add-ons. You get a higher risk cover at a lower premium rate.
Peace of Mind - Owning third party two wheeler insurance puts your mind at rest and prepares you to deal with events that may cost you financially and prove to be very stressful without insurance.
Getting involved in two-wheeler accidents that include a third party can often result in having to pay for their injuries or property damages which can be financially stressful. With third-party bike insurance, you are covered against expenses for the third party’s damages and injuries, as well as damages to your two-wheeler caused by uninsured drivers.
Third-party insurance is also mandatory for all vehicles operating on Indian roads.
There are various 3rd party bike insurance benefits for the insured, such as:
- Financial Assistance - The policy provides you with cover against damages and injuries caused to another person due to your insured two-wheeler vehicle.
- Easy Online Processing - The purchase of third party bike insurance can be completed quickly with very little documents required. Considering it doesn’t cover your insured vehicle, even the processing is smooth and hassle-free.
- Affordable options - Lesser premium for higher risk coverage. The two-wheeler third party insurance is a lot more affordable than most insurance covers and add-ons.
- Peace of Mind - Third party bike insurance helps you live life more peacefully, preparing you to deal with an unfortunate event that could, otherwise, cause you a huge financial burden and mental stress.
The comprehensive third party bike insurance comes into effect in certain situations, such as:
- Third-party death or bodily injuries
- Property damage to the third party
- Death of insured two-wheeler’s owner/driver
- Permanent total disability of insured two-wheeler’s owner/driver
These key features of third party bike insurance provide two-wheeler drivers/owners a stress-free experience. While third-party insurance is a big shield of safety for such unfortunate events, it is important to be mindful of other vehicles and drivers on the road. Drive safe, drive responsibly!
What does your Third Party Bike Insurance policy give you?
Events during which a comprehensive third party two wheeler insurance comes into force include -
Third Party Bike Insurance Frequently Asked Questions
All you need to know about two-wheeler third party Insurance at Chola MS
Third party bike insurance provides cover against legal obligations that may arise from damage to a third party (person or property). It doesn’t cover you for damage or injuries that may affect you or your two wheeler.
Third party two wheeler insurance is cheaper compared to a comprehensive motor insurance policy because it only protects you from third party liabilities. However, additional protection for your own bike is a good investment to make with comprehensive insurance.
Add-ons in a two wheeler insurance policy are like top-ups that provide timely assistance and benefits in unfortunate events.
Zero/Nil Depreciation Cover: This cover allows you to fully claim the value of the parts without depreciation deduction on parts that may have been replaced after an accident. You need to pay additional premium for this cover wherein the insurance company provides cover for expenses of spare parts and depreciation value.
Passenger Cover: In a standard policy, the rider is covered against death and disability. An additional cover for passenger will provide cover for the pillion rider too. Compensation to the co-passenger is provided in case of death, partial or permanent disability. Passenger cover comes at a slightly higher premium but is very beneficial.
Medical Cover: This medical add-on cover helps fund all kinds of medical treatment related to accidents on your two wheeler.
Accessories Cover: This add-on cover provides cover against any damage or loss of additional high-end electrical and non-electrical accessories present on your two wheeler that you may want to insure due to their value. To avail this add-on you need to provide an estimated total cost of the accessories at the time of purchase of policy.
You can contact the insurance company over phone for cancellation of policy and follow it up with a 7-day notice to the insurance company in writing. Make sure you have the original policy document and any other alternative two wheeler insurance policy that you want to proceed with. Send scanned copies of these documents by email or hand over physical copies of the same at the nearest branch office.
A zero depreciation add-on provides Comprehensive Two Wheeler Insurance with considering the depreciation of the two wheeler and its parts. Zero depreciation cover is usually opted for new cars.