Every two-wheeler vehicle owner in India should have third-party bike insurance to protect themselves against legal liabilities. This has become compulsory as per the Indian motor vehicles act ruled out by the Indian government. If you want to know more about third-party bike insurance and whether it is enough for you, keep reading!
What is third-party bike insurance
Third-party bike insurance is one of a kind insurance policy. In third-party bike insurance, you will get a financial shield to cover the third party's financial losses. For an instance, if any other person on road met with an accident with your bike, then under this policy you will get an amount to cover his or her losses.
In addition, if you make damage to any other vehicle while driving, the third party bike insurance policy will guard you by paying the amount on your behalf. Furthermore, third-party bike insurance offers no insurance cover for the rider of the bike. Also, this policy is not helpful when your bike is stolen or gets damaged during war or in a natural disaster.
Moreover, if you want to keep yourself safe in all conditions after buying a third-party bike insurance cover, then buy it along with a PA cover. PA cover is one of the most important with third-party insurance. Just in case you have serious injuries while riding, then you will be compensated by the insurer. Or if any mishap occurs, then the nominee of the policy will get additional financial support of 15 lac rupees.
Is it enough to buy third-party bike insurance?
Insurance cover is necessary for your bike. But you need to find the right insurance cover for yourself and your bike. If you buy a new bike from the showroom, you should have comprehensive insurance cover to guard yourself and your bike. This insurance policy will keep your vehicle safe in all conditions, whether it gets stolen or met with an accident. However, if your bike is 4 or 5 years old, you can select third-party bike insurance coverage.
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