What is Third Party Bike Insurance?
A Third-Party bike insurance is the most basic type of two-wheeler insurance policy, that helps cover for any damages and losses your bike could cause to a third-party person, property or vehicle, such as in the case of an accident or collision. The same is mandatory by law, without which you could be liable for a fine of Rs 1,000 to Rs 2,000.
What’s Covered in Third Party Bike Insurance?
What’s not Covered in Third Party Bike Insurance?
It is equally important to know what’s not covered in your Third-party bike insurance policy so that there are no surprises when you make a claim. Here are some such situations:
In the case of a Third party bike insurance policy, damages to own vehicle won’t be covered.
Your bike insurance won’t cover for you in situations where you were riding drunk or without a valid two-wheeler licence.
If you hold a learner’s licence and were riding your two-wheeler without a valid licence-holder on the pillion seat- then your claim in those situations won’t be covered.
Some situations are covered in add-ons. If you haven’t bought those two wheeler add-ons, the corresponding situations will not be covered.
Key Features of Third Party Bike Insurance by Digit
| Key Features | Digit Benefit |
|---|---|
| Premium | Starting from ₹752/- |
| Buying Process | Smartphone-enabled process. Can be done in 5 minutes! |
| Personal Damages to Third-Party | Unlimited Liability |
| Property Damages to Third-Party | Up to 7.5 lakhs |
| Personal Accident Cover | Up to 15 lakhs |
| Personal Accident Cover Premium | ₹330/- |
Third Party Bike Insurance Premium
Unlike a Comprehensive two-wheeler insurance, the bike insurance premium for a third party insurance policy is predefined by the IRDAI. The premium prices for the same are primarily dependent on the cc of your two-wheeler. As per the latest update by the IRDAI, following are the two-wheeler premium charges across various cc ranges. Check the bike insurance premium calculator.
| Two Wheelers with engine capacity | Premium rate |
|---|---|
| Not exceeding 75cc | ₹482 |
| Exceeding 75cc but not exceeding 150cc | ₹752 |
| Exceeding 150cc but not exceeding 350cc | ₹1,193 |
| Exceeding 350cc | ₹2,323 |
How to Claim Third Party Insurance for Bike?
- The Third-Party has to file an FIR and obtain a charge sheet. Give us a call at 1800-103-4448.
- If there’s a compensation, we take care of it on your behalf.
- And if there’s no violation of terms, we will try for a non-monetary settlement on your behalf. If the situation arises, we will represent you in court.
- Most importantly, if you’ve been a good citizen and have admitted your fault for any kind of negligence, your Digit Third Party cover will still hold good.
- In case of a personal accident-related claim, all you need to do is call us at 1800-258-5956 and we’ll help you out.
Important Considerations When Making a Third Party Bike Insurance Claim
- The third-party person filing the FIR for the said claim must ensure he/she has suitable evidence.
- It’s important to note that, your insurer and the police need to be contacted as soon as possible. You can’t make the claim days after the incident!
- As per the rules and regulations of the IRDAI, it is up to the Motor Accident Claims Tribunal to decide on the claim amount. While there’s no upper limit on personal damages to a third-party, there is a limited liability of up to Rs 7.5 lakhs in case of damages and losses caused to a third-party vehicle or property.
What our customers have to say about us
I am very appreciate with go digit insurance Mr Gagandeep Singh (Surveyor Amritsar) who settled my two wheeler bajaj platina claim in same day.Thanks to Go digit insurance and Gagandeep Singh for there services.
Super smooth service by digit , I registered clam of my bike and I got my with in 2 days . Mr Nirmal helped me in every way for claim intimation and also the process was very simple 👏👏👏✌️
Digit Insurance is the best Insurance company in India. Love the way of work. Everything is just so simple . I got claim for my Bike . Really happy today. Thank you so much Go Digit and Abhishek Sir from Digit.
Advantages of a Third Party Bike Insurance
Safeguards you from traffic violation penalties as the new fine chargeable on riding without at least a third-party insurance is at least Rs 2,000, while the subsequent fine for the same is Rs 4,000!
Protects you from losses and liabilities that could arise if you hurt a person, property or vehicle while riding your two-wheeler.
Protects you in the unfortunate case where you get yourself hurt while riding your two-wheeler
You will receive 24x7 support when you buy a third party bike insurance online so no matter what, your best friend a.k.a bike insurer will always be there for you!
Allows you to comply with the law, and ride legally on all Indian roads.
Reduces your mental stress, as you’re assured that in the case of any mishaps you may face, you’ll be covered.
Disadvantages of a Third Party Bike Insurance
It doesn’t cover for the losses caused in case you end up accidentally damaging your own two-wheeler!
It doesn’t cover for you in the case of natural calamities such as floods, fires, cyclones and other nature furies that may cause damages and losses to your two-wheeler.
You can’t customize your third party two-wheeler insurance policy with additional features such as add-ons and covers like the zero-depreciation cover, engine and gearbox protection. You can only do when you opt for a comprehensive two-wheeler insurance.
Types of Bike Insurance Plans in India
| Third Party | Comprehensive |
Damages/Losses to own two-wheeler due to an accident |
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Damages/Losses to own two-wheeler in case of fire |
|
Damages/Losses to own two-wheeler in case of a natural calamity |
|
Damages to Third-Party Vehicle |
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Damages to Third-Party Property |
|
Personal Accident Cover |
|
Injuries/Death of a Third-Party Person |
|
Theft of your scooter or bike |
|
Customize your IDV |
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Extra protection with customized add-ons |
|
| Get Quote | Get Quote |
Know more about the difference between comprehensive and third party two wheeler insurance
Third Party Bike Insurance for Popular Models in India
Two Wheeler Insurance for Popular Brands in India
FAQs related to Buying Third Party Insurance for Bike
Can I buy a standalone Third Party Insurance for Bike?
Yes, you can. However, it is always advisable to buy a comprehensive bike insurance cover to ensure you are covered from anything and everything.
If I claim my Third Party Bike Insurance, will I lose my NCB?
No, you won’t. Your NCB or No Claim Bonus remains intact.
Is Third Party Bike insurance mandatory?
Yes, having at least a 3rd party bike insurance policy is mandatory under the Motor Vehicles Act, 1988.
What if someone else was driving my bike during the time of accident, will Digit cover for my losses?
Yes, irrespective of whoever was driving the bike at the time of the accident, Digit Insurance will cover your losses. But if the driver didn’t possess a valid license they won’t be covered, and your claim can be nullified.
Is Third Party Bike Insurance enough for my bike?
Hey, are you alright with paying for all the damages to your bike? You know that can cost you a bomb. Third Party, by definition, only covers the Third Party, i.e. the other people affected by your accident. A Comprehensive Policy protects damage that is not covered by Third-Party Cover.
What happens if I meet with an accident in a different city/ state?
Digit Insurance has you covered irrespective of which city or state the incident happens.
Can I avoid taking the third party two wheeler insurance?
No, you can’t really avoid taking a third party insurance for two-wheeler since it’s mandatory by law to at least have an insurance policy that covers for third-party damages. In this case, it’s essential you at least have a Third Party Two Wheeler Insurance or even better, a Comprehensive Two Wheeler Insurance Policy. Anyone riding without a valid two wheeler insurance policy is liable for a fine of Rs 2,000 and subsequently, a fine of Rs 4,000!
What is the maximum compensation offered as part of the third party bike insurance policy?
As part of the Third-Party two wheeler insurance policy, the maximum compensation depends on the affected party. Personal Damage to Third-Party Person - Unlimited Liability. Property Damages to Third-Party Vehicle or Property - Up to Rs 7.5 lakhs
What documents must I submit when raising a third party bike insurance claim?
No documents needed. However, the third-party affected must file a FIR at a nearby police station.
What happens if I am caught riding without a valid third party bike insurance policy?
You will be liable to pay a fine of Rs 2,000 for the first time violation and Rs 4,000 for being caught the second time.