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Third-party bike insurance covers all financial losses suffered by a third-party or person following an accident caused by an insured two-wheeler. Here, the insurer covers all the expenses required to meet the resulting financial liabilities that occur due to them. In case of damage to a property, the insurer shall release ₹1 Lakh as compensation to the owner. 

 

Also known as Liability Only Insurance, third-party two-wheeler insurance was made mandatory under Section 146 of the Motor Vehicles Act, 1988. It is a basic risk coverage provided by the insurer and does not provide insurance protection to the bike or its owner.


It is a good idea to select an all-round bike insurance policy that provides coverage for third-party legal responsibility. This can also provide financial protection against losses brought on by natural or man-made events.

Key Features of Third-party Bike Insurance

Here are a few key features of third-party bike insurance.

  • Avoid legal consequences

  • Get financial coverage for third-party legal liability

  • Enjoy a zero documentation, online application process

  • Stay covered against unforeseen bike-related expenses

Bike Insurance Plans available on Bajaj Markets

Bike Insurance Partners

Incurred Claim Ratio (2022-23)

Premiums Starting at*

Buy Plans

SBI General Bike Insurance

98%

₹538

Check Plans

Bajaj Allianz General Insurance

98.54%

₹538

Check Plans

HDFC ERGO General Insurance

99%

₹538

Check Plans

Disclaimer: The premium rates are indicative. The actual premium that you may have to pay may change depending on various factors. Please check the prevailing premium rates before purchasing your bike policy.

How Does a Third-Party Two Wheeler Insurance Work?

The parties that may be involved in a bike insurance contract are described as follows:

 

  • First party: It is the party that owns the bike and drives it

  • Second party: The second party is the insurance company

  • Third party: The third-party refers to any person or property not associated with the first or second parties

 

If a third party is injured in an accident that was caused by the insured bike, all associated medical costs and hospitalisation fees are covered by the third-party bike insurance. The stated insurance also covers disability claims resulting from third-party damage injuries and third-party death claims stemming from the accident.

 

If a third party files a lawsuit as a result of the damages the insured bike caused, a third-party two-wheeler insurance policy will also cover the expense of the accompanying legal liabilities.

Reasons to buy a Third-Party Bike Insurance

A motorcycle third-party insurance policy offers the bike owner, financial and legal protection. This is against losses incurred by a third-party person or property involved in an accident with the insured bike.

Given below are the benefits of buying third-party bike insurance.

  1.  Cost-effective

    As regulated by the Insurance Regulatory and Development Authority of India (IRDAI), third-party bike insurance provides you maximum benefits with attractive and affordable premium rates.

     

  2. Quick and Easy Policy Purchase

    Most third-party two-wheeler insurance policies are available online with minimum documentation formalities.

     

  3. Financial Assistance and Legal Coverage

    Third-party bike insurance covers most financial and legal expenses arising from any third-party damage. 

     

  4. Personal Accident Cover

    The IRDAI has made Personal Accident Cover compulsory for all forms of automobile insurance coverage in India. This covers medical and hospitalisation costs in case of an accident. In the event of your unfortunate demise in an accident involving the insured bike, the aforementioned coverage also offers death benefit to your family.

     

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How to Buy a Third-Party Bike Insurance Policy Online?

The digital age has made all types of online transactions easier and faster. You can also buy third-party two-wheeler insurance instantly online. Here are the steps you need to follow to buy third-party bike insurance online.

  • Head over to the ‘Bike Insurance Premium Calculator’ page

  • Fill up the details by entering your two-wheeler registration number and mobile number

  • Click on the ‘Get Quote’ tab and see third-party bike insurance price listings

  • Enter all required details and choose a bike insurance plan that suits your needs

  • Pay your premium online according to the third-party bike insurance price

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How to Renew a Third-Party Bike Insurance Policy Online?

Renewal of your third-party two-wheeler insurance is a pretty straightforward process. Check your policy’s expiry date to avoid penalties and fines by following the steps given below:

 

  • Visit your insurer’s official website

  • Enter details like your existing insurance policy number, vehicle registration number and mobile number

  • Check your insurance renewal amount

  • Make the premium payment online

 

Your renewed bike insurance will be sent to you instantly

How to Claim Third-Party Insurance for a Bike?

In case of an accident, there are two possibilities. Either you may have caused the damage or have incurred it. In both cases, the third-party bike insurance claim procedure can be simple. These are explained below:

1. If you have caused the damage:

  • Click clear pictures of the damages caused due to the accident and note down all the required details

  • Inform your insurer about the accident immediately and act according to their instructions

  • Register an FIR at the nearest police station in case of a major accident

  • File a case at the Motor Accident Claims Tribunal Court with the help of a lawyer

  • Submit the required documents and details to the court

  • Share the court’s order with the insurer and get compensation for the expenses

2. If you are the victim

  • Take the insurance details of the third party involved in the incident and inform their insurance provider about the incident

  • Based on the information provided to the insurer, your case will be transferred to the Motor Insurance Claim Tribunal

  • Submit the required documents and details to the court

  • The court will decide and instruct the insurance company to pay the compensation amount

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What Is Covered and Not Covered

Inclusions

Exclusions

A third party who is wounded in an accident or who sustains an injury that leaves them physically disabled and prohibits them from returning to work may file a claim for medical expenses or lost wages.

Any damages to the insured two-wheeler

If there is third-party property damage, the insurer is obligated to pay up to Rs. 1 lakh in damages under the terms of the third-party two-wheeler insurance that was purchased for third-party protection.

Claims arising due to Contractual Liability

Under third-party bike insurance, insurers also offer compensation to the dependents of the owner or rider of the insured bike, if they die in an accident.

Damages or losses caused due to accidents that happened outside the prescribed geographical region in the insurance policy

In third-party bike insurance, if the owner or rider of the insured bike happens to sustain permanent total disability due to the accident, then that person is eligible for compensation. The compensation amount depends on the degree of disability.


The accidental losses caused due to illegal activities, speeding, riding someone else’s bike or riding under the influence of alcohol

 

Any damages caused directly or indirectly due to radioactivity from nuclear fuel or nuclear waste.

 

Accidental damages or loss incurred in connection with the invasion by foreign enemies, warlike operations, civil war, mutiny rebellion, military or usurped power.

Scenarios of Third-Party Bike Insurance Coverage

Below are some scenarios where third-party bike insurance coverage is applicable.

SCENARIO

COVERAGE

Injuries or fatalities caused by your covered bike to third parties

The policy will pay for any medical and hospital bills incurred by the third party. It also includes claims for disabilities and the death of a third party.

Damages to a third party's bike or property

The financial repercussions of these losses are covered by the third-party two-wheeler insurance for your bike

Legal consequences

The financial cost of legal responsibilities in case of an accident is covered by the third-party two-wheeler insurance policy

Third-party bike insurance is a legal mandate and acts as a safety net when it comes to the financial implications during a mishap. Injury or damage to a third party or property during an accident can not only result in financial losses but may also lead to further legal liabilities. In such cases, two-wheeler insurance comes in handy. 

 

You can check the bike insurance for third-party coverage prices online and choose the best insurer. Whether it is a third-party or comprehensive two-wheeler insurance plan, Bajaj Markets is the platform where you can find various insurance policies offered by different partners.

FAQs on Third-party Bike Insurance

What are some of the risks that your third-party bike insurance policies cover?

Some of the hazards covered by third-party bike insurance policies include

 

  • Death or injury to a third party

 

  • Any damage caused to a third party

 

  • Some policies may also include personal accident insurance.

How to check bike insurance details?

The Ministry of Road Transport & Highways website is accessible from the public domain. Simply input your bike's registration number on the internet to see your insurance status. Alternatively, you could also install the mParivahan App on your smartphone and access your bike’s insurance status.

Is online bike insurance valid?

Yes, third-party bike insurance coverage bought online or through a third party is just as legitimate as one that was bought in person.

 

Is two-wheeler insurance compulsory in India?

Yes, the Motor Vehicles Act requires all vehicle owners to purchase at least third-party insurance.

Are there any discounts available on bike insurance premiums?

If you had no claims during the previous policy year, you will be eligible to get NCB (No-claim Bonus) benefits of up to 50% upon policy renewal.

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