Knowledge Centre

Advantages of third party two wheeler insurance

Published on October 3, 2019. EST READ TIME: 5 MIN

Two wheeler insurance is a must and mandatory for every bike owner in the country. This helps in safeguarding and protecting the owner of the vehicle from road accidents and other such perils associated with motor vehicles. Being involved in a bike related incident can mean that you may have to spend a fortune on the treatment of not just yourself but also pay for the other party as well whom you might have harmed or have suffered losses.

Most people try to avoid buying two wheeler insurance, but given the adverse outcome of not having one is scarier. For those who find two wheeler insurance financially burdensome but still want to remain on the right side of the law, third party two wheeler insurance is only option. Basically, a third party two wheeler insurance policy comes in to play in case any third person or property is damaged as a result.

Usually the liability on the claim is unlimited according to the Indian government. The basic conditions under which the third party two wheeler insurance policies are liable to provide are

  • The person who is the occupant of the two wheeler vehicle (not hired) dies or suffers from bodily injuries

  • Any government property or any property apart from the vehicle gets damaged or destroyed. For the properties the liability is limited.

Third party two wheeler insurance policies are not valid if the accident occurs outside the geographical area or limits as mentioned in the policy document. The other condition under which the policy becomes invalid is, if the two wheeler vehicle is driven by someone other than the owner of the vehicle or the driver at the time of the accident.

Similar to other policies even the third party two wheeler insurance policies can be bought online. The online way which is also referred to as the ‘E - way’ is simpler and faster. This is because when opting to buy the third party two wheeler insurance policies online one need not fill long and tedious questionnaires and also need not conduct various meetings with the agent of the company representative.

Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales.

This blog has been written by

S. Gopalakrishnan | Motor Insurance Expert | 40+ years of experience in insurance industry

A veteran in insurance industry. S. Gopalakrishnan is a name to reckon with in the field of reinsurance, he has headed the Reinsurance department and has rich experience in other fields of motor insurance. He loves to share his opinion on latest topics in the insurance industry and how he can help people in safeguarding their assets using insurance products.

S. Gopalakrishnan recommends "HDFC ERGO for your vehicle insurance needs, it has always put customer’s interest at the forefront, with round the clock assistance to deal with emergency breakdown issues and hassle free claims process. You can be assured of complete and reliable guidance through the whole process".

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