Detailed Study of Third Party Two Wheeler Insurance

They say needing insurance is a bit like needing a parachute. If it isn’t there the first time, chances are you will not need it again. This funny analogy may sound grave but it is the foundation for Third Party insurance for two wheelers.

In order to safeguard the interests of a third party property or person, the Motor Vehicles Act (1939) mandated third party insurance for all vehicles to legally ply on the roads.

Coverage Details

Bodily injury, partial/permanent disability or death of the owner or driver of the insured vehicle and damage to third party property during the event of an accident are covered by Third Party Two Wheeler Insurance. Compulsory cover for owner cum driver ensures that an additional sum of Rs 1,00,000/- will be paid in the event of a fatality.

Third Party Insurance vs. Comprehensive Insurance

We live in an age where young men adore their beloved Royal Enfield’s, sometimes more than their significant others!

There is a key difference between comprehensive and third party two wheeler insurance. Third party insurance does not cover theft of or accidental damages to your two wheeler itself and so damage to the motorbike or scooter is not covered. HDFC ERGO offers a wide array of comprehensive insurance plans to choose from that will protect your cherished vehicle in the event of any accidental damages or theft.

The Highs and Lows of Third Party Insurance

With low third party two wheeler premium amounts and straightforward documentation and processing, Third Party insurance is affordable and ensures indemnity for any third party liability.

However, the major downside is that any accidental damage to motorbike is not covered and this could lead to a considerable expenditure on the part of the owner in case of vehicular damage.

The best fit for your insurance needs should consider many factors like claim settlement record, transparency in settlement process and customer service in the event of an accident.

HDFC ERGO boasts of an impressive claim settlement record, 24x7 customer supports, the cheapest online third party insurance options and complete transparency in payment and fairness in claim settlement processes, providing a holistic solution to all your two-wheeler insurance needs!

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