It is crucial that you obtain bike insurance online if you ride a motorcycle in order to comply with the law. You will be financially protected against a range of accidents if you choose a comprehensive two-wheeler insurance coverage like those provided by Bajaj Allianz General Insurance. These misfortunes might be anything from a two-wheeler being stolen to an accident or even natural disasters.
Given the significant risks involved with riding two wheels in and around cities, selecting the right type of bike insurance for your two-wheeler is essential.
We’ve outlined the advantages and restrictions of both third-party and comprehensive bike insurance so you can compare your options and decide wisely. This makes it easier for you to choose the proper bike insurance and also make sure to take steps on how to renew bike insurance.
You can select from two different types of insurance policies for your two-wheeler.
Recognize the Difference
According to the Motor Vehicles Act of 1988, third party insurance for motorcycles is a requirement. It will cover the monetary losses incurred as a result of damage to another person, vehicle, or piece of property. The second form is two-wheeler comprehensive insurance, which combines third party and own liability coverage. This means that it will financially compensate you for both your losses and the damages you cause to a third party.
This policy gives financial assistance for all damages to your car and vehicles owned by third parties. You must be informed of the benefits associated with each, as well as the features and exclusions that each entails.
Table of Contents
| Third party insurance | Comprehensive two-wheeler insurance |
| provides coverage for financial losses suffered as a result of damages
caused to another individual |
Covers financial loss from damage caused by accidents |
| Covers financial loss incurred in damages Covers financial loss incurred in sabotage or
caused to another vehicle |
Covers financial loss from sabotage or vandalism |
| covers monetary loss brought on by a fire
to property owned by a third party |
Covers monetary loss brought on by a fire |
| Covers monetary loss brought on by theft or
harmful activity |
|
| Covers financial loss suffered for car as a result of disruptions like riot
caused by terrorism. |
|
| Covers monetary loss sustained as a result of damages from natural disasters like flood,
various earthquakes |
The Exclusionary Table
| Self injury | Damage due to regular wear and tear |
| Damage to vehicle | Damage due to mechanical or electrical Breakdown |
| Damage caused due to theft or sabotage | Damage caused when riding without proper
license |
| Damage caused due to Fire r natural calamities | Riding under the influence of alcohol or
drugs |
| Damage due to wear and tear | Inactive Policy |
| Damage due to mechanical or electrical Breakdown | |
| Damage due to civil disturbances |
The following are some advantages of third-party insurance:
- Protects against third-party property and life damages
- Covers passing away or disability of the driver
- Lower premium than other insurance, on average
- Simple documentation process
Comprehensive two-wheeler insurance benefits include
- Following an accident, vehicle repair and upkeep
- Protection from rider passing away or incapacity and personal accident cover in bike insurance
- Protection from property damage caused by third parties
- Coverage of injured rider’s medical costs
- Calculator for Two-Wheeler Insurance*
You should be aware that utilising the bike insurance online calculator at Bajaj Allianz General Insurance to figure out your two-wheeler insurance premium is now simpler than ever before. To get rates on the several insurance plans that are available to you, all you have to do is input the registration number of your bike. You can learn all about our privacy policies and be sure that we will never disclose your personal information with a third party.
* Standard T&C Apply
** Currently, there are 2 tax regimes in India – new and old. To get the tax benefit you desire, choose the correct one after consulting an expert. You can opt for a regime change during the next financial year.
# Visit the official website of IRDAI for further details.
## All savings are provided by the insurer as per the IRDAI-approved insurance plan. Standard T&C apply
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Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.