Third-Party Bike Insurance

Imagine accidentally damaging someone's property or injuring them while riding your bike. Third-party bike insurance acts as a financial safety net in such situations. It covers the expenses arising from damages to a third party's vehicle or property. You can file this claim if the accident was caused by your bike. The policy also covers injuries or, unfortunately, death of a third-party involved in the accident.

This mandatory insurance provides financial protection for others, ensuring they're not left paying for the consequences of an accident you caused. Remember, it doesn't cover any damage to your bike, so consider exploring comprehensive policy instead of third-party bike insurance from Royal Sundaram for complete protection.

Why You Need Two-Wheeler Third-Party Insurance in India

Riding a bike in India provides freedom and convenience, but it also comes with responsibilities. One crucial responsibility is ensuring you have two-wheeler insurance for third-party cover. This mandatory insurance plays a vital role not only in safeguarding your finances but also in ensuring the well-being of others on the road.

Here's why having two-wheeler third-party insurance is essential:

• Financial Protection: Accidents can happen unexpectedly, and even a minor collision can cause significant damage to a third party's vehicle or property. Third-party insurance covers these expenses, saving you from financial burden and potential legal hassles.
• Legal Compliance: Riding a bike without valid two-wheeler third-party insurance is illegal in India. Traffic authorities can impose hefty fines, and you might even face legal repercussions if you are involved in an accident without proper insurance.
• Peace of Mind: Knowing you have a safety net in place if an unfortunate event occurs allows you to ride with greater peace of mind. You won't have to worry about the financial implications of causing damage or injury to others.

While third-party insurance doesn't cover damage to your bike, it provides a crucial layer of protection for others on the road. Remember, responsible riding and valid two-wheeler third-party insurance can help ensure a safe and enjoyable riding experience for everyone.

Benefits of Third-Party Bike Insurance:

• Financial Protection: Covers expenses for damages to a third party's vehicle or property caused by your bike in an accident.
• Legal Compliance: Mandatory by law in India, avoiding fines and legal issues.
• Peace of Mind: Provides a safety net in case of an accident, allowing you to ride with less worry.
• Affordable: Generally cheaper compared to comprehensive insurance, making it accessible for various budgets.
• Easy to Purchase: Available online and through various insurance providers, simplifying the process.
• Quick Claim Settlement: Streamlined claims process for faster resolution in case of an accident.

Coverage Options for Third-Party Bike Insurance

Bike insurance online service for third-party cover in India offers a straightforward coverage structure, typically encompassing the following:

• Third-Party Property Damage: This covers the expenses incurred for repairing or replacing a third-party vehicle or property damaged by your bike in an accident. This could include cars, scooters, bicycles, shops, or any other property affected by your collision.
• Third-Party Bodily Injury: This covers the medical expenses and any compensation awarded to a third-party who suffers injuries due to an accident involving your bike. This includes individuals in other vehicles, pedestrians, or cyclists.
• Third-Party Death: In the unfortunate event of a third-party fatality caused by an accident involving your bike, this coverage helps compensate the deceased's family as per the legal guidelines.

What's Included And Excluded In Third Party Bike Insurance?

Included in Third-Party Bike Insurance	Excluded from Third-Party Bike Insurance
Liability coverage for third-party injury or death	Damage to the insured bike
Liability coverage for third-party property damage	Personal injury or medical expenses of the insured
Legal defence costs in case of a lawsuit	Theft of the insured bike
Coverage for passengers in the insured bike	Own damage to the insured bike
Third-party injury or death caused by the insured bike	Accessories or customisation coverage
Third-party property damage caused by the insured bike	Depreciation of the insured bike
	NCB (No Claim Bonus) benefits
	Consumables coverage
	Engine protection cover

Third-Party Bike Insurance Cost

Understanding the cost of third-party bike insurance is crucial before purchasing a policy. Here's a breakdown of the key points:

• Premium Determined by Engine Capacity: The Insurance Regulatory and Development Authority of India (IRDAI) sets the third-party premium based on your bike's cubic capacity (CC). Here's a sample of 2024 one-year policy rates: ₹538 for engine capacity less than 75 CC, ₹714 for more than 75 CC but lower than 150 CC, ₹1,366 for more than 150 CC but lower than 350 CC, and ₹2,804 for engine capacity exceeding 350 CC.
• Renewal Premiums: Renewal premiums for existing policies might vary depending on factors like the bike's make and model and any additional coverage chosen.

How to Claim Third-Party Bike Insurance with Royal Sundaram

In the unfortunate event of an accident involving your bike and causing third-party damage, here's a guide on claiming third-party bike insurance with Royal Sundaram:

Immediate Steps:

• Inform Royal Sundaram Immediately: Contact their customer service hotline or use their online claim intimation portal.
• Gather Necessary Details: Have your policy details, contact information, and a brief description of the accident readily available.

Important Reminders:

• Keep the original registration certificate, driving licence (of the driver involved), and a copy of the FIR (if applicable) ready for the surveyor.

Claim Submission Process:

• Complete the claim form: Ensure you update your Aadhaar and PAN details if required.
• Submit the required documents: This includes the claim form, vehicle registration certificate and driving licence copies (originals for verification), FIR copy (if applicable), PAN card copy (for claims exceeding ₹1,00,000), and cash bill/invoice (for non-cashless claims).
• Await claim processing: Royal Sundaram will arrange for a survey and, if approved, a cashless repair at a network garage.

Why Choose Royal Sundaram for Third-Party Bike Insurance?

Royal Sundaram stands out as a reliable choice for your third-party bike insurance needs. Our online platform allows for easy purchase and renewal of your policy. We boast a vast network of cashless garages for convenient repairs. And Royal Sundaram is a name known for its smooth and efficient claim processing. We prioritise providing excellent customer support throughout your insurance journey. For a quick, reliable, and hassle-free third-party bike insurance experience, consider us. We can help ensure you're financially protected while riding with peace of mind.