Third Party Two Wheeler Insurance

Third-party two-wheeler insurance cover is one of the most basic kinds of two wheeler insurance . It is crafted to safeguard you against all third party liabilities caused by an accident involving your two-wheeler. It is compulsory that every two-wheeler owner in India has to have third-party two-wheeler insurance to abide by the Indian Motor Vehicles Act, 1988.

Do you want to buy a third-party two-wheeler insurance policy? We have got your back! Buy third party two-wheeler insurance online at Coverfox by following these simple steps:

• Visit the website of Coverfox and select ‘Bike’
• Feed-in your bike’s registration number.
• Provide your name and mobile number and click on get quotes.
• Now compare the insurance policy provided by different insurers and choose the one that ticks all your boxes.
• Now, you can pay for the selected bike insurance policy online.
• Your policy documents will be sent to you via email.

What is Third Party Two Wheeler Insurance Premium Calculator?

A third-party bike insurance premium calculator is an easy to use online tool that helps you to get a third-party two-wheeler insurance premium for your bike. You just need to provide details of your two-wheeler such as the make and model, location, registration number of your bike and the tool will do the rest. Based on the information provided, the premium calculator will generate the premium amount payable for your bike.

The Insurance Regulator and Development Authority of India (IRDAI) decides the third-party two-wheeler insurance premium/rate based on the bike's engine capacity. IRDAI keeps changing the third party two-wheeler insurance premium based on the previous year’s TP claim data and other factors. Below is the table with the third party two-wheeler insurance premium rates, according to the latest announcement released by IRDAI.

Note: The above mentioned third party two-wheeler insurance rates are for the financial year 2019-2020 and are effective from 16th June 2019 till further notice from IRDAI.

• Third-party bike insurance covers any kind of bodily injury or death of a third party due to your two-wheeler.
• The court of law decides the compensation amount.
• If the third-party incurs any property damage due to your two-wheeler, it is covered up to a sum of 7.5 lakhs as per the IRDAI norms

• Any kind of damage to your bike
• Damage/loss/liability borne due to an accident outside the designated geographical area or due
• Damage/loss/liability borne due to an accident by the third party that may have resulted from a consequential loss
• Damage/loss/liability incurred due to war or any warlike operations and radioactive contamination or nuclear weapons
• Claims made out of any contractual liability

Are you confused as to how to claim third party two-wheeler insurance online? Well, a third-party two-wheeler insurance claim can be made by the insured as well as the victim. Read on to know-how.

• Take clear pictures of the damaged parts of your bike.
• Take down all the necessary details of the damaged vehicle or vehicles.
• Look for any eye-witness of the accident; if any, note down their contact details.
• Inform your insurance provider immediately about the accident and follow their instructions.
• File a First Information Report (FIR) at the police station of that jurisdiction.
• With the guidance of a lawyer, register a case at the Motor Accident Claims Tribunal Court
• Be present at the court proceedings, provide the details of the incident, and submit the required documents.
• Give the court’s order to the insurance provider and get the expense covered of the bodily injuries and property damages.

• If you are the victim, you must take down the details of the third-party involved in the accident or a mishap and inform the insurer about the incident.
• Based on the information provided, the insurance provider will transfer your case to the motor insurance claim tribunal.
• You have to be present in the court proceedings and provide all the documents required, a copy of the FIR, and proofs related to the incident.
• Depending on the facts, the tribunal will decide on the compensation amount to be paid.