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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:
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.
|Engine Capacity of the Bike||Third-Party Bike Insurance Premium Rates|
|Not more than 75 cc|
|More than 75cc but not more than 150cc|
|More than 150cc but not more than 350cc|
|More than 350cc|
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.
Below are the primary differences between comprehensive bike insurance and third party bike insurance.
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.
Third-party, two-wheeler insurance policy, provides cover for the legal liability and cost of the damages or injuries incurred by a third party and property because of a mishap caused by your bike.
IRDAI provides the third party two-wheeler insurance premium/rate to be charged by all insurers based on the bike's engine capacity. You can check the section on How much is the Third Party Insurance Premium/Rate? above to know the current applicable premium rates.
You can buy third-party two-wheeler insurance online at Coverfox by just following these steps:
YES, According to the Motor Vehicle Act 1988, bike owners should at least have a third party bike insurance policy if they want to drive their bike on Indian roads.
Disclaimer: The above mentioned prices are for a 2 year old Hero Honda Karizma R 223 CC, registered in Navi Mumbai & previous policy has expired.