- About Coverfox
We know you are very excited to ride your two wheeler through the city roads. And, why wouldnt you? After all, your bike reflects your personality. Which is why getting your two wheeler insured is the best thing to show your love and affection. This would cover bodily injuries or death of a person either accompanying you on the bike or on the road. Not only this, there are higher chances of the third party properties getting damaged due to accidents. But nothing to worry, you can cover all these types of risks by buying a "Third party Two Wheeler Insurance".
In short, third party bike insurance is nothing but a risk cover. In case of an unfortunate event, your insurance company would pay you for any legal liabilities. Section 146 of the Motor Vehicles Act, 1988, makes third party insurance mandatory for any vehicles plying on the Indian roads.
IRDA has standardized the two wheeler third party insurance premium rates with effect 1st April, 2017 as below:
|Condition Relating to Engine Capacity||Applicable Premium Rate|
|Up to 75 cc||Rs. 569|
|75- 150 cc||Rs. 720|
|150- 350 cc||Rs. 970|
|Above 350 cc||Rs. 1,114|
Well, the third party two wheeler insurance renewal is simple, fast and online with Coverfox. In short, you can renew it online instantly. Don't worry even if you have an expired policy. With minimal paperwork, you can renew it in minutes!
Coverfox sends a renewal notice much before the policy expiration date. You can visit our website Coverfox.com and make a payment via a debit/ credit card and even through net banking.
What is third party bike insurance?
Getting third party insurance is mandatory for your bike. In case of an accident, you would be legally and financially liable to the third party. However, keep in mind, it doesnâ€™t cover any damages and injuries that have occurred to either you or your bike.
Which bike insurance should I buy comprehensive or third party liability Insurance?
If you can invest money in financially protecting yourself from third party liabilities, then why not spend a little more on protecting your bike as well? Thus, choosing a comprehensive plan over a third party plan always makes more sense!
What are the additional covers in two-wheeler insurance?
Having add-on covers always serves as a blessing in disguise. The Nil or Zero Depreciation Cover lets you have a full claim on the value of the parts without deducting depreciations on the parts that are replaced after an accident. Depreciation takes a major part of your expenses. To make sure you escape that, opt for a zero depreciation add-on cover by paying a little extra premium.
Personal Accident Cover for Pillion Passenger protects the pillion rider as well. Accidents can cause grave injuries to both rider and co-passenger! So, in a way both carry equal risk. With the help of this add-on, pillion passenger can be compensated up to a certain amount for partial and permanent disability. The premium is slightly higher, but worth it!