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Third Party Bike 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.

Third Party Bike Insurance Online

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.

How much is the Third Party Insurance Premium/Rate?

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
Rs. 482
More than 75cc but not more than 150cc
Rs. 752
More than 150cc but not more than 350cc
Rs. 1193
More than 350cc
Rs. 2323

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.

How to Differentiate Between Comprehensive and Third-Party Two Wheeler Insurance?

Below are the primary differences between comprehensive bike insurance and third party bike insurance.

Comprehensive Two Wheeler Insurance
  • Comprehensive bike insurance covers against financial liabilities for the third-party and own damage costs because of a mishap or an accident.
  • It provides various add-ons such as Engine Protection, Zero Depreciation, Roadside Assistance, Return to Invoice and so on.
  • The policy covers your bike against loss, damage and theft as well as another individual’s vehicle or property damage.
  • The premium amount is higher as compared to a third-party insurance policy due to its extensive coverage.
  • With the plans extensive coverage, it is a better choice if you need a complete cover for your bike along with add-on covers.
  • Third-Party Two Wheeler Insurance
  • Third-party bike insurance, a basic insurance plan, takes care of the damages done by the insured person's vehicle towards the third party and property.
  • It only provides Personal Accident Cover
  • The coverage provided is limited; the policy will cover you against only damage or loss towards the third-party and property.
  • It is pocket friendly as the coverage provided is limited.
  • As it offers limited coverage, it is a good choice for you if rarely ride your bike or if the bike is too old.
  • What is Covered by a Third Party Two Wheeler Insurance?

    • 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

    What is Not Covered by a Third Party Two Wheeler Insurance?

    • 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

    How to Claim Third Party Bike Insurance Online?

    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.

  • For the Insured Person:
    • 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.
  • For the Victim:
    • 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.

    Frequently Asked Questions

    • Q. What is third party two-wheeler insurance?
      • 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.

    • Q. What is the cost of third party bike insurance?
      • 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.

    • Q. How to buy third party two-wheeler insurance?
      • You can buy third-party two-wheeler insurance online at Coverfox by just following these steps:

        • Visit the website of Coverfox and select ‘Bike’
        • Feed-in the bike’s registration number or other details such as model, registration year etc., if you don’t know the registration number
        • Compare insurance quotes and choose the one the fits your needs
        • Make the payments online and your policy will be emailed to you
    • Q. Is having third party bike insurance mandatory?
      • 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.


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    Written By: Coverfox - Updated: 4th May 2021
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