In India, two-wheelers such as scooters, bikes, etc. are considered as one of the most important modes of daily commuting. Thus, the more the usage of the vehicle, the more will be its repair cost. At times, this cost can turn out to be very expensive if the vehicle is not insured with an adequate two wheeler insurance. Two wheeler insurance is a type of insurance policy that offers financial cover for two-wheelers in case of unfortunate events like theft, accidental damage, etc. There are two types of bike insurance policies available in the market. One is comprehensive bike insurance policy and the other is third-party insurance policy.
A third-party insurance policy is basically a liability only policy that covers all third party liabilities. As per Motor Vehicles Act, it is mandatory to have third-party insurance policy for the vehicles on road. This insurance policy does not provide any benefit to the policyholder.
Listed below are the things covered under third-party bike insurance:
On the other hand, comprehensive bike insurance policy is a type of insurance policy that covers the damages caused to both, your own vehicle and the third-party. You might have to pay a little more to buy this insurance policy, but it’s worth it as it protects both your vehicle and third party against all the damages.
As you can see, when we compare third party insurance vs comprehensive insurance, then each stand mighty in their own terms. Go for third party insurance if you want to cover injury, death or property damage to third party and comprehensive plan if you are looking to cover both your vehicle and third party. Besides, for those who are looking to buy bike insurance online, go for Royal Sundaram; it offers comprehensive two wheeler insurance policies at affordable prices.
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