Bajaj Allianz Third Party Bike Insurance
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Bajaj Allianz Third Party Bike Insurance
Bajaj Allianz General Insurance is one of the leading insurance companies that has provided third party bike insurance to thousands of people over the years. It shields its policyholder from all the financial and legal liabilities of the third party arising due to damage caused by the insured’s bike.
Bajaj Allianz General Insurance provides a basic package under third party bike insurance plan. It is a cost-effective way to deal with unforeseen events in life without any worries. This insurance provides coverage for the damage of property or vehicle, bodily injuries, disability or loss of life of the third party. It provides you with freedom from stress caused due to the unpredictable events of life.
Bajaj Allianz Third Party Bike Insurance vs Comprehensive Bike Insurance
Third Party Bike Insurance
Comprehensive Bike Insurance
Third party insurance policy provides the owner of the two-wheeler protection against the third party liabilities which include damage to the property of the third party, bodily injuries, demise etc. that may arise during an unpredicted event or mishap. This type of two-wheeler insurance policy is compulsory for the two-wheeler owner to have according to the Motor Vehicles Act, 1988.
A comprehensive two-wheeler insurance policy is a holistic coverage policy. It provides an all-rounded coverage that provides compensation and coverage to the policyholder against the damages of the two-wheeler and third party liabilities that may happen during an unforeseen event or mishap.
Nature of Requirement
It is a statutory compulsion under the Indian Motor Tariff.
It is optional for bikes and the choice of purchasing it depends on the owner.
Since this is a basic coverage policy hence no add-on cover can be availed along the third party two-wheeler insurance policy.
Under a comprehensive two-wheeler insurance policy one can avail add-on covers along the policy. Some most common add-on covers are Zero Depreciation Cover, Engine Protection, Roadside Assistance, Personal Accident Cover etc.
As limited coverage is provided, third party two-wheeler insurance policies are quite affordable.
Comprehensive Insurance is expensive as compared to third party insurance because extensive coverage is provided under this type of insurance policy.
What All Is Covered Under Bajaj Allianz Third Party Bike Insurance Plan?
Bajaj Allianz Third Party bike insurance provides coverage for the following:
- Death or bodily injuries to a third party that happen due to an accident involving the policyholder's two-wheeler.
- Property damage to the third party.
- All expenses incurred in accordance with the insurance company’s written consent.
- Any other person driving the two-wheeler but only with the consent of the policyholder.
- Personal accident cover for the policyholder or the driver directly connected to the insured two-wheeler. The following shall be covered under such circumstances:
- Accidental Death of the policyholder/driver
- Loss of limbs or sight of the policyholder/driver
- Total or permanent disability caused due to an injury
What All Is Not Covered Under Bajaj Allianz Third Party Bike Insurance Plan?
A third party bike insurance policy is necessary to be carried by every bike owner. Being a basic insurance cover, it provides limited insurance coverage. Below are some crucial points which are not covered under the third party bike insurance policy:
- Cost of damages to the policyholder’s two-wheeler.
- An injury to policyholder/driver regardless of the injury during an accident that does not involve a third party.
- Damages to the two-wheeler may arise due to regular wear and tear or natural calamities.
Key Benefits of Purchasing Bajaj Allianz Third Party Bike Insurance
Although a third party bike insurance policy is mandatory to be owned by every two-wheeler owner, it may offer limited coverage but can be very beneficial in times of crisis. Below mentioned are some benefits of purchasing a Bajaj Allianz Third Party Bike Insurance policy:
- Legal and Financial Assistance: Third party two-wheeler provides a compensation for the policyholder's legal liabilities in the event of death/disability to any third party and any damages to property of the third party and this type of policy also provides monetary assistance in difficult times. In such scenarios legal and financial burden on the policyholder is eased with the help of a third party insurance policy.
- Peace of Mind: This type of two-wheeler insurance policy gives the policyholder a sense of peace of mind. Having this policy will give the policyholder a peace of mind that in case of a mishap he/she has legal and financial assistance and the traffic policy would not penalise him for not having a third party insurance policy as a third party insurance policy is mandatory for every two-wheeler owner.
- Affordable: Two-wheeler third party insurance policies are affordable as they provide limited coverage. The insurance policy is quite affordable and can provide legal and financial assistance in times of dire requirements.
Explore Bajaj Allianz Bike Insurance
Must Read Articles before buying Bajaj Allianz Bike Insurance
- You might be looking for step by step process to check bike insurance expiry date online? Here it is.
- Read on to find out the features, benefits, and other policy details for Bajaj Allianz bike insurance insurance plans.
- On Indian roadways, two-wheelers are one of the most prevalent forms of transportation.
- A two-wheeler tops the convenience of a car on any given day when it comes to ease of commuting.
- Read this article to understand how you can claim your bike insurance at Bajaj Allianz online.
Bajaj Allianz Bike Insurance User Reviews
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Bajaj Allianz Third Party Bike Insurance FAQs
Do I get coverage for stolen bikes under Bajaj Allianz third party bike insurance?
No, Bajaj Allianz third party bike insurance provides cover only for third party liabilities. It does not cover the theft of the insured’s bike.
Does the third party bike insurance cover for the accident beyond the city limit?
Every insurance policy has a pre-determined geographical extent for insurance coverage. The insurer will provide coverage for the accident of the insured bike beyond the city limit if the location of the accident falls within the assigned geographical extent.
What would be the tenure for a long term Bajaj Allianz Third Party bike Insurance?
The tenure for a long term Bajaj Allianz Third Party bike Insurance is of 3 years.
What are the benefits of purchasing third party bike insurance under Bajaj Allianz General Insurance?
The benefits of purchasing third party bike insurance under Bajaj Allianz are as follow:
- Easy and hassle-free procedure for purchasing and renewing the insurance online without any paperwork.
- Active helpdesk service available round the clock.
- Quick claim settlement and tracking of claim status through SMS facility.
In the case of the insured’s bike damage due to natural calamity, will the third party bike insurance provide any compensation?
No, the third party bike insurance does not provide any coverage for damages of insured’s bike caused due to natural calamity.
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