Cholamandalam Third Party Bike Insurance
Cholamandalam General Insurance has been assisting thousands of people during the unforeseen incidents of life. Cholamandalam third party bike insurance policy helps the policyholders in meeting the statutory mandate of the law. It provides basic coverage by taking care of the financial and legal liabilities of the insured’s bike towards the third party.
With the Cholamandalam third party bike insurance, policyholders can avoid the expense of any damage or loss caused to the third party caused by the insured’s bike. Cholamandalam General Insurance has set up an online portal and an active help desk to ensure maximum assistance and hassle-free experience to the policyholders.
Cholamandalam Third Party Bike Insurance vs Comprehensive Bike Insurance
Third Party bike
The third party bike insurance policy provides coverage for the legal and financial liabilities towards the third party only.
The comprehensive bike insurance policy covers the third party liabilities as well as own damage incurred by the insured’s bike.
Nature of Requirement
Indian Motor Tariff Act has made this policy a mandatory requirement.
This policy depends on personal preference and requirement. Therefore, it is optional.
The third party bike insurance policy does not offer any add-on option to the policyholders.
The comprehensive bike insurance policy comes with a wide range of add-on options for the policyholders.
This policy is cost-effective for the policyholders as it provides basic coverage.
The extensive coverage provided by this policy makes the premium relatively higher.
What All is Covered Under Cholamandalam Third Party Bike Insurance Policy?
Cholamandalam third party bike insurance policy provides coverage for the following.
- Financial liabilities of third party property damage: The third party policy covers the expense of any third party property damage caused by the insured’s bike. The insurer compensates third party property damage up to Rs. 1 Lakh.
- Bodily injuries/loss of life of the third party: Any bodily injuries, disability or loss of life of the third party caused in any mishap involving the insured’s bike gets compensated by the insurer under this policy. The compensation amount is decided as per the court of law.
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Cholamandalam Third Party Bike Insurance FAQs
Will the Cholamandalam third party bike insurance policy provide any coverage outside the geographical area?
The coverage of every policy is limited to a predecided geographical area. The Cholamandalam third party bike insurance policy does not provide coverage for any damage or loss occurred outside the predetermined geographical area.
Does this policy cover loss of income due to the physical disability of the third party?
Yes, the Cholamandalam third party bike insurance policy provides compensation for the loss of income of the third party due to physical disability.
How can I get the quote for my Cholamandalam third party bike insurance policy?
You can easily get the quote of Cholamandalam third party bike insurance policy online. You have to go to their official website. Then click on the “GET A QUOTE” option and fill in the registration number of your bike.
Can I stretch the coverage of Cholamandalam third party bike insurance policy?
No, you can not stretch the coverage of the Cholamandalam third party bike insurance policy under any circumstances. For extensive coverage, you can opt for the Cholamandalam comprehensive bike insurance policy.
How can I pay the premium of Cholamandalam third party bike insurance policy?
You can pay the premium of the Cholamandalam third party bike insurance policy in the following ways.
- Log in to the official website and make the payment using debit card, credit card or net banking
- Visit the nearest branch along with the policy documents.
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