HDFC ERGO Third Party Bike Insurance
A third party bike insurance is the most basic insurance policy offered by HDFC Ergo General Insurance for bikes. As per the Indian Motor Tariff, a bike owner is mandatorily required to have at least a third party insurance policy. It insures the policyholder against all third party liabilities which may arise due to any mishap involving the insured’s bike.
HDFC Ergo Third Party bike Insurance vs Comprehensive bike Insurance Policy
A third party insurance cover takes care of all the legal liabilities arising out of an unforeseen event towards a third party.
A comprehensive bike insurance plan takes care of both legal liabilities as well as own damage incurred by the insured’s bike.
No add-on covers can be availed with a third party bike insurance policy.
All add-on covers such as Zero Depreciation, Engine Cover, Emergency Assistance, etc, can be availed with a comprehensive bike insurance policy.
Nature of requirement
It is a statutory requirement.
It is an optional but recommended policy.
It is comparatively cost effective because it offers limited coverage.
It is comparatively expensive because it provides extensive coverage.
What All is Covered Under HDFC Ergo Third Party bike Insurance Plan?
A third party bike insurance policy by HDFC Ergo provides coverage for the following:
- The plan provides coverage for death/bodily injuries incurred by a third party due to any mishap involving the insured’s bike. The amount of compensation in such cases is decided by a court of law.
- The plan also provides coverage for property damage incurred by a third party to an extent of Rs. 1 lakh.
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HDFC Ergo Third Party bike Insurance FAQs
Why should I buy Third Party bike insurance?
You should buy the Third Party bike insurance because the Indian Motor Tariff has made it mandatory for all bikes in India. The HDFC Ergo bike insurance will protect you against all third party liability.
What amount can be availed in case of any property damage of the third party?
In case of any property damage, the HDFC Ergo Third Party bike insurance policy will provide coverage upto Rs. 1 lakh.
Will my third party bike insurance cover all kinds of damages in every situation?
A third party bike insurance has some conditions when it comes to coverage. The policy does not provide coverage under these following circumstances-
- Accident occurred outside the geographical arena mentioned in the policy
- Bike driven by someone else other than insured
- Driving in intoxicated state
- Bike engaged in iIlegal practices
- Intentional damage etc.
Can I buy HDFC Ergo third party bike policy online?
Yes, you can buy an HDFC Ergo third party bike policy online. You can get the policy online from either HDFC Ergo General Insurance’s official website or at InsuranceDekho.com
Can I stretch the coverage offered by HDFC Ergo Third Party bike Insurance?
Unfortunately, you cannot stretch the coverage offered by HDFC Ergo Third Party bike insurance. It will only provide for third party liability. For extensive coverage you can opt for the HDFC Ergo Comprehensive bike insurance policy.
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