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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 well as scooters. As per the Indian Motor Tariff, a bike owner is mandatorily required to have at least a third party insurance policy while driving. It insures the policyholder against all third party liabilities which may arise due to any accident or mishap involving the insured’s bike.

HDFC ERGO Third Party Bike Insurance vs Comprehensive Bike Insurance

Basis

Third Party Bike Insurance

Comprehensive Bike Insurance

Coverage

It is a cover that provides the policyholder protection against the liabilities that may arise in an unforeseen event such as damage, bodily injury, death or loss to the third party. As per the Motor Vehicles Act, 1988 this is a mandatory. This cover insures the policyholder against their liability to other people or property.

Comprehensive insurance is an all rounded coverage that provides cover against damages to policyholder’s two-wheeler and third party liabilities that may arise in case an unforeseen event takes place.

Add-on Covers

As third party insurance cover is the basic form of coverage, no add-on cover can be availed with a third party insurance policy.

Under comprehensive insurance policy add-on covers such as Zero Depreciation, Engine Cover, Emergency Assistance etc. can be purchased with the comprehensive insurance policy.

Nature of Requirement

This cover is mandatory for all the two-wheeler owners as per the Motor Vehicles Act, 1988.

This cover is not mandatory but recommended as it covers third party liabilities and once bought the policyholder is not required to purchase a third party insurance cover separately.

Cost

Third party insurance cover is affordable because limited coverage is provided.

Comprehensive Insurance is expensive as compared to third party insurance because extensive coverage is provided under comprehensive insurance.

What All Is Covered Under HDFC ERGO Third Party Bike Insurance Plan?

A third party bike insurance policy by HDFC ERGO provides the following coverage to its policyholders:

  • Personal damages to the third party such as bodily injuries or death of the third party caused in an accident involving the insured’s two-wheeler.
  • The plan also provides coverage for property damage incurred by a third party to an extent of Rs. 1 lakh.

What All Is Not Covered Under HDFC ERGO Third Party Bike Insurance Plan?

A third party insurance plan is essential to be owned by every bike owner, but offers limited coverage. Here are a few points that are not covered under the third party insurance policy:

  • Own damages to the two-wheeler shall not be covered under a third party insurance policy.
  • If the policyholder is caught driving the two-wheeler without a valid driving licence, the claim gets rejected.
  • If the policyholder is caught driving the two-wheeler under the influence of alcohol, the claim gets rejected.
  • Incidents that may occur outside the geographical scope of the policy shall be not eligible for a claim.
  • Damages to the two-wheeler due to war, riots, radioactive contamination or vandalism shall not be covered under third party insurance.

Key Benefits of Purchasing HDFC ERGO Third-Party Bike Insurance

Although third-party bike insurance is mandatory to be owned by every two-wheeler owner, it may offer limited coverage but can be very beneficial. Below mentioned are some benefits of purchasing an HDFC ERGO Third-Party Bike Insurance policy:

    1. Provides Legal and Financial Assistance: Third-party two-wheeler covers the policyholder's legal liabilities in the event of demise/disability to any third party and any damages to the property of the third party. Under such circumstances, the legal and financial burden is eased with the help of a third party insurance policy. The beneficiary under such type of insurance policy is neither the policyholder nor the insurance provider but a third party.
    2. Easy to Purchase/Renew: Two-wheeler third party insurance policies are easy to purchase and renew. You can easily purchase or renew the policy online which is quite time-saving and hassle-free. The policy can be purchased or renewed by any person or at their convenience.
    3. Cost-Effective: Two-wheeler third party insurance policies are cost-effective as they provide limited coverage. The insurance policy is quite affordable and can provide legal and financial assistance in times of crisis.

Must Read Articles before buying Hdfc Ergo Bike Insurance

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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 liabilities that you may incur due to an accident or mishap.

  • 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 up to 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 www.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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