Reliance Third Party Bike Insurance

Reliance Third Party Bike Insurance plan shields its policyholder from all the financial and legal obligations of the third party in case of an unfortunate event of an accident. It provides basic coverage to the policyholder and is mandatory by the law. It serves as the most economical bike insurance plan.

Reliance third party bike insurance serves as the most cost-effective insurance that covers all the third party liabilities arising out of a road mishap. It provides its policyholders financial and legal security against the uncertainties of life at a very low premium rate.

Reliance Third Party Bike Insurance vs Comprehensive Bike Insurance

Reliance third party bike insurance plan provides coverage of the following liabilities of the third party in case of a road accident/mishap of the insured’s bike:

• Bodily Injuries to a Third Party: Reliance third party insurance policy provides coverage for the bodily injuries/demise/disability caused to the third party in an accident involving the insured two-wheeler. In case the third party suffers from a bodily injury or disability caused in an accident, a compensation shall be provided to the third-party till he/she recovers. Demise of the third party due to an accident is also covered under this type of policy.
• Damage to Third Party Property: Under Reliance third party insurance policy damages to third party property for upto Rs. 1 Lakh shall be compensated for, in case the property is damaged due to an accident involving the insured two-wheeler.
• Damage to Third Party Vehicle: Damage to the third party vehicle caused in an accident involving the insured two-wheeler shall be compensated for. Cost or repairs/damages to the third party vehicle caused in an accident involving the policyholder’s two wheeler shall be covered under this policy.

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

The third party insurance cover offers limited insurance coverage which every policyholder needs to be aware of. Here are the points which are not covered under the third party bike insurance policy:

1. Reliance third-party insurance policy does not cover the cost of any damages/repairs to your own vehicle or belongings in the event of an accident.
2. Damages to the insured vehicle caused due to driving under the influence of alcohol/drugs or any other intoxicating substance.
3. If the driver/two-wheeler without a valid license then the two-wheeler driver/owner can be denied with the claim.
4. Injuries suffered by the policyholder in case of an accident shall not be covered under a third-party insurance policy.

Key Benefits of Purchasing Reliance Third Party Bike Insurance

Third-party insurance policies may be compulsory to be owned by every two-wheeler owner and may offer limited coverage but can be very helpful in times of crisis. Below mentioned are some benefits of purchasing a Reliance Third Party Insurance policy:

1. Financial and Legal Security: Reliance third party insurance policy provides coverage against the policyholder’s financial and legal liabilities in the event of property or personal damage of any kind to the third party. A third party insurance policy provides monetary and legal assistance in case of any bodily injuries/demise/property damages to a third party in case an unforeseen event takes place. Under such circumstances legal and financial burden that may fall on the policyholder is taken care of with the help of a third party insurance policy.
2. Peace of Mind: This type of insurance policy gives the two-wheeler insurance policy a sense of peace of mind. This policy not only allows the policyholder to comply with law and drive your two-wheeler legally as per the Motor Vehicles Act but also provides legal and financial protection in difficult situations. This type of two-wheeler insurance policy can be very helpful in case of any bodily injuries/demise/property damage of the third party
3. Affordable: Two-wheeler third party insurance policies are considered the most basic type insurance policy. This type of two-wheeler insurance policy provides limited coverage and is very affordable. This is the reason why most people choose to go for a third-party insurance policy for their two-wheeler.