Acko Third Party Bike Insurance Policy Explained
Read this article to understand everything you need to know about Third Party Bike Insurance At Acko General Insurance.
Table of Contents
- Meaning And Significance of Third Party Bike Insurance
- Key Features of Acko Third Party Bike Insurance
- Benefits of Purchasing Bike Insurance With Acko General Insurance
- Take Away
Whether you own a commuter, cruiser, sports bike, or scooter, your passion for your bike will never prevent you from properly maintaining it or protecting it with a two-wheeler insurance policy. It is not without risk whether you ride it to work or for a lengthy trip. When riding a motorcycle on Indian roads, you are constantly at risk of an accident.
Accidents involving third parties, in most circumstances, can result in significant financial obligations, which can devastate you financially. In addition, the Motor Vehicles Act of 1988 mandates that you insure your two-wheeler with at least a third-party two-wheeler insurance coverage. Damage or harm to a third-party property or person is covered by third-party bike insurance, which protects you from financial difficulty. Continue reading to learn more about Acko third-party bike insurance.
Meaning And Significance of Third Party Bike Insurance
A third-party bike insurance policy, also known as Third-party Liability coverage, will shield you against financial obligations stemming from third-party losses caused by an accident involving your covered bike. This might involve death or injury, physical harm, and property or bike damage to a third party.
If you wish to ride your two-wheeler on the road, you must have third-party insurance, which is required under the Motor Vehicles Act. Your insurance provider will cover any financial responsibilities in the event of an unexpected incident. You may save a lot of money and, most importantly, you will have peace of mind in the event of an unexpected catastrophe.
Key Features of Acko Third Party Bike Insurance
The following are the top features of the third party bike insurance at Acko General Insurance -
- You can buy third party bike insurance with Acko General Insurance starting at Rs.482.
- Avail unlimited coverage when you claim for third party injury.
- Avail up to Rs. 1 Lakh for third party property damages.
- 100% digital process for claim, renewal and purchase of a new policy at Acko General Insurance.
Benefits of Purchasing Bike Insurance With Acko General Insurance
The following are the benefits of purchasing third party bike insurance with Acko General Insurance -
1. Being Lawful
Because third-party insurance is required under The Motor Vehicles Act of 1988, insuring your bike with Acko third-party insurance coverage ensures you are not breaching any laws. The third-party insurance plan is particularly advantageous because your insurance company is responsible for settling the claim.
2. Affordable And Cost Effective
When compared to other forms of two-wheeler insurance, the third-party bike insurance premium at Acko General Insurance is quite low. The IRDAI determines the premium depending on the cubic capacity of the bike's engine. As a result, there's a slim probability of a price increase.
You may also like to read:- Purchasing A Used Bike From A Different State? Keep These Things in Mind!
3. No Financial Obligation
The third-party two-wheeler insurance protects your financial obligations for losses caused to a third person, including medical expenses. In addition, the Acko Third-party coverage covers losses up to Rs. 1 lakh if you inadvertently damage a third party's property or vehicle.
4. Online Transaction
Almost all transactions with new-age insurance firms may be completed online, so you don't have to leave the house to get the job done. Purchasing or renewing third-party bike insurance with ACKO General Insurance is quick and easy.
5. Minimal Documentation
This sort of car insurance involves less paperwork and may be done in a shorter amount of time. Because it does not insure the car, it requires less checks and inspections. You may also buy it whenever it is convenient for you.
As third party bike insurance doesn’t cover personal accident, own damage or theft, it is very important to make sure that the policy you are purchasing supports you financially during unforeseen accidents. Always compare different bike insurance policies before finalizing one and ride safe.
Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.