Difference Between Third-Party and Comprehensive Two-Wheeler Insurance Policy.

You have heard of two-wheeler insurance, home insurance, life insurance, and many more but have you ever heard of Comprehensive insurance policies and third-party insurance policies? Let me explain clearly. Both insurances might help you to choose bike insurance, as driving a two-wheeled vehicle is itself a risky task.

Comprehensive two-wheeler insurance policy

This is insurance that protects from any third-party liability along with its damage. Here you can opt for any add-ons that might help strengthen your policy. It is considered the best insurance for two-wheeler vehicles. 

Benefits:

• Covering bike’s damages- This insurance covers your damages and losses, hence saving most of your money. 
• Protection from third-party liabilities- third party liabilities mean a policy in which the insurance company offers cover for the insured. So, comprehensive insurance protects you from the third- party liabilities and losses. For example, if your two-wheeler hits someone else’s vehicle, comprehensive insurance would protect you.
• Protection during natural disasters- Comprehensive insurance does not only protect from accidents or collisions but also natural calamities like floods, earthquakes, etc.

Third-party insurance

This is a type of bike insurance that would only cover the minimum, and important requirements of covering for losses and damages related to third-party liabilities. For example, if an accident occurs between you and another bike, the insurance would cover the losses for the third party but not for your bike.

Benefits:

• Covering for third-party liabilities- This insurance’s main aim is to protect you from third-party-related damages and losses.
• Can cover in front of law- As per the Motor Vehicle Act, you will need third-party insurance to be legally on the road. If you, don’t you might be held responsible for a hefty traffic line.
• Protects from fines- Buying insurance especially if it is third-party insurance is cheaper than any traffic fines. This insurance can help you to save your pockets.

The difference between Comprehensive insurance policies and third-party insurance this difference can help you choose the right bike insurance since it is already very risky to travel in a two-wheeler.

Conclusion

To sum it up, I recommend that the best insurance for bikes is a Comprehensive insurance policy, but this decision is yours, it must suit you. According to your need must the decision be taken. 

Also Read:  Know How Two Wheeler Insurance Protects Your Bike from Fire Damages