What is Third-Party Two-Wheeler Insurance?

Third-party two-wheeler insurance is a mandatory cover under the Motor Vehicles Act, 1988, offering protection against legal liabilities arising due to injury, death, or property damage caused to a third party. While it does not cover damages to your own vehicle, it ensures compliance with the law and shields you from unforeseen financial burdens related to third-party claims.

At Coverfox, we simplify the process of purchasing and renewing third-party bike insurance by providing you with a streamlined platform to compare and choose the best policies at affordable rates.

Third-party two-wheeler insurance acts as a financial safeguard for liabilities arising from accidents involving your bike. If your vehicle causes damage to someone else's property, injury, or death, the insurance covers the costs, relieving you from the financial burden.

The insurer steps in to:

• Pay for third-party property damage (up to ₹7.5 lakh).

• Compensate for third-party injury or death, as determined by the court.

However, it does not cover damages to your own vehicle or injuries to the owner/rider. For this, you may consider a comprehensive policy. Third-party insurance is an affordable and legally mandated option, ensuring minimal hassle during an unforeseen event.

Third-party insurance offers limited but essential coverage, protecting you from financial liabilities to third parties.

Coverage Includes

• Third-Party Property Damage: Covers damage caused to another person’s property (up to ₹7.5 lakh).

• Third-Party Injury or Death: Provides compensation for medical expenses, injuries, or fatalities caused to a third party, as per legal directives.

What It Does Not Cover

• Own Vehicle Damage: Any damage to your bike is not covered.

• Personal Injuries: Injuries to the owner or rider are excluded.

• Exclusions: Incidents involving drunk driving, expired policies, or illegal usage are not covered.

To ensure broader protection, consider upgrading to a comprehensive plan.

• Legal Compliance: Stay protected from penalties by fulfilling the legal requirement of third-party insurance.

• Financial Security: Avoid hefty expenses arising from third-party claims, ensuring peace of mind.

• Affordable Premiums: Budget-friendly option with low premiums compared to comprehensive policies.

• Hassle-Free Claims: Streamlined claim settlement process for third-party damages.

• Quick Issuance: Instant policy issuance ensures you are covered immediately.

Opting for third-party insurance is a cost-effective way to ensure your bike's legal compliance while safeguarding your financial interests.

• Visit the Coverfox Website: Navigate to the third-party bike insurance section.

• Enter Bike Details: Provide basic information like registration number, model, and location.

• Compare Plans: Review and choose a plan from top insurers like Tata AIG, Acko, and others.

• Make Payment: Use secure online payment options to complete the purchase or renewal.

• Download Policy: Receive your policy document instantly via email.

• Wide Range of Insurers: Access plans from trusted insurers in one place.

• Affordable Premiums: Compare and select the best-priced policy for your budget.

• Hassle-Free Online Process: Buy or renew policies in minutes without paperwork.

• 24/7 Customer Support: Our team ensures seamless assistance during purchase, renewal, or claims.

• Transparency: Clear insights into coverage, benefits, and exclusions for informed decision-making.

With Coverfox, you get the perfect blend of affordability, convenience, and expert guidance.

• Report the Incident: Inform the insurer immediately and file an FIR if required.

• Collect Evidence: Take photos of the accident and gather contact details of witnesses.

• Submit Documents: Provide the FIR copy, claim form, and other required documents.

• Insurer's Investigation: The insurer will evaluate the claim and assess the damages.

• Settlement: The insurer compensates the third party based on court directives.