Third Party Bike Insurance Policy

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Customers Served:
14Cr+
Network Garages:
8,700+
Locations:
140+

What is Third Party Bike Insurance?

Third-party bike insurance is a mandatory insurance policy for all two-wheeler owners in India. This type of insurance provides coverage for damages or injuries caused to a third party by the insured bike. It does not cover any damages to the insured bike itself. The primary purpose of third-party bike insurance is to protect the bike owner from financial liabilities arising from accidents that cause harm to other people or their property. This insurance is essential for legal compliance and ensures that victims of accidents receive compensation for their losses.

Key Features of Third Party Two Wheeler Insurance

Third-party two wheeler insurance offers several key features that make it an essential policy for bike owners:

Legal Requirement: It is mandatory by law for all two-wheeler owners to have third party insurance.
Liability Coverage: Covers financial liabilities arising from damages or injuries caused to a third party.
Affordable Premiums:Generally, the 3rd party bike insurance price is lower compared to comprehensive insurance.
Easy to Purchase: You can easily buy third party bike insurance online through various insurance portals.
No Coverage for Own Damage: It does not cover damages to the insured bike or injuries to the rider.

Advantages and Disadvantages of 3rd-Party Bike Insurance Policy

Advantages

Legal Compliance: Ensures that you are legally allowed to ride your bike on public roads.
Financial Protection: Protects you from financial liabilities arising from third-party claims.
Affordable: The 3rd party bike insurance price is generally lower than comprehensive bike insurance policy.

Disadvantages

Limited Coverage: This does not cover damages to your own bike or injuries to the rider.
No Add-ons: Unlike comprehensive policies, third-party insurance does not offer add-ons like zero depreciation or engine protection.

Reasons to Buy Third-Party Bike Insurance Online from SBI General Insurance

Purchasing third-party bike insurance online from SBI General offers several advantages:

Convenience: You can easily buy and renew your policy from the comfort of your home. This eliminates the hassle of visiting insurance offices or meeting with agents.
Easy Comparison: SBI General's online platform allows you to compare different insurance policies and prices effortlessly. This helps you make informed choices and find the best deal that meets your needs.
Instant Policy Issuance: When you opt for online insurance services with SBI General, you receive your policy immediately. This means no long paperwork or waiting periods, so you can get covered right away.
Exclusive Discounts: SBI General frequently offers special discounts and promotions on their online platform, allowing you to save money on your premiums while ensuring you have solid coverage for your bike.

Coverage Under Third Party Bike Insurance

Inclusions (Base + Add-ons):

Third-Party Liability
Loss or Damage to the Vehicle
Personal Accident Cover
Additional Legal Liabilities
Bifuel-Kit
Cover for Key Replacement
Inconvenience Allowance
Loss of Personal Belongings
Hospital Daily Cash Cover
Return to Invoice
Depreciation Reimbursement
Road Side Assistance (Basic & Additional)
Engine Guard
NCB Protection
Cover for Consumables
EMI Protector

Exclusions

Driving without a valid driving licence.
Driving under the influence of drugs or alcohol.
Damage from normal wear and tear.
Intentionally damaging the vehicle.
Trying to start the bike after it's been damaged, leading to more loss.
Illegal racing or overspeeding.
Using the vehicle for business purposes.
Damage that happens outside the area covered by the policy.

How to Buy Third-Party Bike Insurance Online?

Enter Your Details: Visit SBI General Insurance website and enter your information to get a personalized quote for your two wheeler insurance.
Choose Your Coverage: Pick the coverage options and any extra features you want for your policy.
Make Payment: Pay online, and your policy will be sent to your email.

How to Renew Third Party Bike Insurance Online?

Download the App: Install the SBI General Insurance App from Google Play or the App Store and log in.
Select Renewal: If you already have an SBI General policy, choose it from the options and review the coverage.
Update Your Details: Make any updates to your personal or bike details, like address or contact changes.
Pay and Confirm: Review the renewal price, apply any discounts, and pay. Your updated policy will arrive by email.

Third-Party Liability Two Wheeler Insurance vs Comprehensive Bike Insurance

Feature	Third-Party Insurance	Comprehensive Insurance
Coverage	Third-party liabilities only	Both third-party and own damage
Legal Requirement	Yes	No
Premium	Lower	Higher
Add-Ons	Not Available	Available
Own Damage Cover	No	Yes

Read our blog to know more: Comprehensive vs Third Party Bike Insurance

Documents Required For Third-Party Bike Insurance Claims

To file a claim under third-party bike insurance, you need the following documents:

Policy Document: A copy of your insurance policy.
Claim Form: Duly filled claim form.
FIR: First Information Report in case of an accident.
Driving License: A copy of the rider’s driving license.
Bike Registration Certificate: A copy of the bike’s RC.

How to Claim Third Party Bike Insurance?

To claim third-party bike insurance, follow these steps:

Visit the Website: Go to the SBI General official website.
Register Your Claim: Fill in the required details to initiate the claim.
Submit Documents: Provide necessary documents for survey and inspection.
Approval for Repairs: Wait for approval to proceed with repairs.
Vehicle Delivery: After repairs, we will settle the costs directly with the network garage.

Also Read: What Is Bike Insurance Claim Process?

FAQs based on Third Party Bike Insurance Policy

Yes, 3rd party bike insurance is mandatory by law for all two-wheeler owners in India.

First-party insurance offers broader coverage, including own damage, while third party insurance covers only third-party liabilities.

Yes, you can cancel a third party bike insurance policy by contacting your insurer and following their cancellation process.

You need to submit the policy document, claim form, FIR, driving license, and bike registration certificate.

Any bike owner can purchase 3rd party two wheeler insurance to comply with legal requirements and protect against third-party liabilities.

Yes, you can easily buy third party bike insurance online through SBI General Insurance’s official website.

The duration of a third party bike insurance policy is typically one year, but multi-year policies are also available.

Yes, GST is applied to the premium when you buy third party bike insurance online or offline.

Yes, you can switch from comprehensive to third party bike insurance by contacting your insurer and making the necessary changes.

The model of your bike may affect the 3rd party bike insurance price, but the coverage remains the same.

You must own a registered bike and have a valid driving license to purchase a third party bike cover.

Yes, you can renew your third-party bike insurance online even if you initially bought it offline.

Yes, you can buy an own damage policy along with third party bike insurance for comprehensive coverage.

Yes, third party bike insurance will cover third-party liabilities even if someone else was riding your bike, provided they have a valid driving license.

You can get 3rd party insurance for your 10-year-old bike by visiting an insurance provider’s website, entering your bike details, and purchasing the policy online.

Disclaimer: The above information is indicative in nature, for more details on complete coverage and terms and conditions, please contact our nearest office and also read the policy document and sales brochure carefully before concluding a sale.

SBI General Insurance and SBI are separate legal entities and SBI is working as Corporate Agent of the company for sourcing of insurance products.

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Third Party Bike Insurance Policy