Third Party Bike Insurance Policy

What is Third Party Bike Insurance?

Key Features of Third Party Two Wheeler Insurance

• 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

• 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.

• 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

1. 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.
2. 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.
3. 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.
4. 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?

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

How to Renew Third Party Bike Insurance Online?

1. Download the App: Install the SBI General Insurance App from Google Play or the App Store and log in.
2. Select Renewal: If you already have an SBI General policy, choose it from the options and review the coverage.
3. Update Your Details: Make any updates to your personal or bike details, like address or contact changes.
4. 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

Documents Required For Third-Party Bike Insurance Claims

• 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?

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