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Third Party Two Wheeler Insurance

We know you are very excited to ride your two wheeler through the city roads. And why wouldn’t you? After all, your bike reflects your personality. Which is why getting your two wheeler insured is the best thing to show your love and affection. This would cover bodily injuries or death of a person either accompanying you on the bike or on the road. Not only this, there are higher chances of the third-party properties getting damaged due to accidents. But nothing to worry, you can cover all these types of risks by buying a "Third-party Two Wheeler Insurance".

In short, third-party two wheeler insurance is nothing but a risk cover. In case of an unfortunate event, your insurance company would pay you for any legal liabilities. Section 146 of the Motor Vehicles Act, 1988, makes third-party insurance mandatory for any vehicles plying on the Indian roads.

Key Benefits of Third-party Two Wheeler Insurance

Offers Financial Assistance

The third-party liability fulfills the requirement of covering death or injury to third-party person and damage to the property.

Easy Processing

You can buy a third-party insurance for your two wheeler easily with minimum documentation since it doesn’t cover your insured vehicle.


The third-party premiums are cheap as compared to the comprehensive coverage. You get a higher coverage at a lower premium rate.

Peace of Mind

Buying a third-party two wheeler insurance plan offers you peace of mind while dealing with situations that can rip off your finances.

What is Covered Under Third-party Two wheeler Insurance?

The conditions under which third-party two wheeler insurance comes into force are mentioned below:

  • Death or bodily injury to the third party: In case someone on the road meets with an accident because of your two wheeler and sustain injuries, the person can claim medical expenses due to loss of income if he/she is not in a position to resume work. Also, you are eligible for a compensation for physical disabilities.
  • Third-party property damage: The process kills you mentally as well as financially if there is third-party property damage due to your two wheeler processed. As per IRDA norms, third-party property damages are covered up to a sum of Rs. 1 lakh.
  • Death of the owner or driver of the insured bike: If you are the owner or driver of the bike and doesn’t survive after meeting with an accident, your dependents would be eligible to claim compensation for the sudden income loss.
  • Permanent total disability of the insured vehicle owner or driver: If you own the insured vehicle or drive the same and sustain permanent total disability, you would be eligible to claim compensation.
Type of DisabilityPercentage of Capital Sum Insured
Death, Loss of Two Limbs or sight of both eyes or one limb and sight of one eye 100%
Loss of one Limb or sight of one eye 50%
Permanent Total Disablement from injuries other than named above 100%

What is Not Covered Under Third-party Two wheeler Insurance?

Unlike the main two wheeler insurance policy, a few exclusions do not cover the third party insurance. Mentioned below are a few of these conditions:

  • Any damage to your own vehicle
  • Accidental damage/loss/liability borne outside the prescribed geographical area
  • Claims arising out of any contractual liability
  • Accidental loss/damage incurred by the third party that might have resulted from a consequential loss
  • Loss, damage, liability caused due to war, invasion and other warlike operations
  • Any liability caused directly or indirectly due to radioactive contamination or nuclear weapons

Premium Rate: How Much Does it Cost?

IRDA has standardized the two wheeler insurance premium rates for third party liability with effect 1st April, 2017 as below:

Condition Relating to Engine CapacityApplicable Premium Rate
Loss of baggage/personal documents Rs. 569
75- 150 cc Rs. 720
150- 350 cc Rs. 970
Above 350 cc Rs. 1,114

Multi Year Two Wheeler Insurance: What is it?

A multi-year two wheeler insurance is unique simply because unlike a regular two wheeler insurance plans, you don’t have to renew it annually. You can insure your two wheeler for a period of three years at one time! So for people who forget their renewal dates, multi-year two wheeler insurance policy would do wonders and would help you save from getting your policy lapsed.

IRDA hikes the third-party motor insurance premium each year by up to 20%. If you opt for a multi-year two wheeler insurance policy, you can save against the hike of TP premium and the service tax. Not only this, you would enjoy long-term financial protection for your bike for a period of 3 years.

To add to it, insurance companies at times provide discounts on the multi-year two wheeler insurance policies. At present the insurance companies, which are offering Multiyear two wheeler insurance policies are ICICI Lombard, Bajaj Allianz General and New India Assurance.

What are the features of Multi-Year Two Wheeler Insurance?

The features of the multi-year two wheeler insurance are mentioned below:

  • Third-party liability cover: Offers coverage against any expenses occurring due to damages and losses faced by a third-party only if the mishap was caused by your two wheeler
  • Own-damage cover: There are insurers who offer own-damage cover that provides protection to your two wheeler against accidental damage, theft and any losses due to natural and man-made disasters.
  • Personal accident cover for owner/driver: If death or total disability occurs because of your own two wheeler, you would be compensated for the personal accident cover up to a certain amount.
  • Co-passengers can avail personal accident cover: You can also safeguard your co-passengers financially with a personal accident cover by paying a little extra amount.

How to Renew Your Third Party Two wheeler Insurance?

Well, the third-party two wheeler insurance renewal is simple, fast and online with Coverfox. In short, you can renew it online instantly. Don’t worry even if you have an expired policy. With minimal paperwork, you can renew it in minutes!

Coverfox sends a renewal notice much before the policy expiration date. You can visit our website and make a payment via a debit/ credit card and even through net banking.

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What is third-party bike insurance?

Getting third-party insurance is mandatory for your bike. In case of an accident, you would be legally and financially liable to the third party. However, keep in mind, it doesn’t cover any damages and injuries that have occurred to either you or your bike.

Which bike insurance should I buy comprehensive or third party liability Insurance?

If you can invest money in financially protecting yourself from third party liabilities, then why not spend a little more on protecting your bike as well? Thus, choosing a comprehensive plan over a third party plan always makes more sense!

What are the additional covers in two-wheeler insurance?

Having add-on covers always serves as a blessing in disguise. The Nil or Zero Depreciation Cover lets you have a full claim on the value of the parts without deducting depreciations on the parts that are replaced after an accident. Depreciation takes a major part of your expenses. To make sure you escape that, opt for a zero depreciation add-on cover by paying a little extra premium.

Personal Accident Cover for Pillion Passenger protects the pillion rider as well. Accidents can cause grave injuries to both rider and co-passenger! So, in a way both carry equal risk. With the help of this add-on, pillion passenger can be compensated up to a certain amount for partial and permanent disability. The premium is slightly higher, but worth it!

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