2 Wheeler 3rd Party Insurance – Key Points to Consider

2 wheeler insurance is mandatory to drive a bike or scooter on Indian roads. It is a legal requirement to have a valid third party liability insurance for any two wheeler you own. This type of insurance covers losses or damages caused to third-party property or people due to an accident caused by you. The coverage is not limited to just the rider, but also covers the passenger and third-party property.

What is covered under 2 Wheeler 3rd Party Insurance?

The coverage provided by a 2 wheeler third party insurance plan includes any damage caused to a third-party property or person due to an accident. It also covers any legal liability that arises due to the accident. The coverage amount is decided by the insurer and is subject to change depending on the type of plan chosen. The coverage amount can range from Rs.1 lakh to Rs.5 lakhs.

Benefits of 2 Wheeler 3rd Party Insurance

The main benefit of having a 2 wheeler third party insurance plan is that it provides financial protection in case of any damage caused to third-party property or people due to an accident. It covers legal liabilities arising out of an accident. The coverage amount is higher than a standard motor insurance plan, making it more suitable for those who are looking for a higher amount of coverage. It also helps in reducing the financial burden in case of any legal proceedings arising out of an accident.

Points to Consider before Buying 2 Wheeler 3rd Party Insurance

Before buying a 2 wheeler third party insurance plan, it is important to consider certain factors. Firstly, the coverage amount should be sufficient to cover any possible losses or damages arising out of an accident. Secondly, the premium amount should be in line with the coverage offered. Lastly, the insurer should have a good track record and should be reliable.

Conclusion

2 Wheeler 3rd party insurance is a must-have for all two-wheeler owners. It provides financial protection in case of any damage caused to third-party property or people due to an accident. It is important to consider certain factors before buying a 2 wheeler third party insurance plan such as the coverage amount, premium amount and the credibility of the insurer. This will help in ensuring that you get the best coverage at the most competitive prices.