Why is Third-Party Insurance important for bikes?

One of the best vehicles to own is a two-wheeler. It costs a few thousand rupees, fits comfortably into most budgets, and quickly gets you a loan. It has excellent fuel efficiency. Furthermore, the vehicle's modest size makes it simple to drive through traffic, even during peak hours. 

Regardless of whether you own a scooter or a geared bike, you should buy Two Wheeler Insurance. Under this, buy the Third-Party Bike Insurance as it is mandatory. Let us understand what it is, its coverage, and why it is so important.

What is it?

Third-Party Insurance, called Third-Party Liability Insurance, is a type of Two-Wheeler Insurance that all vehicle owners must have. According to the Motor Vehicle Act of 1988, you should buy Third-Party Bike Insurance coverage if you own a two-wheeler.

What gets covered?

The Third-Party Insurance is the one in which the beneficiary is a third-party individual injured in an accident. The best thing is you can buy Two Wheeler Insurance online. It is an all-encompassing policy that protects you from things like:

• Third-party bodily injuries sustained in the event of an accident

• Unintentional death of a third-party

• The accident resulted in permanent impairments.

• Damages to a third party's car and property because of the accident.

Why is it essential?

Extends legal protection

A roadside mishap can swiftly turn into a legal concern. If a person gets caught driving without a valid policy, they could get fined up to Rs.10,000. You even get imprisoned for three months or more, depending on the severity of the situation. Two-Wheeler Insurance provides some relief in such challenging circumstances.

Provides financial protection

If a person gets seriously injured, the party who caused the accident is responsible for all medical costs, including hospitalisation and surgery. The insurance provider covers these costs if you have valid Third-Party 2-Wheeler Insurance. The policy also covers the cost of any damage to the injured party's vehicle or property, if any. Hence, the policyholder need not worry about these costs. 

Brings about security 

Any roadside collision results in anxiety and stress. There is always a great deal of paperwork to do and procedures to fulfil. In such a circumstance, your insurance company comes to your rescue and provides the assistance you require during such challenging moments. Regardless of the situation, the policyholder gets assured that all legal and financial issues are handled. It allows them and the injured party to focus on recovering than how dealing with the problem. 

Do your research on Two-Wheeler Insurance online. With all insurance companies providing different plans, ensure that you choose one that fits your budget.