According to Indian Motors Vehicle Act - 1988, anyone riding a two wheeler in India is required to have at least one valid third party insurance policy. Failing to adhere to this act may lead to heavy penalties. That is not all, driving an insured vehicle automatically gives a sense of security to your mind.

Let us understand what we mean by third party insurance for two wheelers.



By definition, it means a policy created to protect you against damages caused to a third party in case of an accident.

Advantages:

Also known as liability insurance, it offers the following benefits:



A third party insurance for two wheelers protects the driver from any legal obligations that may arise due to damage to a third party. The third party in this context can be a person or a property.

It is much more economical as compared to a full-fledged comprehensive motor vehicle plan.

Getting a liability insurance is much easier and requires minimal paperwork since it covers third party and not the vehicle.

Disadvantages

The biggest disadvantage, as mentioned above is covers only the third party and not the vehicle or the rider. Hence, in case of an accident, all the damage caused to the rider or the two wheeler has to be taken by the owner of the vehicle itself. There is absolutely no coverage of cost incurred for damages of the two wheeler in this type of insurance.

How it differs from a Comprehensive coverage

There is not much information to clear out the differences between these two totally different types of insurance plans causing a lot of confusion to the vehicle owner as to what to choose. A comprehensive insurance plan offers coverage to both - the insured vehicle and third party, on the other hand, a third party insurance, as the name suggests, provides coverage to the third party only.

The decision to buying an insurance is totally at your disposal, but according to experts, it is suggested that you go for a comprehensive coverage plan. Considering the number of road accidents being caused, a lower premium should never be the concern for you. Taking a comprehensive insurance plan will protect you against all unforeseen expenses and liabilities.

How to renew your insurance?

Always keep a tab on the expiry date of your insurance. You can renew your third party insurance online just before the expiry date. Besides, most of the insurance companies call the vehicle owners much before the expiry date for tour phượng hoàng cổ trấn an auto renewal of their policy. On the other hand, tour trương gia giới in case you miss the expiry date, you will have to pay inspection charges before the policy is renewed.

Documents required at the time of renewal

Current policy



Debit card/credit card/net banking details

Registration certificate of your vehicle

Finally, while taking a third party insurance for your two wheelers, many questions can arise in your mind. But once you have made up your mind, the best way to make the decision is to compare the policies online. There are lot many websites offering comparisons between different policies, a lot of factors can influence and change your decision. So take your time and choose wisely!












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