Clare Louise 
Having third-party two-wheeler insurance is mandatory in India, according to the Indian motor vehicles Act. It is the most economical Motor insurance plan and can be easily purchased online with minimum documentation.
What is Third-party Bike insurance?
Third-party bike insurance is a type of insurance that provides coverage to third party liabilities that may have occurred due to an accident with a two-wheeler.
If the owner of the vehicle is driving without the third-party insurance, then s(he) would have to pay the penalty. The insurance company pays the amount to the third party. In case of a fatal accident, the compensation is equal to the entire policy insured. However, in case of property damage, a maximum of Rs. 1 lakh is claimable.
What does third party insurance for two-wheeler cover
All third party two-wheeler insurance covers any bodily injury or death to the third party. The insurance covers the medical cost of the injured individual incase the person is disabled and is not in a position to work.
Third-party insurance also covers damages done to the property, which is a maximum of Rs. 1 lakh.
In case of permanent disability of the driver, 100% sum assured is paid out, while in case of partial disability, 50% of the sum assured is paid out to the driver or bike owner.
Third-Party insurance Costs
The third-partytwo-wheeler insurance rates have been revised by the IRDAIbut are still quite affordable. Below is the chart that shows the Applicable premium rates as per the Engine Capacity.
| Engine Capacity | Applicable Premium Rates |
| Upto 75cc | Rs.482 |
| 75cc- 150 cc | Rs. 752 |
| 150cc-350cc | Rs. 1193 |
| Above 350cc | Rs. 2323 |
Whether we get a newThird Party insurance or renew the existing insurance,it is necessary to have the following documents in hand.
- Two-wheeler Registration certificate
- Card details for Online payment
- Existing policy number in case of renewal
- Engine number
- Chassis number
- Vehicle Manufacturing date
- Date and city of purchase
- Complete address and contact details
A policyholder can buy a new policy or renew it online before the expiry date. Having insurance for your vehicle ensures safety through perils at all times.
What is the process to get third party insurance for two-wheeler
- You can start by comparing different plans from different insurance companies.
- Choose the one that fits your pocket as well as your needs. However, selecting third party insurance for two-wheeler is easier as compared to comprehensive two-wheeler insurance.
- If you wish to renew your existing policy, then you should inform the insurance agency before the policy lapse to avoid any penalty.
- You would need the documents before starting the payment process.
- After entering the document details, you can click on the payment mode, enter the details of your debit card or net banking, and click on the payment.
Third party insurance for two wheeler is economical, and it fulfils the statutory requirement of covering any third party liabilities. The procurement of third party insurance needs minimum documentation. A third party cover will suffice if the roads in your locality are safe and aren’t prone to any mishaps.
