Third-Party Vs Comprehensive Bike Insurance: Which Is Better And Why?

In India, there are two kinds of bike insurance policies: third-party bike insurance and comprehensive bike insurance. The third-party two-wheeler policy offers total protection and is required for use on Indian roads. 

So, what is comprehensive bike insurance? The comprehensive bike policy, on the other hand, provides broader protection.

Listed below is the difference between comprehensive and third-party two-wheeler insurance.

ParameterThird-Party CoverComprehensive Cover
RequirementA third-party car insurance policy is required by law; therefore, before using a vehicle on Indian roads, one must obtain insurance. It’s crucial to keep in mind that breaking the rules can result in severe fines.A comprehensive bike policy is optional and not mandatory.
PriceThe cost of third-party bike insurance is fixed by the regulator.The price for comprehensive coverage keeps changing as it is based on the rates and concessions given by different insurers.
CoverageIt is a basic form of insurance that shields the policyholder from any legal obligations arising from any accidental harm, demise, or physical harm to a third party (person, property, or vehicle) brought on by the insured car.The two main components of comprehensive motor insurance are third-party bike insurance (TP) and own damage (OD) covers. Both third-party and damage to the policyholder’s property are protected. A thorough automobile insurance plan will cover any damage brought on by riots, fires, and other unplanned occurrences, as well as damage from cyclones, floods, earthquakes, and other natural disasters. *
Add-onsNot applicableComprehensive covers also offer provisions for add-ons such as engine protection, zero depreciation, etc. *

Below are descriptions of a few of the add-ons:

Zero Depreciation Cover

The car owner typically bears the cost of depreciation and replacing new spare components following an accident. However, one can purchase the nil or zero depreciation add-on to receive the benefits of this cover and the existing insurance plan if they wish the insurance company to pay for this expense. The nil or zero depreciation plan covers repairing and replacing the vehicle’s rubber, plastic, and fibre parts. *

Consumables Cover

Consumables, like oil, nuts, bolts, etc., may not be insured at the time of the claim. One can avoid paying for consumables with this add-on. This add-on covers costs toward consumables that are beyond repair following damage from an accident. *

Gearbox And Engine Protection Cover

The only damages covered by a typical auto insurance policy are those resulting from the collision. However, after a collision, the engine could also sustain additional damages. This add-on financially guards policyholders against damages resulting from such. This includes harm brought on by lubricating oil leaks or instances when water gets inside the engine due to natural disasters. *

Which Policy Is Recommended?

You are purchasing a comprehensive auto insurance policy to guarantee comprehensive vehicle protection. In addition to a third-party cover, as mentioned above, such a plan covers damages caused due to a variety of reasons, including natural calamities, fire, riots, theft, etc.

* Standard T&C Apply

Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.






Leave a Reply

Your email address will not be published. Required fields are marked *