As per the Indian Motor Tariff, every bike owner in India is mandatorily required to own at least a third party bike insurance policy. Driving a bike without an active third party bike insurance policy is a legal offence punishable with a fine of Rs. 2,000 and/or imprisonment of up to 3 months. MOTOR PACKAGE INSURANCE POLICY FOR PRIVATE CAR . What is covered under Car Insurance Policy: The Private Car Package Policy covers. 1. Accidental Loss of or damage to the Vehicle 2. Liability to third parties, Personal Accident cover to owner-driver 3. Various Add on Covers on extra premium Loss or damage to private car caused by: 1.
Property Liability – Upto ₹.1,00,000 for accidental damage to property of Third party; Our bike insurance policy provides Compulsory Personal Accident (CPA) cover for Owner-driver: Provides coverage upto Rs.15,00,000 for Acidental Death / disability of the Registered Owner while driving or alighting into / out of the Vehicle.
Oriental insurance bike third party price. "Third Party Bike Insurance is the most basic form of Bike Insurance that you must mandatorily buy to use your vehicle on Indian roads as per section 146 of the Motor Vehicles act, 1988. Third Party Bike Insurance provides cover against third party liability arising out of an accident by your vehicle towards a third person and property." The bike insurance plans are designed to secure a rider against third party liability and property damages as well as own damages. A number of effective add on covers for bikes are available under the plans offered by Oriental Two Wheeler Insurance. The third-party bike insurance price is very low since it covers only third party liabilities. The premiums are fixed by the Insurance Regulatory and Development Authority of India (IRDAI). They depend on the engine capacity of the bike and the term for which the policy has been issued.
Without third party insurance, any owner of a car or bike can't drive their vehicle on road. Hence it is compulsory to opt for car/bike insurance since you can't escape from the law. 2. Can I make a third-party insurance for my new bike? Of course you can and let me tell you, you will have to make at least a third party insurance for your bike. Motor Package Insurance Policy For Two-Wheeler. Oriental Insurance Company offers Liability Only Two-Wheeler Insurance Policy and Two-Wheeler Package Policy for two-wheelers in India. While the Liability Only Policy covers the insured against loss or damage caused to a third party due to the insured vehicle, the package policy covers own damage as well. Oriental Two Wheeler Insurance. Oriental Insurance Company Limited was established on 12th September 1947. It is a provider of a range of insurance products such as motor, personal accident, health, marine, etc. Its portfolio has been designed meticulously to cater to the needs of the Indian consumers of all backgrounds and sections of the society.
Third Party Cover: A third party two wheeler cover protects the person from any kind of legal obligation that may arise due to the accident towards third party. It Covers damage to the third party property or Deat h or bodily injury to a third party by the insured vehicle. hird-party cover is mandated by the law which means the bike insurance. The third-party two-wheeler insurance premium rates have been revised by the Insurance Regulatory and Development Authority of India (IRDAI), as of 1 April 2017. The hike in premium was pretty high. The table below shows you the difference in the cost of third-party bike insurance premium: Third Party Two Wheeler Insurance Rates in 2020 The Two Wheller Package Policy covers Accidental Loss of or damage to the Vehicle, Liability to third parties, Personal Accident cover to owner-driver , Various Add on Covers on extra premium. Toll free – 1800118485 / 011-33208485 (normal charges apply)
Oriental Two Wheeler Insurance. Two wheelers now a day are integral part of daily life for most of the Indian families. May it be for commuting or for some leisure, Two wheelers have fulfilled the yearning of having an own means of transport in an economical way. A third party bike insurance provides financial protection to you in case of damages or injuries caused by your two-wheeler to another person or their property. It is the necessary and mandatory bike insurance policy as per the Motor Vehicles Act, 1988. This insurance provides comprehensive insurance coverage from one single insurance policy to the institutions, which have heavy financial transactions. Learn More. Aviation Insurance. This insurance covers aircraft against accidental damage, war and allied risk, third party (including passenger and cargo) liability etc. Learn More.
Well, there are two types of two-wheeler insurance: 'Third-Party Insurance' and 'Comprehensive Insurance'. Third-party insurance protects you against losses, which occur due to bodily injury or death to a third party or any damage to that person’s property. It is mandatory, by law, to have third-party insurance. Oriental Bike Insurance Policy Renewal – Offline Process Oriental insurance can be renewed offline by dialling the helpdesk numbers 1800 118485 and 011-33208485 (chargeable). You can also visit the nearest branch for the renewal. Bike insurance renewal online with Bajaj Allianz. Two wheeler insurance renewal is hassle-free & offers NCB benefits, continued coverage. Renew 2 wheeler insurance instantly!. Hence, third party liability cover is mandatory in India, to make everyone take responsibility for their actions.
Yes,you can buy a third party insurance policy and it is mandatory as per the Motor Vehicle Act. A comprehensive insurance plan offers benefits of a third party covers and also provides coverage for the two wheeler from damages from natural calamities like earthquake,floods,tornadoes and manmade events like riots,arson,civil unrest etc. Bike Insurance Price After choosing the right coverage, opt for the insurance policy that provides lower bike insurance price. While the rates of a two-wheeler Third-Party policy is fixed by the Insurance Regulatory and Development Authority of India (IRDAI), the Comprehensive insurance policy’s premium varies. Third Party Bike Insurance. Third-party bike insurance is the basic type of two-wheeler insurance policy, that covers you against financial liabilities claimed by a third-party person, property or vehicle arising out of an accident, where the insured bike is at fault.Third-party two-wheeler insurance is compulsory as per the Motor Vehicles Act that helps cover losses & damages to your two-wheeler.
In India, the Motor Vehicles Act, 1988 governs the traffic rules which every vehicle has to follow if it is to run on Indian roads. One such rule specified in the Motor Vehicles Act is the requirement of a valid third party insurance cover on every vehicle, whether private or commercial, which runs on Indian roads. Comprehensive Two Wheeler Insurance. If you are looking for a 360 degree cover for your bike, then this is your policy. One of the things that makes comprehensive bike insurance popular among two-wheeler insurance is it covers you from third-party damages and own damages to your bike. On the other hand, a Third Party Bike Insurance only protects you against the damages arising due to injuries or death sustained by a third-party due to your bike. As per the Motor Vehicles Act, 1988, it’s mandatory for all vehicles plying on Indian roads to have third party insurance.
The following things are covered under a comprehensive third-party two-wheeler insurance: • Death or injuries to the third party: In case of an unfortunate event, if anyone is injured or dead after meeting an accident with your insured two-wheeler, third-party two-wheeler insurance can be used.The medical expenses or loss of income due to disability or death can be claimed with this insurance.