Third Party Bike Insurance

A third-party bike insurance policy covers damages inflicted upon another person, vehicle, or property in case of an accident involving your bike. It also takes care of any legal liabilities or fees that may arise from such incidents. You should note that third-party bike insurance does not cover damages caused to your bike.

With TATA AIG, you can now unlock the power of comprehensive protection with third-party insurance. Our policy seamlessly blends legal compliance and financial security, ensuring you are always in control of responsible ownership.

The IRDAI determines the premium rates of third-party bike insurance policies based on engine capacity. The IRDAI also offers a discount of 7.5% premiums for Hybrid Electric Vehicles. Below are the decided slab rates for third-party insurance premiums based on engine capacity and battery capacity (for Electric Bikes).

For Fuel Based Bikes

For Electric Based Bikes

As per the new legal mandate by the Supreme Court of India, all the general insurance companies need to offer long-term third-party motor insurance plans to new vehicle owners.

This is mandated to ensure that the new vehicle remains protected against damages for the long term without the hassle of renewing the policy every year.

Below are the premium slab rates for a long-term third-party bike insurance policy based on engine capacity.

For Electric Based Bikes

Third-party bike insurance rates are set by the IRDAI every year. These rates are fixed and determined based on the bike’s engine or battery capacity. Therefore, the bike's engine capacity (cc) or battery capacity (KW) are the only determining factors that impact the price of third-party insurance.

Affordable Coverage: Third-party insurance bike prices are the most affordable when compared to other types of bike insurance plans.

Financial Assistance: Third-party bike insurance covers the compensatory expenses to be paid to the other party after an accident in case of property damage, injury or death.

Legal Assistance: Two-wheeler insurance online for third-party provides legal assistance and covers legal fees in case of an accident caused by the insured bike.

Property Damage Coverage: With third-party insurance, policyholders can get coverage up to ₹7.5 lakhs for damage caused to third-party property.

Here is the third-party two-wheeler insurance rate chart in terms of percentage and nature of injury incurred.

Step 1: Visit the TATA AIG bike insurance page and enter your bike registration number. Click on “Get Price” for the new policy, or click on “Renew” for policy renewal.

Step 2: Enter your bike details and personal information as requested. You must also select the policy coverage (Third-Party Insurance).

Step 3: Our premium calculator will calculate the price based on the information provided and the policy selected.

Step 4: Verify the quoted price and, if satisfied, make the premium payment.

Step 5: After you complete the payment, your policy documents will be sent to your registered email address.

Filing A Claim As A Policyholder

Step 1: Check that you are okay and contact the TATA AIG immediately to inform them about the incident.

Step 2: Provide the necessary details, such as the policy number, contact information, date, time, and incident details.

Step 3: Gather all the required documents for claim settlement and submit them to the insurance executive.

Step 4: We evaluate and determine whether the claim amount is eligible, as per the Third-party Bike Insurance policy terms and conditions. Once the claim assessment is completed, your claim will be settled.

Filing A Claim As A Victim

Step 1: Victims must provide the policyholder with details about the incident, including their contact number, location, and the date and time of the incident.

Step 2: Collect all relevant information regarding the incident, including photographs and videos of injuries, vehicle damage, accident scenes and necessary documents.

Step 3: Call the TATA AIG claim helpline number to report the incident and file a claim as a victim.

Step 4: Provide our executive with all the necessary information, including policyholders and incident details, along with personal details.

Step 5: The claim executive will assess your claim based on the information provided.

Step 6: Finally, once your claim is approved, TATA AIG will pay the settlement amount based on the policy's coverage limits and terms.

• Copy of third-party bike insurance policy.

• Original copy of vehicle registration certificate.

• Original copy of driving licence.

• Copy of FIR

• Proof and Evidence to Support Damage.

• Repair Estimate for Damage.

• Payment Receipts or Repair Bills, If Any

Evidence Collection

Before you file a claim for two-wheeler insurance, a third party collects all the evidence, including photographs, videos, and documents, providing accurate evidence to ensure that your claim is not rejected.

File FIR Report

It is crucial to file an FIR report and inform TATA AIG about third-party incidents after they happen. Informing within the correct timeline ensures that your claim process gets settled as soon as possible.

Insurance Compensation Limit

The Motor Accidents Claims Tribunal decides the compensation limit that must be paid to third-party persons. The maximum compensation limit is 7.5 lakhs for property damage, which should be considered when filing a claim.

In India, basic third-party bike insurance is mandatory as per the Motor Vehicles Act. Driving a vehicle without a policy can result in fines and penalties from the authorities. Tata AIG's bike insurance policy offers a convenient and efficient online buying and renewing process, ensuring a hassle-free experience for policyholders. With the added benefit of a personal accident cover, you get the best third-party insurance for bikes that offers comprehensive protection to the policyholder and accident victims.

To make sure this is the right policy type for you, it is recommended that you compare two-wheeler insurance plans online. This way, you make an informed decision and ensure you get your policy at a competitive rate.