Third-Party Bike Insurance Price

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Disclaimer:Tata Capital Limited (“TCL”) registered with IRDAI (License No. CA0896, valid till 21-Jan-2027), acts as a Corporate Agent “Composite” for Go Digit General Insurance Limited. Please note that, TCL does not underwrite the risk or act as an insurer. For more details on the risk factors, terms and conditions please read sales brochure carefully of the Insurance Company before concluding the sale. Participation to buy insurance is purely voluntary.

The Registered office of TCL is Tata Capital Limited, 11th Floor, Tower A, Peninsula Business Park, Ganpatrao Kadam, Marg, Lower Parel, Mumbai-400013.
The Registered Office of Go Digit: Go Digit General Insurance Limited, 1st Floor, Fairmont, Hiranandani Business Park, Powai, Mumbai – 400076.
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Third-Party Bike Insurance Rates for Two Wheelers

Ever thought that your reckless driving on a bike can cause harm to a third-party? Has it happened to you at any time? Or has someone else driving on the road injured you even when it was not your fault? If yes, then you must be aware of the relevance of third-party liability insurance.

Most of the times a road accident results in damaging property or killing or injuring people. It gives rise to a dispute that cannot be resolved by the two parties involved. In such cases, your Third party bike insurance policy will play and the amount of compensation will be decided by the Motor Claims Tribunal. 

Third-Party Premium for Old Two-Wheelers

Unlike Comprehensive two-wheeler insurance, the bike insurance premium for a third-party insurance policy is predefined by the IRDAI. The premium prices for the same are primarily dependent on the engine displacement of your two-wheeler.

As per the latest update by the IRDAI, the following are the third-party two-wheeler insurance rates for old bikes across various cc ranges. Check the bike insurance premium calculator.

Two Wheelers with engine capacity Premium rate (effective 1st June 2022)
Not exceeding 75cc  ₹538 
Exceeding 75cc but not exceeding 150cc  ₹714 
Exceeding 150cc but not exceeding 350cc  ₹1,366 
Exceeding 350cc  ₹2,804 

Third-Party Premium for New Two-Wheelers (5-Year Single Premium Policy)

The table below shows the third-party two-wheeler insurance rate chart for new two-wheelers with a 5-year single premium policy. 

Two-Wheelers with Engine Capacity Premium Rate (effective 1st June 2022)
Not Exceeding 75cc  ₹2,901 
Exceeding 75cc but Not Exceeding 150cc  ₹3,851 
Exceeding 150cc but Not Exceeding 350cc  ₹7,365 
Exceeding 350cc  ₹15,117 

Third-Party Premium for New Electric Two-Wheelers (1-Year Single Premium Policy)

Here is the third-party two-wheeler insurance rate chart for new electric two-wheelers with a 1-year single premium policy.

Vehicle Kilowatt Capacity (KW) Premium Rate (effective 1st June 2022)
Not Exceeding 3KW  ₹457 
Exceeding 3KW but Not Exceeding 7KW  ₹607 
Exceeding 7KW but Not Exceeding 16KW  ₹1,161 
Exceeding 16KW  ₹2,383 

Third-Party Premium for New Electric Two-Wheeler (5-Year Single Premium Policy)

Here is the third-party two-wheeler insurance rate chart for new electric two-wheelers with a 5-year single premium policy.

Vehicle Kilowatt Capacity (KW) Premium Rate (effective 1st June 2022)
Not Exceeding 3KW  ₹2,466 
Exceeding 3KW but Not Exceeding 7KW  ₹3,273 
Exceeding 7KW but Not Exceeding 16KW  ₹6,260 
Exceeding 16KW  ₹12,849 

What’s Covered in Third-Party Bike Insurance by Digit?

Personal Damage to Third Party

Personal Damage to Third Party

If a person is injured in an accident, all his or her medical costs till recovery are taken care of by Third Party bike insurance. In an unfortunate case of loss of life, a compensation amount is given too.

Property Damage Compensation

Property Damage Compensation

In case damage occurs to someone’s vehicle, house or any property, the owner is covered for the loss. There is a limit of ₹7,50,000

Personal Damage to Owner/Driver

Personal Damage to Owner-Driver

If you don’t already have a Personal Accident Cover, this cover can be included in your Third-Party Bike Insurance to protect you from losses that could arise if you face any physical injuries or death/permanent disability.

What’s Not Covered in Third-Party Bike Insurance by Digit?

It is equally important to know what’s not covered in your Third-party bike insurance policy so that there are no surprises when you make a claim. Here are some such situations:

Own Damages

Own Damages

In the case of a Third party bike insurance policy, damages to own vehicle won’t be covered. 

Drunk Riding or without a Licence

Drunk Riding or without a Licence

Your bike insurance won’t cover for you in situations where you were riding drunk or without a valid two-wheeler licence.

Add-ons not Bought

Add-ons not Bought

Some situations are covered in add-ons. If you haven’t bought those two wheeler add-ons, the corresponding situations will not be covered.

Driving without a valid Driving Licence holder

Driving Without a Valid Driving Licence Holder

If you hold a learner’s licence and were riding your two-wheeler without a valid licence-holder on the pillion seat- then your claim in those situations won’t be covered.

Why Third-Party Bike Insurance is Important?

As per the Motor Vehicle Act, here’s why you need a Third-Party Bike Insurance:

Mandatory by Law

Mandatory by Law

Having at least a third-party insurance for bike in India is the law! Driving without one can lead to fines and penalties.

Financial Security

Financial Security

It covers you financially in case of loss, damage, or injuries to third party property or person caused in an accident due to your vehicle.

Peace of Mind

Peace of Mind

You can drive your bike worry-free knowing that you're covered for third-party damages.

Affordable

Affordable

Compared to comprehensive insurance, third-party is a cheaper way to meet legal requirements and basic protection in accidents.

Limited Liability

Limited Liability

Third-party bike insurance is perfect for people who primarily use a two-wheeler for short, low-risk commutes, or those who have an older bike with a lower market value.

Events in Which Bike Owner can be Liable to Pay for Third-Party Losses

In Case of Injury

In Case of Death

The injured party (third party) can ask for expenses incurred for medical assistance, compensation of physical disfigurement, and also for the loss of earnings of the injured party when she/he is unable to work after the accident that involves your bike. In case you happen to sustain some injuries because of someone else’s fault, then you are authorized to ask for the compensation as mentioned.
The dependents of the deceased can ask for medical expenses for the treatment of an injury that caused death. In some cases, they may also ask for compensation for income loss.
Manasvi Gupta

Written By:

Manasvi Gupta

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Manasvi Gupta

Manasvi Gupta

Content Writer

Storyteller at heart, Manasvi brings 4 years of content and marketing experience to Digit. Whether it's writing SEO-optimised articles or a researched and insightful blog, she strives to transform ideas into creating impactful and engaging content.

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Reviewed By:

Mayur Kacholiya

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mayur-black-white-test

Mayur Kacholiya

Product Head - Motor

Mayur specializes in motor insurance and is responsible for overseeing the development and management of motor insurance products. With expertise in product strategy and market analysis, he focuses on developing customer-centric insurance solutions.

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