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What Are 1st-Party, 2nd-Party & 3rd-Party Bike Insurance Plans?

What is First Party in Bike Insurance?

What is the Second Party in Bike Insurance?

What is Third Party in Bike Insurance?

What Are the Differences Between First-Party and Third-Party Bike Insurance?

Discussed below are the differences between first-party and third-party bike insurance plans.


First-Party Bike Insurance Third-Party Bike Insurance
Coverage Covers repair and replacement costs incurred for the bike owned by the policyholder. The loss can be due to an accident, natural or man-made calamities, theft, etc.  Compensates only third-party liabilities, i.e., damages to someone else’s vehicle or property or their demise. 
Premium Premium is lesser compared to that of third-party insurance. It is determined based on your motorcycle's market value, model, present location, etc.  Premium is determined according to the bike engine cc. 

The following instances are overlooked in standard comprehensive bike insurance:

  • Regular wear and tear
  • Electrical or mechanical breakdown
  • Drunk driving
  • Damages dealt with while driving without a valid licence, RC, etc. 
Third-party policies do not pay for your loss.
Also, if you are found riding without proper documents or under the influence of any intoxicating substance, these policies turn out to be null.
Claiming Party You directly raise claims with the insurer offline via an agent or through their website or mobile app.  The third party involved in the incident raises the claim.
Policy Modification Options You can select several add-ons like no-claim bonus protection cover, zero depreciation cover, and many more. These elements enhance the base plan.   There are no means to modify a base plan. 
Claim Settlement Body Your insurer directly settles the bills. Motor Accident Claims Tribunal Court resolves the issue.

What Are the Mandatory Insurance for Two-wheelers in India?

FAQs about Different Parties in Bike Insurance