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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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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.
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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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.
Difference Between Comprehensive and Third-Party Bike Insurance Explained
Choosing the right two-wheeler insurance is essential for every bike owner, therefore, it is important to understand the difference between third-party and comprehensive bike coverage.
Comprehensive bike insurance covers both your own vehicle and third-party damages, offering wider protection. Whereas third-party bike insurance covers third-party liabilities towards others.
Thus, choosing the best type of bike insurance for your two-wheeler is crucial given the extent of risks associated with riding two-wheelers in and around cities. So, to make your decision to buy the right bike insurance easier for you, we’ve put down the benefits and limitations of both third-party and comprehensive bike insurance!
Table of Contents
What is Comprehensive Bike Insurance?
What is Comprehensive Bike Insurance?
- A comprehensive bike insurance policy acts like a raincoat for your beloved two-wheeler, providing it with all-round protection. It gives your bike extensive coverage by covering damage or loss to third-party related liabilities and even to your own bike due to unforeseen circumstances such as natural calamities, accidents, collisions, etc.
- Comprehensive two-wheeler insurance also offers the option to buy add-ons for enhanced protection, thus, protecting you against all odds!
- For example, you can opt for our Roadside Assistance cover while buying your comprehensive bike insurance and get breakdown-related assistance whenever the need arises.
What is Third-Party Bike Insurance?
What is Third-Party Bike Insurance?
- As the name suggests, a Third-Party Bike Insurance is the type of bike insurance that only covers the minimum, mandatory requirement of covering for losses and damages related to third party vehicle, person, or property in case of an accident involving your two-wheeler.
- Also, having at least a third-party two-wheeler insurance is mandatory by law in India; however, it does not cover any damage to your own vehicle, neither does it allow you to opt for any add-ons.
- For example, if you happen to get into an accident with another bike, your third-party bike insurance will cover the losses caused to the bike that collided with you. However, it wouldn’t cover damages and losses caused to your own bike.
Comprehensive vs Third-Party Bike Insurance
Here is a simpler breakdown of the difference between third-party and comprehensive two-wheeler insurance to help you understand the limits and benefits of each:
What are the Benefits of a Comprehensive Bike Insurance?
Covers for Your Bike’s Damages
The main reason people should go for comprehensive bike insurance is the fact that it provides coverage for one’s own bike’s damages and losses, thus, saving tons of money and hassle in the case of an unfortunate incident!
Covers for Personal Damages
Comprehensive Bike Insurance already includes a Personal Accident cover that protects you from personal damage too! Since you have a two-wheeler, it is crucial (and mandatory by law) to have it as part of your bike insurance plan.
Option to Customize Your IDV Yourself
When you choose to buy a comprehensive bike insurance policy with Digit, we give you the option to customize your bike’s IDV a.k.a your bike’s current market value since we really believe you know your bike the best!
Protection During Natural Calamities
Comprehensive bike insurance not only protects your bike from damage caused during accidents and collisions, but also protects your bike from any damage caused due to a natural calamity such as a flood, cyclone, and the like.
Compensation for Bike Theft
Another one of the biggest advantages of comprehensive bike insurance is the fact that, in an unfortunate case where your bike is stolen, your comprehensive bike insurance will be there to cover the losses of the same. Additionally, if you’ve opted for a Return to Invoice Cover, you’ll be compensated as per the last invoice value along with the road tax for the same.
Cost Effective Option
On the surface, one may think that a comprehensive bike insurance is more expensive. But it actually turns out to be a lot more cost effective when compared to a third-party bike insurance. Moreover, as humans we do seem to care more about the damages to our own bike, than someone else’s, don’t we?
Protects You from Third-Party Liabilities
Just like a Third-Party cover, Comprehensive Bike Insurance too protects your bike from third-party related liabilities and losses. For example, in case your bike hits someone else’s car, your comprehensive bike insurance will be there for you to cover that car’s damages as well as your own bike’s!
What are the Limitations of a Comprehensive Bike Insurance?
What are the Limitations of a Comprehensive Bike Insurance?
- It doesn’t cover for your bike’s natural wear and tear.
- It cannot protect your bike from depreciation of its parts over time.
- Usually, unless you’ve taken a specific add-on, the fiber and rubber parts of your bike aren’t fully covered within standard bike insurance.
- As a standard rule, any bike insurance won’t be able to cover losses or damage caused due to a nuclear attack or war.
What’s Not Covered in a Comprehensive Bike Insurance?
Drunk Driving
Damage is done by a person driving under the influence of drugs or alcohol.
No Valid Licence
Damage is done by a person driving without a valid license or has a learner’s license but no valid license holder on the vehicle.
Consequential Damage
Consequential damage does not occur as a direct result of the accident. Unless covered for in an add-on, such damages can’t be covered.
Contributory Negligence
Any contributory negligence, like damage due to driving the bike in a flood can pose a risk, which is not recommended as per the manufacturer’s driving manual, will not be covered!
Add-Ons not Bought
Some situations are covered in add-ons bought along with the policy. In case the add-ons are not bought, the corresponding situations will not be covered.
What are the Benefits of a Third-Party Bike Insurance?
Covers for Third-Party Liabilities
One of the main third-party insurance for two-wheeler benefits is to protect you from any third-party related losses and damages, and it provides for just that.
Covers You in the Eyes of Law
As per the Motor Vehicle Act, you will at least need a Third-Party Policy to be able to ride legally on the road in India. If you don’t have one, you could be held liable to pay a hefty traffic fine!
Protects Your Pocket from Fines
The cost of buying at least a minimum insurance such as a Third-Party Bike Insurance is cheaper than the traffic penalties that can dent your pocket! So, as mentioned above, having at least third-party bike insurance will protect your pocket from the same.
Digit Settled a Third-Party Claim Worth 1.12 Crores in Hoshiarpur, Punjab
Digit Settled a Third-Party Claim Worth 1.12 Crores in Hoshiarpur, Punjab
In a recent case from Hoshiarpur, one of our policyholders was involved in a two-wheeler accident that tragically resulted in a third-party fatality. In this case, the vehicle was covered under a valid third-party insurance policy, and we processed a claim payout of ₹1.12 crore to address the resulting liability. This case highlights the vital role third-party insurance plays—even for smaller vehicles like two-wheelers—in offering essential protection during unforeseen events.
What are the Limitations of a Third-Party Bike Insurance?
What are the Limitations of a Third-Party Bike Insurance?
- It doesn’t provide coverage to your bike’s own damages or losses; whether it occurs due to an accident, collision, fire or even a natural calamity.
- You can’t customize your bike insurance policy with add-ons or covers.
- You can’t customize your IDV in the case of a third-party bike insurance
- It doesn’t compensate for the theft of your bike.
- Though it may help you comply with the law; however, a third-party bike insurance policy does not provide enhanced coverage when compared to a comprehensive car insurance plan.
What’s Not Covered in Third-Party Bike Insurance?
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
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
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
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 Should You Upgrade to Comprehensive Bike Insurance?
Why Should You Upgrade to Comprehensive Bike Insurance?
Upgrade to a comprehensive insurance policy from third-party insurance to avail of the following benefits of comprehensive bike insurance policy:
- To Protect Your Dear Bike: If you really care about the condition of your bike, a comprehensive bike insurance policy is the way to go! In case of an accident, natural calamity or any other unfortunate incident where you accidentally damage your bike, your comprehensive bike insurance will cover you.
- To Cover Both Own Damages and Third-Party Liabilities Within One Bike Insurance Policy: One of the best things about comprehensive bike insurance is the fact that you and your bike will be covered from both own damages and third-party liabilities within one single plan.
- To Benefit from Additional Covers: It is only within a comprehensive bike insurance policy, and an own damage bike insurance where you can also opt for different add-ons to customize your policy just the way you like, for just the kind of coverage you need. This benefit is not available with third-party bike insurance policy.
- To Get Personal Accident Cover: With a comprehensive car insurance policy, you don’t have to buy a personal accident cover separately because it is already included in a comprehensive policy.
Note: If you already have an active third-party two-wheeler insurance policy, you can buy a separate Standalone Own Damage Policy, to cover damage or loss to your own bike as well.
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Why Choose Two-Wheeler Insurance by Digit?
Your bike insurance not only comes with a super easy claim process, but also with the option to choose a cashless settlement
Cashless Repairs
9000+ Cashless Network Garages for you to choose from across India
Smartphone-Enabled Self Inspection
Quick and paperless claims through Smartphone enabled processes that make you go "That's it?"
Super-Fast Claims
We’ve settled 96% of all two-wheeler claims! Experience claims that make you go “that’s it?”
Customize Your Vehicle IDV
With us, you can customize your vehicle IDV as per your choice!
24*7 Support
24*7 call facility even on National Holidays
Complimentary Wellness Benefits
Get exclusive wellness benefits on the Digit App offered by top-rated health and wellness partners.
What are the Factors to Consider Before Buying a Bike Insurance Policy?
What are the Factors to Consider Before Buying a Bike Insurance Policy?
Here’s some important things you should consider before buying a two-wheeler insurance policy:
- Determine Your Requirements: Assess your bike insurance needs and select the policy that suits the best. For example, if you ride your two-wheeler in a densely populated area or an area prone to natural calamities, opting for comprehensive bike insurance with add-ons like roadside assistance, etc., is the best decision.
- Consider Your Bike’s Age and Value: If you have recently purchased a new bike or own a luxurious model, go for comprehensive bike insurance as you can customise it with add-ons for enhanced protection. While third-party coverage may be enough for comparatively older bikes, depending on your risk tolerance and financial plan.
- Consider Your Bike Usage: Also, whether your bike is new or old, if you use it less you can go only for a third-party liability policy as it ensures legal compliance while providing basic protection for your bike.
- Get the Right IDV: IDV or Insured Declared Value is the maximum amount your insurer will give you in case your bike is totally damaged or stolen. We know low premiums are luring but it will not give you maximum financial benefit. Always check the IDV you are being offered and not just the premium. At Digit, we let you customize your IDV as per your choice because we want you to make the right decision without any compromise.
- Claim Settlement Speed & Ratio: An insurance company’s claims settlement ratio will give you an idea about how successfully they fulfil claims.
- 24x7 Support: You never know when you need help, therefore always ensure that your bike insurance provider is always available for you.
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