Third Party -Two Wheeler Insurance

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Reasonable

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Total Cover

100% Claim Settlement

No

Documentation

Reasonable

Premium

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Client Testimonials​

3 weeks ago
They guided me through the intricacies of various insurance options, ensuring I fully understood each policy's coverage and benefits. Their transparency and willingness to address all my concerns instilled a sense of trust and confidence in their services.
5 months ago
Beemawala and team is a best Company for take any type of insurance. They support and take care of your claim . Thanks a lot for your support of my claims many times .
6 months ago
Really satisfied and happy with the progress in the process Thank you for your service and your support
a year ago
Beemawala team provides professional services with best solution both at corporate and personal level. Always ready to answer any queries related to policy. I am very happy with the service.
a year ago
Shantanu is professional and very prompt in responding to my questions. I’m a repeated client and he’s been supportive throughout. I highly recommend his services. I wish him and his team good luck for future.

What Is - Third Party -Two Wheeler Insurance ?

Third Party – Two Wheeler Insurance is a type of insurance policy that provides coverage against legal liabilities arising from third-party damages or injuries caused by the insured’s two-wheeler. It is mandated by law in India and covers the insured’s financial liability towards third parties. This insurance does not cover any damages or losses to the insured’s own vehicle (own damage). Instead, it focuses on providing financial protection for the insured against any legal claims made by third parties for injury or property damage caused by the insured’s two-wheeler.

⛦ Example Scenario: If Mr. Rahul Sharma has Third Party – Two Wheeler Insurance and he accidentally hits a pedestrian while riding his bike, the insurance can help him in the following ways:

1. Liability Coverage: The insurance will cover the legal liabilities arising from the injury caused to the pedestrian. It will provide financial assistance to Rahul to compensate the injured person for medical expenses or any other damages claimed by the pedestrian.

2. Legal Defense: The insurance will also provide legal support and cover the expenses for legal representation if the pedestrian decides to file a lawsuit against Rahul. This helps Rahul to defend himself in the legal proceedings.

3. Peace of Mind: Having Third Party Insurance ensures that Rahul fulfills his legal obligation as a responsible rider. It offers him peace of mind knowing that he won’t bear the entire financial burden in case of an unfortunate accident involving third-party damages.

However, it’s important to note that Third Party Insurance does not cover damages to Rahul’s own bike. For that, he would need a Comprehensive Insurance policy.

Coverages Of Third Party -Two Wheeler Insurance

Third-Party Liability Coverage

Third-Party Liability Coverage

Compulsory under Indian law, this coverage protects you from legal liabilities arising from injury, death, or property damage caused to third parties due to your bike’s involvement in an accident.

Personal Accident (PA) Cover

Personal Accident (PA) Cover

Offers financial compensation to you, the policyholder, in case of accidental death or permanent total disability arising from a bike accident.

Legal Defense

Legal Defense

Covers legal expenses for defending against any legal proceedings related to the insured’s two-wheeler causing third-party damages.

Property Damage Liability

Property Damage Liability

Provides coverage for damages caused to third-party property due to an accident involving the insured’s two-wheeler.

Additional Add-ons OF Coverages of Third Party -Two Wheeler Insurance

Driver Liability Cover

Driver Liability Cover

Extends coverage to include legal liabilities arising from injury, death, or property damage caused to a driver of the insured two-wheeler.

Driver Personal Accident (PA) Cover

Driver Personal Accident (PA) Cover

Offers compensation for accidental death or permanent total disability to the driver of the insured two-wheeler.

Passenger Cover

Passenger Personal Accident (PA) Cover

Provides compensation for accidental death or permanent total disability to the passengers traveling on the insured two-wheeler.

Factors Determining the Premium of Coverages of Third Party -Two Wheeler Insurance

Engine Capacity

Engine CC (Cubic Capacity)

The higher the engine CC of the two-wheeler, the higher the premium, as it indicates higher power and performance, which may lead to increased risks.

Fuel Type (CNG / Petrol / Electric)

Fuel Type

The type of fuel used in the two-wheeler (petrol, diesel, CNG, etc.) affects the premium, as different fuels may have varying risks associated with them.

Major Differences Between Own Damage (OD) Cover and Third-Party Liability Cover In Two Wheeler Insurance

Coverage Own Damage (OD) Cover Third-Party Liability Cover
Definition
Provides coverage for damages to your vehicle due to accidents, theft, natural calamities, fire, and more.
Covers legal liabilities for damages caused to third-party property, injuries, or death due to your vehicle's involvement in an accident.
Scope of Coverage
Protects your own vehicle against a wide range of perils and damages.
Only covers damages and injuries caused to third parties, not your vehicle.
Premium Determination
Based on factors like vehicle's make, model, IDV, and add-ons chosen.
Regulated by the Insurance Regulatory and Development Authority of India (IRDAI). Premium rates are predefined based on the vehicle's engine capacity.
Coverage Extent
Comprehensive coverage for your vehicle, including theft, own damage, and accidents.
Limited to liabilities arising from third-party property damage, injuries, or death.
Add-ons
Various add-ons like zero depreciation, engine protection, roadside assistance, etc., can be availed to enhance coverage.
No add-ons are available, as it is a standardized cover as per IRDAI regulations.
Legal Compliance
Optional, but highly recommended for complete protection of your vehicle.
Mandatory by law to drive a vehicle on Indian roads.
Claim Settlement
Applicable for damages to your vehicle, subject to policy terms and conditions.
Covers financial liabilities towards third parties up to the prescribed limits.
Insurance Premium
Can significantly impact the premium amount based on the extent of coverage and chosen add-ons.
Premium rates are fixed as per the IRDAI guidelines and are based on the vehicle's engine capacity.

How to Settle Third Party -Two Wheeler Insurance Claims?

Inform the Insurer

Inform the Insurance Company

Report the accident to the insurance company immediately. Provide details of the incident, policy number, and vehicle registration.

File an FIR (If applicable)

File a Police Report

In case of third-party injury or property damage, file a police report and obtain a copy for the insurance claim.

Cooperate with Investigation

Cooperate with Investigation

Cooperate with the insurer’s investigation team, provide required documents, and answer any queries truthfully.

Claim Form Submission

Claim Form Submission

Fill and submit the claim form along with relevant documents, such as the police report, vehicle registration, and policy documents.

claim settlement

Claim Settlement

 The insurance company will assess the claim and liability. If found valid, they will negotiate and settle the claim with the third party.

Legal Proceedings

Legal Proceedings

In case of disputes or legal issues, the insurance company may provide legal support and representation.

Exclusions of Third Party -Two Wheeler Insurance

Own Damage Coverage

Own Damage Coverage

Any damages to the insured two-wheeler are not covered under this policy.

Personal Injury to Policyholder

Personal Injury to Policyholder

Injuries sustained by the policyholder while riding the insured two-wheeler are not covered.

Property Damage Liability

Policyholder's Property Damage

Damages to the policyholder’s property are not covered.

Consequential Loss

Consequential Loss

Own Damage Coverage: Any damages to the insured two-wheeler are not covered under this policy.

Driving Under Influence

Driving Under Influence

Accidents caused while driving under the influence of alcohol or drugs may be excluded from coverage.

Unauthorized Drivers

Unauthorized Drivers

If an accident occurs while someone other than the authorized driver is driving the insured Two Wheeler , it may not be covered.

Racing or Adventure Activities

Racing or Adventure Activities

Damages occurring during racing, rallies, or adventure sports are typically excluded.

Intentional Damage

Intentional Damage

Any damages caused intentionally by the insured or any other person will be excluded from coverage under the Two Wheeler Insurance policy.

Wear and Tear

Wear and Tear

Regular wear and tear of the vehicle or mechanical breakdowns are not covered.

Illegal Activities

Illegal Activities

Accidents caused while using the Two Wheeler for illegal purposes may be excluded.

Loss of Personal Belongings

Loss of Personal Belongings

Loss of personal belongings from the Two Wheeler may not be covered.

War or Terrorism

War or Terrorism

Damages due to war, war-like situations, or acts of terrorism are generally excluded.

Nuclear Damage

Nuclear Damage

Any damages caused by nuclear activity are not covered.

Expired or Lapsed Policy

Expired or Lapsed Policy

If the policy is expired or lapsed at the time of the incident, there will be no coverage.

Mechanical or Electrical Failure

Mechanical or Electrical Failure

Any damages due to mechanical or electrical failures are excluded.

Documents Required " for Claim Settlement under Third Party -Two Wheeler Insurance"

FIR or Police Report

FIR or Police Report

In case of accidents involving third-party property damage or injuries, an FIR or police report is necessary.

KYC Documents

KYC Documents

Valid Know Your Customer (KYC) documents of the insured, such as Aadhar Vehicled, Passport, Voter ID, etc., for identification purposes.

Insured's PAN Card

Insured's PAN Vehicle

A copy of the insured’s Permanent Account Number (PAN) Vehicle to verify tax-related information.

Insured's GST Certificate

Insured's GST Certificate

If applicable, a copy of the insured’s Goods and Services Tax (GST) certificate.

Claim Form

Duly Filled Claim Form

A completed claim form provided by the insurance company, containing all necessary details about the incident.

Accident Information

Accident Information

Details of the accident, including the date, time, and location.

Policy Document

Policy Document

A copy of the valid Third Party – Two Wheeler Insurance policy.

Vehicle Registration Certificate (RC)

Vehicle Registration Certificate (RC)

A copy of the vehicle’s RC to establish ownership and vehicle details.

Driving License

Driving License

A valid driving license of the insured to verify the authority to drive the vehicle.

Medical Reports (if applicable)

Medical Reports (if applicable)

In case of third-party injuries, medical reports and bills of the injured person.

Witness Statements

Witness Statements

Statements from witnesses present at the time of the accident, if available.

No Trace Report

No Trace Report

If the vehicle is not recovered, a No Trace Report from the police stating that the stolen vehicle could not be located.

Contact Information for Claim Settlement:Third Party -Two Wheeler Insurance

If Policy Obtained through Agent/Broker

Contact your agent or broker first, as they will guide you through the claims process and assist in reporting the claim.

If Policy Obtained Directly from Insurance Company

Contact the insurance company’s claims department directly to report the claim and follow their instructions for a smooth claims settlement.

Claim Contact Information for Policy from Beemawala.com

If you have taken the policy from Beemawala.com, please use the following contact details to register your claim.

Kindly reach out to the provided contact information to initiate the claim settlement process with Beemawala.com.

Frequently Asked Questions: Third Party -Two Wheeler Insurance

Third-party insurance for a two-wheeler provides coverage for the liability towards third-party property damage or bodily injury caused by the insured bike. It is mandatory by law in India and offers financial protection to the insured against legal liabilities arising from accidents involving third parties.
To change from third-party to comprehensive insurance, you can contact your insurance provider and request an upgrade. Pay the additional premium to convert your policy to a comprehensive one, which will cover both own damage and third-party liability.
The choice between comprehensive and third-party insurance depends on your needs. Comprehensive insurance offers wider coverage, including own damage, theft, and personal accident cover, making it more suitable for comprehensive protection. Third-party insurance is cost-effective and meets the legal requirements for liability coverage.
You can buy third-party insurance for your two-wheeler online through the websites of various insurance providers. Fill in the required details, choose the policy, and make the premium payment online to complete the purchase.
You can buy third-party insurance for your two-wheeler by visiting the nearest branch of an insurance company. Fill out the application form, submit the required documents, and pay the premium to purchase the policy.
The main difference is the coverage provided. Third-party insurance covers only the liability towards third-party property damage and bodily injury. Comprehensive insurance includes third-party coverage as well as coverage for own damage, theft, and personal accident benefits.
– You can check the status of your two-wheeler insurance online by logging into your account on the insurer’s website or app. You can also contact the customer service for assistance.
Two-wheeler third party insurance provides coverage for the insured’s liability towards third-party property damage and bodily injury in case of an accident involving the insured bike.
The premium for two-wheeler third party insurance is calculated based on factors like the cubic capacity of the vehicle and the zone in which it is registered. You can use a premium calculator provided by insurance companies to estimate the premium amount.
The price of two-wheeler third party insurance varies based on the vehicle’s cubic capacity and the insurer’s pricing. It is usually more affordable compared to comprehensive insurance.
The rates for two-wheeler third party insurance are determined by insurance regulatory authorities and are updated annually. They vary based on the cubic capacity of the vehicle.
You can pay for two-wheeler third party insurance online through the websites of insurance providers. Select the policy, enter the required details, and make the premium payment using various online payment options.
The cost of two-wheeler third party insurance depends on factors like the cubic capacity of the vehicle and the premium rate set by the insurance company.
You can renew two-wheeler third party insurance online through the insurer’s website. Enter the policy details, pay the premium, and the policy will be renewed.
Two-wheeler third party insurance means providing coverage for the insured’s legal liability towards third-party property damage and bodily injury resulting from an accident involving the insured bike.
Yes, you can buy two-wheeler third party insurance online in India through various insurance providers’ websites.
When comparing two-wheeler third party insurance policies across pan India, it’s important to note that the premium remains the same for all insurance companies as it is decided by IRDAI (Insurance Regulatory and Development Authority of India). The premium is determined based on factors like the vehicle’s engine CC and fuel type only.
– You can download your two-wheeler insurance policy from the insurer’s website or app after purchasing or renewing the policy. It will be available in a PDF format.
– You can renew your expired two-wheeler insurance online by visiting the insurer’s website or app, entering the policy details, and making the payment. Some insurers may require a vehicle inspection for expired policies.
– You can renew your expired two-wheeler insurance online by visiting the insurer’s website or app, entering the policy details, and making the payment. Some insurers may require a vehicle inspection for expired policies.
– You can check the validity of your two-wheeler insurance by looking at the policy document or checking the status online on the insurer’s website or app.
– You can check the validity of your two-wheeler insurance by looking at the policy document or checking the status online on the insurer’s website or app.
– Comprehensive two-wheeler insurance provides coverage for own-damage to your vehicle and third-party liabilities arising from accidents. It also offers protection against theft, natural disasters, and other unforeseen events.
– You can get a copy of your two-wheeler insurance policy online by visiting the insurer’s website or app and downloading the policy document in a PDF format.
– The best two-wheeler insurance policy varies based on individual needs and preferences. It’s essential to compare different policies, coverage, and customer reviews to choose the one that suits you best.
– You can find the two-wheeler insurance policy number on the policy document issued by the insurer. It is a unique alphanumeric code mentioned on the top of the document.
– As per the Motor Vehicles Act, third-party insurance is mandatory for all two-wheelers in India to cover liabilities towards third parties.
– You can find your two-wheeler insurance policy number on the policy document or the premium payment receipt issued by the insurer.
– No Claim Bonus (NCB) is a discount given on the premium for each claim-free year. It rewards policyholders for not making any claims during the policy term.
– You can renew your two-wheeler insurance online by visiting the insurer’s website or app, entering your policy details, reviewing the coverage, and making the payment.
– You can renew your expired two-wheeler insurance online by visiting the insurer’s website or app, entering the policy details, and making the payment. Some insurers may require a vehicle inspection for expired policies.
– You can check the expiry date of your two-wheeler insurance on the policy document or by contacting your insurance provider.
– You can check the insurance status of your two-wheeler by verifying the policy document or checking online on the insurer’s website or app.
– To change the name in the two-wheeler insurance policy, you need to contact your insurance provider and submit the required documents for name correction.
– You can get a copy of your two-wheeler insurance policy online by visiting the insurer’s website or app, logging into your account, and downloading the policy document.

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