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Digit Third-Party Bike Insurance
With the rising number of automobile purchases in India, the number of accidents has also significantly gone up. With these facts in mind, third-party insurance is mandatory as per the Motor Vehicles Act. So, if you are a bike owner, you have to get your bike insured with third-party insurance. Third-party insurance covers the third-party financial and legal liability that might arise in an accident involving your bike.
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- Digit Third-Party Bike Insurance
The Digit third-party bike insurance policy helps the policyholder financially if an accident or collision has occurred involving your bike, which has caused damages to the third party such as damage to the property, injuries, death, etc. The Digit third-party bike insurance policy also provides you a personal accident cover as an add-on feature.
Digit Third-Party Bike Insurance Policy vs. Comprehensive Bike Insurance
A two-wheeler third-party insurance policy has limited coverage. It covers only damages caused to the third party. In contrast, a comprehensive cover plan offers much more coverage. It covers your damages, your injuries, as well as the third party's damages, injuries, and even death. A comprehensive plan also provides coverage in case of theft, riots, fire, natural disasters (floods, earthquakes, and storms), etc.
However, a comprehensive plan is not mandatory, but a third party bike insurance is compulsory under the Motor Vehicles Act. The Digit third-party insurance allows you to add personal accident cover if you already have a third-party cover. This add-on cover policy will cover damages caused to you in an accident.
Digit Third-Party Bike Insurance Policy vs. Comprehensive Bike Insurance
| Third-Party Bike Insurance | Comprehensive Bike Insurance |
| It provides coverage for damages caused to a third party by your bike in an accident or collision | It provides coverage for damages caused to a third party and covers damages caused to the insured bike as well |
| Premium costs are lower as compared to a comprehensive cover | Premium costs are higher because it covers you from more unfortunate events than a third-party plan covers |
| This does not provide coverage for damages caused by natural disasters (floods, earthquakes, storms), theft, fire, riots, etc. | It provides coverage if damages are caused by natural disasters (floods, earthquakes, storms), theft, fire, riots, etc. |
| It is mandatory to have third-party insurance cover | It is not mandatory to have comprehensive bike insurance cover |
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What is covered under the Digit Third-Party Bike Insurance Policy?
Although a third-party insurance policy is mandatory, you must know what it covers. The Digit third-party bike insurance policy covers:
- Damages caused to the Third Party– If the third party is injured in an accident, all his or her medical costs will be taken care of.
- Property Damage– If someone's house, vehicle, or property is damaged, that loss will also be covered.
- Damage to Owner-driver– In case of your death or injury, this plan can protect you or your family by providing sufficient coverage.
What is not covered by Digit Third-Party Bike Insurance Policy?
It is crucial to know what your third-party policy does not cover. The Digit Third-Party Bike Insurance Policy does not cover:
- This bike insurance will not cover the damages caused to your bike in an accident
- This policy will not cover if an accident has occurred and you were drunk while riding
- This policy will not cover if an accident has occurred and you were riding without a driving license
- This policy will not cover if you are a learner's license holder and you were riding without someone sitting in the passenger seat who has a valid driving license
FAQs
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Q. What happens if the accident has occurred in a different city?
If the accident has occurred in a different city, the policy will cover the damages irrespective of the city or state.
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Q. Is it possible to avoid the purchase of third-party insurance?
No. It is mandatory by the law to have at least third-party insurance. Otherwise, you will be liable to pay a fine of Rs 2000- Rs 4000.
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Q. What is an add-on in bike insurance?
Add-ons are the additional coverage plans that a policy buyer can buy with their base plan to enhance the strength of their policy.
Explore Two Wheeler Insurance
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New India Assurance Third Party Bike Insurance
Oriental Third Party Bike Insurance
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Disclaimer: The list mentioned is according to the alphabetical order of the insurance companies. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website www.irdai.gov.in
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Read more^The renewal of insurance policy is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. Actual time for a transaction may vary subject to additional data requirements and operational processes.
^The buying of Insurance policy is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. Actual time for transaction may vary subject to additional data requirements and operational processes.
#Savings are based on the comparison between highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB.
*TP price for less than 75 CC two-wheelers. All savings are provided by insurers as per IRDAI-approved insurance plan. Standard T&C apply.
*Rs 538/- per annum is the price for third party motor insurance for two wheelers of not more than 75cc (non-commercial and non-electric)
#Savings are based on the comparison between the highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB.
*₹ 1.5 is the Comprehensive premium for a 2015 TVS XL Super 70cc, MH02(Mumbai) RTO with an IDV of ₹5,895 and NCB at 50%.
*Rs 457/- per annum is the price for the third-party motor insurance for private electric two-wheelers of not more than 3KW (non-commercial).The list of insurers mentioned are arranged according to the alphabetical order of the names of insurers respectively.Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. The list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website www.irdai.gov.in
