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Liberty Third Party Bike Insurance
Third-party insurance is mandatory for all bike owners in India. Liberty third-party bike insurance covers multiple liabilities caused to the third party, including death and disability. The policy also covers third-party property damages.
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- Liberty Third Party Bike Insurance
Liberty third-party bike insurance allows policyholders to choose a personal cover anywhere between one year and five years. The personal accident cover assures a sum of INR 15 lakhs in case of road injury or accident.
Liberty Third Party Two-Wheeler Insurance vs. Comprehensive Two-Wheeler Insurance
The table below gives the difference between Liberty third-party bike insurance and comprehensive bike insurance:
| Parameters | Third-party bike insurance | Comprehensive bike insurance |
| Coverage | Third party bike insurance covers the third party only, including property and personal damage | It covers the third party as well as the policyholder, including both property and personal damage |
| Add-Ons | It is a standalone cover as no add-ons can be added | You can opt for multiple additional benefits with comprehensive bike insurance |
| Premiums | Premiums are lower since they provide limited coverage | Premiums are higher since the coverage is wider |
| Mandate | This is necessarily required under the Motor Vehicles Act | This is optional and depends on individual choice |
What is Covered under Liberty Third-Party Bike Insurance Plan?
The Liberty Third-Party Bike Insurance covers the following:
- Third party property damage: This means that if the third party’s property suffers damage due to an accident with the policyholder’s bike, the third-party bike insurance will provide coverage.
- Bodily injury:
- If the third party is injured by the policyholder’s bike, then claims arising out of injury, harm, and disability are covered under this policy.
- Loss of life of the third party is also covered under this policy. The claim amount for both injuries and fatality is determined in court.
- Damage to the Insured:
- Fatality – 100% compensation
- Injuries
- Loss of one limb – 50% compensation
- Loss of one eye – 50% compensation
- Loss of both limbs – 100% compensation
- Loss of both eyes – 100% compensation
- Total disability other than above – 100% compensation
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What is Not Covered Under Liberty Third-Party Bike Insurance Plan?
While Liberty third-party bike insurance covers various incidences, some things are not included under this two wheeler insurance online such as:
- Loss or damage due to overdose of alcohol while driving, and if found to be driving without a valid driving license
- Any significant loss apart from any damage due to lubricating oil leak to:
- Gearbox
- Engine parts
- Engine oil and other consumables during engine flushing
- Loss, damage, or corrosion due to untimely salvation or notification to the company when the bike is stranded in a water-logged or flooded area
FAQs
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Q. Can I purchase Liberty bike insurance online?
Yes, you can purchase the Liberty bike insurance online. In fact, it is much easier to purchase insurance online since there are no hassles of intermediaries and delays in getting the policy.
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Q. How can I renew my Liberty bike insurance policy?
The best way to renew your bike insurance policy is online. For annual policies, one must renew every year. For others, renewal should be done whenever the policy approaches the expiration date.
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Q. What is a zero-depreciation bike insurance cover?
Zero-depreciation cover refers to the insurer covering the cost of depreciation on payment of extra premium. Otherwise, the depreciation on bike parts is deducted from the claim amount.
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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
