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Reliance Third Party Bike Insurance
The rising number of two-wheelers and accidents go hand in hand. Given this, The 1988 Motor Vehicles Act made it compulsory for every two-wheeler owner to get their vehicle insured with minimum third-party bike insurance. Reliance third-party bike insurance is the basic type of motor insurance that covers the policyholder for third-party damages.
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- Reliance Third-Party Bike Insurance
Reliance Third-Party Bike Insurance vs. Comprehensive Bike Insurance
Reliance third-party two wheeler insurance provides coverage only for damages caused to a third-party i.e. third-party property, vehicle or person. On the other hand, bike insurance offers its own damage cover along with 3rd party insurance cover. The difference between Reliance General Third-Party Bike Insurance & Comprehensive Bike Insurance is given in the table below:
| Third-Party Bike Insurance | Comprehensive Bike Insurance |
| Provides coverage to the damages caused to a third party, person or vehicle, due to an accident. | Provides coverage to the damages caused to a third party and own vehicle and injuries. |
| Premium costs are relatively low. | Premium costs are relatively higher because of the extensive coverage it provides. |
| Provides financial protection from damages caused by accidents only. | Provides financial protection from damages caused by natural calamities, theft, accidents, etc. |
| It is compulsory to have as per law. | It isn’t made compulsory by law. |
What is covered under the Reliance General Third Party Bike Insurance?
Even though it is mandatory for a two-wheeler owner to buy third-party bike insurance, you must know the features of the policy to get optimum benefits from it when the need arises. Thus, here are the things that are covered by the Reliance third-party two wheeler insurance:
- It provides financial protection to you if you get in a collision with somebody else and cause injuries to them. It even provides coverage in case of the death of a third party
- It provides financial coverage of up to Rs 1 lakh if your vehicle causes harm to the other person’s property
- It provides financial protection if your vehicle causes material damage to a third party’s vehicle
Explore Reliance General Bike Insurance
What does the Reliance General Third Party Bike Insurance not cover?
As already stated, your third-party bike insurance provides limited coverage. Therefore, it is equally essential to know what is not covered by your Reliance Third-party two wheeler insurance:
- Your Reliance third-party two wheeler insurance doesn’t provide any financial compensation for the damages caused to your vehicle
- It won’t provide any coverage if the driver was found to be under the influence of alcohol
- Similarly, it won’t provide any coverage if you were driving without a license when the accident occurred
- It doesn’t provide protection, legal or financial, in case of any other type of damage other than an accident.
FAQ’s
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Q1. How to buy the Reliance third-party two wheeler insurance policy?
Reliance General Insurance Company has kept the process of purchasing the third-party two wheeler insurance as easy as possible for their customers. It can be bought online and with the requirement of minimal documentation.
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Q2. Are there any add-ons available along with the Reliance third-party two wheeler insurance?
No, there are no add-ons available along with the Reliance third party bike insurance. The add-ons are available only with the comprehensive insurance plan.
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Q3. Is there any personal accident cover provided by the Reliance third-party two wheeler insurance?
Yes, as per the rule laid by IRDAI, every bike insurance plan has to mandatorily provide a personal accident cover of up to Rs 15 lakh.
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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
