Third Party Bike Insurance

What is Third Party Bike Insurance?

A Two Wheeler Third Party Insurance policy is designed to protect you against damages (including death, bodily harm, injury or death, and damage to property) to a third party due With a comprehensive third party bike insurance policy, you would automatically have the confidence to take your mean machine to the roads and get a little mud on the tyres.

We realize that you could be running on a tight schedule and don’t have much time to devote to policy purchase. That’s the reason why we’ve designed our online two wheeler insurance purchase and renewal process to be convenient and not eat into your time.

All you need to do is click on the Two Wheeler (Liability Only) option and our user-friendly portal will guide you thereon. Should you get stuck at any point or want further clarification, you can talk to our experts who will ease you into the process and help you zero in on the plan that suits you the best.

In case of any query related to claims, we are just a single call away. Our round-the-clock experts will assist you with queries and clarifications, all and sundry. Bajaj Allianz 24x7 call centers will also help you with instant updates about the current status of your claim.
We take pride in offering prompt and extensive claim assistance to guide you through the complex legal procedures involved in a third party liability claim.

Policy Information 

●      Cover for Financial Obligation: It protects you against possible legal and financial obligations that may arise from damages caused to a third party. This third party can either be a person or his/her property.

●      Lower Premium: Since it provides coverage against damages to a third party, this policy is more financially affordable and involves lower premium outgoes as compared to a more exhaustive vehicle insurance plan.

●      Simple Documentation: Considering that two wheeler third party insurance doesn’t have anything to do with your vehicle, it involves lesser and simpler documentation vis-à-vis the conventional motor insurance policy.

Why Do You Need Third-Party Two Wheeler Insurance?

Third-party insurance isn’t just a legal formality—it’s a practical necessity:

●      It shields you from financial liability in case you injure someone or damage their property.

●      Even in minor mishaps, compensation can run into thousands and this policy saves you from paying out of pocket.

●      It's compulsory under the Motor Vehicles Act in India—riding without it can lead to fines or vehicle impoundment.

It’s affordable and easy to renew annually or as a multi-year plan.

Key Features of Third-Party Bike Insurance

Third-party bike insurance, also known as Third-Party Liability (TPL) insurance, is a form of two-wheeler insurance in India. It financially protects you from legal and financial liabilities arising from injuries or property damage caused to a third party (people or vehicles) by your bike in an accident. In simpler terms, if you cause an accident and injure someone or damage another person's car or property, this insurance covers the costs associated with those damages.

Key Benefits of Third-Party Bike Insurance

●      Financial Protection: It safeguards you from substantial financial burdens if you cause an accident, injure someone or damage another person's property. Legal costs and third-party damage repairs can be significant.

●      Peace of Mind: Knowing you have this basic coverage allows you to ride with greater peace of mind.

●      Legal Compliance: Owning and riding a two-wheeler in India requires a valid third-party bike insurance policy. Driving without it can lead to fines and vehicle seizure.

Premium Rates of Third-Party Bike Insurance

Under IRDAI regulations, third-party two-wheeler insurance premiums are categorised based on engine capacity:

●      Up to 75cc: ₹538

●      75cc – 150cc: ₹714

●      150cc – 350cc: ₹1,366

●      Above 350cc: ₹2,804

These standard rates apply across insurers for both new and renewal policies. Multi-year policies (up to 5 years) are also available, offering cost stability and regulatory compliance in one go. Bajaj Allianz General Insurance Company follow these slab rates while offering added value such as 24x7 support and paperless claims.

Factors that Affect Third-Party Bike Insurance Premium 

●      Cubic Capacity (CC) of the bike

●      Policy duration (1 year vs multi-year)

●      Type of vehicle (private/commercial use)

●      Geographic location (urban areas may face higher risk exposure)

●      Optional add-ons (e.g., PA cover, legal liability cover)

How to Calculate a Third-Party Two-Wheeler Insurance Premium 

To estimate your two-wheeler insurance premium, insurers use online calculators that consider factors such as your bike’s make, model, engine capacity, location, and age. While the insurer performs the exact calculation, these tools give you a rough estimate.

Third-party insurance costs are primarily determined by these variables, ensuring you get a ballpark figure before finalising your insurance purchase. It’s a helpful tool for understanding potential costs and planning your budget effectively.

These calculators simplify the process by providing quick insights into the financial aspect of insuring your bike, ensuring transparency and helping you make informed decisions about your insurance coverage.

Third-Party Bike Insurance Compensation: How Does it Work? 

In case of a road mishap involving a third party, this insurance covers:

●      Bodily injury or death of a third party

●      Third-party property damage (up to ₹7.5 lakh)

●      Legal expenses arising from third-party claims

It does not cover damages to your own vehicle. Claims are generally routed through the Motor Accident Claims Tribunal. With Bajaj Allianz General Insurance Company, you get expert claim assistance and guidance through every step. They also offer access to 7,200+ cashless garages, ensuring support is never far away—even if only own damage is relevant in those cases.

Compensation Offered under Third-Party Bike Insurance Policy 

Two wheeler third-party insurance covers:

●      Third-Party Bodily Injury: Covers medical expenses, disability compensation, or death benefits for third parties injured in an accident caused by your bike.

●      Third-Party Property Damage: Covers repairs or replacement costs for property damaged by your bike, including other vehicles, buildings, or infrastructure.

Please note : Third-party bike insurance does not cover repairs to your own bike or injuries to yourself or your pillion rider.

Long Term Third Party Bike Insurance Policies for New Two-Wheeler Owners  

Third-party bike insurance policies usually span 1 year, Bajaj Allianz offer long term policy for longer durations. Renewing your policy on time is important to maintain uninterrupted coverage and avoid gaps in protection. Timely renewal ensures compliance with legal requirements and safeguards against financial liabilities arising from accidents or third-party damages. It also preserves any accumulated benefits, such as No Claim Bonus (NCB), which can significantly reduce premiums upon renewal.

By staying proactive and renewing on schedule, you ensure ongoing financial security and peace of mind, knowing that your bike and liabilities are adequately covered at all times.

How Does the CC (Cubic Capacity) of a Bike Affect Third-Party Insurance Premium? 

The engine’s cubic capacity (CC) is the primary factor for determining third-party premiums. Higher CC means more power, speed and risk, resulting in higher premiums. For instance:

●      A 100cc scooter pays less than a 250cc sport bike.

●      IRDAI slabs increase with each engine bracket.

Most insurers clearly list CC-based slabs so you can plan accordingly.

Documents Required for Third-Party Two-Wheeler

File a police complaint at the nearest police station immediately. Once you receive the charge sheet, call us on our toll-free number and our representative will initiate the process. The documents required from you will be as below:

- In case of Injury/death - Documents (hospital bills, treatment expense invoice) in relation to the injury will be required. In case of a death, a death certificate and a confirmation from the motor accident claims tribunal would be needed to be submitted to us.

- In case of Property damage - An inspection officer’s report from the motor accident claims tribunal, original bills and surveyor’s report to make an estimation of the loss incurred to the third-party property will be needed to be submitted.

Important To Dos 

Making sure you take photographs of the spot of the accident and the exact location and position of the vehicle as it is on the spot of the accident
- In case you are providing a treatment to the any injured person/s, you will need to note the name of the hospital and the treating doctor which would be required to be informed to us
- Provide all the relevant factual details to ensure your claim is not rejected due to false information.
With Bajaj Allianz Two Wheeler Third Party Insurance policy, you don’t have to run from pillar to post with papers for renewal anymore. Just log onto to our website, navigate
- Policyholder details such as name, gender, residential address, date of birth
- Driving license copy
- Registration certificate and number of the vehicle
- Proof of address
- Existing policy number

How to Buy/Renew a Two Wheeler Third Party Insurance Policy Online

Bajaj Allianz General Insurance provide the option to purchase or renew third-party insurance online for two-wheelers. This modern approach offers a seamless and paperless experience, allowing you to complete transactions swiftly without the need for physical documentation. By using digital platforms, you can compare different plans, check coverage details, and select the most suitable policy from the comfort of your home or office. It saves time that would otherwise be spent visiting insurance offices and also ensures instant policy issuance and hassle-free management of your insurance needs with just a few clicks.

How Can I Renew My Two Wheeler Liability Only Policy 

Lo and behold! Renewing your bike third party insurance policy isn’t optional any longer, as is mandated by relevant sections of the motor vehicles act, 1988.

And the good news here is that renewing your coverage is a breeze, considering our convenient online renewal portal. All you have to do is keep tabs on the expiry date. Policy renewal that’s done well within the date of expiry (of the original policy) allows you to avoid additional inspection.

How to Claim Third-Party Bike Insurance with Bajaj Allianz 

In case of an accident involving third-party insurance online for two-wheelers while insured with Bajaj Allianz, follow these general steps:

●      Inform the Authorities :File a police report (FIR) at the nearest police station.

●      Intimate Bajaj Allianz :Contact Bajaj Allianz General Insurance Company and inform them about the accident.

●      Gather Documents :Collect necessary documents like the FIR, driving license, RC book, and any medical bills (if applicable).

●      Claim Process :Submit the documents to Bajaj Allianz General Insurance Company for claim processing. They will then contact the third party and settle the claim amount as per policy terms.

Documents Required for Third-Party Bike Insurance Claim 

●      FIR or police report

●      Claim form

●      Registration certificate (RC) of the bike

●      Driving licence of the insured

●      Policy document

●      Proof of expenses or damage (if applicable)

Basis of Arriving at Insured Declared Value (IDV) of the Insured Vehicle 

List of products specified in the list above are governed by the Indian Motor Tariff.

The Insured’s Declared Value (IDV) of the vehicle will be deemed to be the ‘Sum Insured’ and it will be fixed at the commencement of each policy period for each insured vehicle.

The IDV of the vehicle (and accessories if any fitted to the vehicle) is to be fixed on the basis of the manufacturer’s listed selling price of the brand and model of the insured vehicle at the commencement of the Policy. The IDV shall change according to the depreciation grid below for each block of one year within the policy period.

The Schedule of Depreciation for Fixing IDV of the Vehicle 

The IDV arrived as per the above method may be further adjusted basis various factors such as location, make and model etc, with agreement of the Insured and as captured in the Policy Schedule.

The age-wise depreciation schedule shown above is applicable only for Total Loss/Constructive Total Loss (TL/CTL)/Cash Loss claims.

IDV of vehicles beyond 5 years of age and for obsolete models (i.e. models that manufacturers have discontinued) is to be determined on the basis of mutual agreement between the Insurer and the Insured.

IDV shall be treated as the Market Value throughout the Policy Period without any further depreciation for the purpose of Total Loss (TL)/Constructive Total Loss (CTL)/Cash loss claims.

Basis of Arriving at TL (Total Loss)/CTL (Constructive Total Loss) of the Insured Vehicle:  

The insured vehicle shall be treated as a CTL if the aggregate cost of retrieval and/or repair of the vehicle, exceeds 75% of the IDV of the vehicle, subject to terms and conditions of the policy.

The liability of the Company shall not exceed the Insured's Declared Value (IDV) of the vehicle in the event of total loss/ constructive total loss/cash loss for the year in which loss has occurred. IDV as on date of loss shall be computed as specified under basis of arriving at Insured Declared Value (IDV)

If a damaged motor vehicle is assessed as being unrepairable and hence a wreck i.e. a ‘total loss’ or ‘write-off’, You shall have the option to retain the wreck and accept a ‘cash loss’ settlement (being the IDV less the assessed value of Salvage based on competitive quotes procured by the Insurer including any submitted by or through the Policyholder).

Note: For the purpose of computation TL (Total Loss)/CTL (Constructive Total Loss) of the Insured Vehicle aggregate cost of retrieval shall mean Company’s aggregate liability as per the terms and conditions of the policy.