Shriram Third Party Bike Insurance

Starting at only ₹1.5 per Day*

Two wheeler Insurance banner image
Enter your details to buy Bike Insurance
By proceeding you agree to Terms & Conditions
Proceed without two wheeler number
  • compare buy
    Compare and buy at best price
  • instant policy
    Instant Policy Issuance
  • no unwanted calls
    No unwanted calls. We promise!

Two-wheelers are the most common means of daily transportation in India. A two-wheeler is widely regarded as excellent in terms of mobility and convenience. In India, it is mandatory to have third-party two-wheeler insurance for bike owners. As the name implies, Shriram third-party two-wheeler insurance provides financial protection for two-wheelers such as bikes, scooters, and other similar vehicles against third-party liabilities. 

How does Shriram Third Party Two Wheeler Insurance Policy Work?

The most basic sort of two-wheeler insurance policy is Shriram third-party two-wheeler insurance. It covers all third-party obligations caused due to road accidents or other catastrophes involving the insured's bike. While a court in cases of third-party physical injury or death, decides the compensation amount, the same for third-party asset damage is limited to INR 7.5 lakh only. 

For example, if you get into a bike accident with another rider, your third-party bike insurance will pay for the other rider's losses. However, it would not be able to cover damages and losses to your bike.

Shriram Third Party Two Wheeler Insurance Vs Comprehensive Two Wheeler Insurance

Basis Third-party Bike InsuranceComprehensive Bike Insurance
NecessityThe Motor Vehicles Act, 1988, makes third-party bike insurance mandatory in India.This policy is optional to buy as it totally depends upon the policyholders.
Coverage providedThe coverage provided by this policy is limited. A third-party liability bike insurance policy will only cover third-party damage or loss.This policy includes a lot of protection. Theft, loss, and damage to your bike will be covered. It also provides financial assistance in the event of third-party loss or property damage.
Add-onsThis policy doesn’t allow you to include add-ons.You can choose various add-on covers with this policy.
Premium amountBike insurance premium for a third-party policy is less expensive.A comprehensive bike insurance policy is expe.

How to Buy Shriram Third Party Two Wheeler Insurance?

Shriram two wheeler third party insurance online or buying two-wheeler insurance from Shriram Insurance is a straightforward process. Below are the steps to buying the best vehicle insurance with the company:

Step:1

Visit the official website of Shriram Insurance and provide information about your vehicle, such as its RC, make and model.

Step:2

Choose the two-wheeler insurance plan that aligns with your budget and requirements. Also, read the complete details, terms, and conditions properly.

Step:3 

Pay your policy amount online and receive your auto insurance document in your inbox immediately.

What All is Covered Under Shriram Third Party Two Wheeler Insurance Policy?

  • Shriram third-party bike insurance policy covers death and bodily injury suffered to a third party due to an accident caused by the covered two-wheeler.
  • Shriram two-wheeler third-party insurance covers any damage to third-party property or vehicle caused in an accident by the insured two-wheeler.

What All is not Covered Under Shriram Third Party Two Wheeler Insurance Policy?

Accidental Own Damages- In case of an accident own damages of an insured and his bike will not be covered by the insurance company. 

Riding Drunk - Because this is against the law, any claims made after you were caught riding while inebriated will be denied.

Riding a Two-wheeler without a Licence or Policy - A licence is mandatory for 18+ drivers by law. However, if it is discovered that you were without a valid licence or policy, your bike insurance claim would be denied.

Consequential Damages - These are any damages or losses that occur after the accident. As a result, such losses will not be covered by your bike insurance claim unless you've purchased a specific add-on that includes it.

Contributory Negligence - To put it another way, don't do things you shouldn't. If you file a claim for damage or loss caused by your negligence, your claim will be denied.

Add-ons not Purchased - You certainly cannot reap the benefits of an add-on if you have not purchased it. As a result, always choose useful add-ons before a crisis arises. You never know when you'll need anything.

Key Benefits of Purchasing Shriram Third Party Two Wheeler Insurance

  • Coverage for liabilities on third-party
  • Eliminate legal issues
  • Protection against traffic fines
  • Instant policy issuance
  • Quick and easy claim settlement

Shriram Third Party Two Wheeler Insurance Review

Shriram Insurance is a dependable company when it comes to buying two-wheeler insurance for your most prized possession. The company always puts the interests of its customers first, providing round-the-clock help for emergency breakdowns and a simple claims process. Throughout your journey, you can expect the company to be supportive and dependable.

Shriram Third-party Bike Insurance FAQs

  • 1. What is the basic difference between Shriram two-wheeler insurance and comprehensive insurance?

    As a basic difference, we can mention that Shriram third-party two-wheeler insurance only covers the liability of a third-party individual whereas comprehensive policy covers both own damages as well as third-party liabilities.

  • 2. Can Shriram third-party insurance allow me to buy add-ons?

    No, Shriram third-party bike insurance insurance doesn’t allow you to buy add-on covers.

     

  • 3. How can I get NCB on Shriram third-party bike Insurance?

    You cannot get NCB benefits with a third-party bike insurance policy.

  • 4. Is it mandatory to have third-party insurance for a two-wheeler in India?

    Yes, third-party bike insurance is mandatory under the Motor Vehicles Act of India.

  • 5. What is the amount of maximum compensation of Shriram Third Party Two Wheeler Insurance?

    The maximum compensation in case of third-party property damage is up to INR 7.5 lakh, but in case of third-party death there is no fixed compensation as the same will be decided by the Court of Law.

Recent Articles

View All
https://insurance-blog-cms.paytminsurance.co.in/178_Two_Wheeler_Insurance_What_Is_Endorsement_In_Two_Wheeler_Insurance_Policy_8_2610143400.jpg

It's All About Selecting No-claim Bonus (NCB) During Bike In...

Select the appropriate no-claim bonus percentage while renewing your bike insurance policy and save significan...

Read More
https://insurance-blog-cms.paytminsurance.co.in/170_Two_Wheeler_Insurance_All_You_Need_To_Know_About_Multi_year_Two_wheeler_Insurance_7_12297fb5dd.jpg

Renewal of IFFCO-Tokio Two-wheeler Insurance Online: A Compr...

Renewing your two-wheeler insurance online is easier, faster, and simple and doesn't require paperwork. Follow...

Read More
https://insurance-blog-cms.paytminsurance.co.in/178_Two_Wheeler_Insurance_What_Is_Endorsement_In_Two_Wheeler_Insurance_Policy_8_2610143400.jpg

Steps to Claim Reliance Bike Insurance

It's a big relief if you have someone who will cover all your financial losses that may incur in the future du...

Read More
https://insurance-blog-cms.paytminsurance.co.in/178_Two_Wheeler_Insurance_What_Is_Endorsement_In_Two_Wheeler_Insurance_Policy_8_2610143400.jpg

Steps to Claim Bike Insurance at HDFC Ergo

All bike insurance policyholders expect an easy and hassle-free claiming facility from their bike insurance co...

Read More
https://insurance-blog-cms.paytminsurance.co.in/170_Two_Wheeler_Insurance_All_You_Need_To_Know_About_Multi_year_Two_wheeler_Insurance_7_12297fb5dd.jpg

Off-road Bike Insurance: All You Need to Know

Youngsters in India are very adventurous and love to do off-road riding. It is always advisable to purchase bi...

Read More
https://insurance-blog-cms.paytminsurance.co.in/185_Two_Wheeler_Insurance_How_To_Transfer_Your_Insurance_Before_Selling_Your_Second_Hand_Bike_2_775fd4ea87.jpg

Different Types of Bike Insurance and Its Variants

What are the different variants of bike insurance available at the moment? Read on to find out the various typ...

Read More
https://insurance-blog-cms.paytminsurance.co.in/178_Two_Wheeler_Insurance_What_Is_Endorsement_In_Two_Wheeler_Insurance_Policy_8_2610143400.jpg

Bike Insurance: Should You Buy It from Bike Dealers?

Do you need to buy insurance from a bike dealer? Is it mandatory? The answer may surprise you. Read more to de...

Read More
https://insurance-blog-cms.paytminsurance.co.in/185_Two_Wheeler_Insurance_How_To_Transfer_Your_Insurance_Before_Selling_Your_Second_Hand_Bike_2_775fd4ea87.jpg

Everything You Need to Know About Acko Bike Insurance Before...

Acko bike insurance provides two bike insurance policies considering your requirements. They offer mainly thir...

Read More
https://insurance-blog-cms.paytminsurance.co.in/175_Two_Wheeler_Insurance_Checklist_For_A_Long_Road_trip_On_Your_Two_Wheeler_5_f6d2ccb954.jpg

Bike Insurance Premium for 125cc Engine

Bike insurance varies because of many factors, and one among them is bike capacity. Know the insurance policy ...

Read More