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TATA AIG Third Party Bike Insurance
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TATA AIG Two Wheeler Insurance Highlights
Tata AIG General Insurance Company Limited is a joint venture between the Tata Group and the American International Group (AIG). Tata AIG General Insurance Company Limited celebrated 20 years of service as on 2020, since it commenced operations on January 22, 2001. The company has made a mark in the industry by launching several innovative products and services over the years.
Claim Settlement Ratio
Suppose you end up in an accident on your insured bike. In that case, third party insurance will financially cover the damages (injury or death, damage to vehicle or property, legal liabilities) caused to the third party only. The Motor Vehicles Act of India has made it compulsory for every vehicle owner to buy at least third party insurance. This policy offered by TATA AIG keeps you legally covered against all third-party liabilities hence also gives peace of mind.
How does TATA AIG Third Party Bike Insurance Policy Work?
The third party policy of TATA AIG bike insurance financially and legally protects the first party (you) in case of an accident that causes any damage (partial/complete) to the third party (person/vehicle/property).
Firstly, TATA AIG third party bike insurance financially covers the damages incurred by the third party vehicle or property (fence, walls, etc.).
Secondly, if the third party is injured, the third party insurance will cover the hospitalization and other medical costs. It will also cover third-party claims of disability or if there is death.
Thirdly, the third party insurance financially covers the cost of legal procedures, if any, or liabilities.
TATA AIG Third Party Bike Insurance Vs. Comprehensive Bike Insurance
|Particulars||Third Party Bike Insurance||Comprehensive Bike Insurance|
|Definition||Financial & legal coverage against all damages caused by insured bike to third party only.||Extensive coverage against all damages to insured as well as the third party.|
|Details of Coverage||Covers legal liabilities, injuries(or death) to person, and damages to the vehicle (or property) of the third party only.||Legally and financially covers the third-party liabilities, cover and protect against damage to your bike.|
|Add-on covers||None||You can choose from many add-on covers.|
|Premium||Low (IRDAI standardized rates)||High (extensive coverage )|
|Necessity||Mandatory to buy.||Optional to buy.|
How to Buy TATA AIG Third Party Bike Insurance Policy Online?
Follow the steps below to buy TATA AIG third party two wheeler insurance online –
- Go to the bike insurance page, enter the registration number of your bike, & click 'Get Price.'
- If you wish to renew an existing policy, click 'Renew.'
- Provide the details asked & choose third party insurance.
- Get the quotes & purchase TATA AIG two-wheeler third-party insurance online.
What All is Covered Under TATA AIG Third Party Bike Insurance Policy?
- All liabilities arising from injuries (or death) to a third party individual in an accident.
- All liabilities arising from damages to the vehicle (or property) of the third party.
What All is not Covered Under TATA AIG Third Party Bike Insurance Policy?
- Own damage or those to the insured bike
- If the rider of the insured bike does not have a valid licence
- If the owner-rider of the insured bike is drunk at the time of the accident
- If the accident occurs beyond the 'geographical scope' of the coverage (outside India)
- Normal wear & tear and electrical & mechanical breakdown of the bike
- At war or related scenarios, the range is not effective.
Key Benefits of Purchasing TATA AIG Third Party Bike Insurance
- Hassle-free documentation
- Easy online process
- Freedom from financial obligation to any third party
- Adherence to the mandate under the Motor Vehicles Act of 1988
- Stress-free biking experience with the TATA AIG cover
TATA AIG Third Party Bike Insurance Review
The company has a huge network of garages hence allows you to have easy and hassle-free claim settlement. When it comes to buying third-party bike insurance, the steps are quite simple and can be availed online.
Add ons for your Two Wheeler Insurance
TATA AIG Third-party Bike Insurance FAQs
1. Can I get zero depreciation cover with TATA AIG third-party bike insurance?
No. The advantage of the zero depreciation add-on can’t be clubbed with TATA AIG two-wheeler third- party insurance.
2. What is the claim process for TATA AIG third-party bike insurance?
The claim process includes:
- You must have photos/videos of the third-party bike/property damage.
- You must have noted the credentials & contact information of the third party individual/s and eyewitnesses.
- You must inform TATA AIG. Then, you have to make an FIR at the police station in whose jurisdiction the accident took place.
- You will have to make a plea petition at the Tribunal Court for the Motor Accidents Claim with all the necessary documents.
- You need to apprise TATA AIG of the Court's verdict. It will determine the compensation accordingly.
3. Will the TATA AIG third-party bike insurance cover damages if someone else was riding my insured bike?
Yes. Even if someone other than the owner is riding the bike at the time of accident, the third-party liabilities are still covered.
4. Will TATA AIG third-party bike insurance cover if the accident happens in a different city/state?
Yes. Even if the accident with your insured bike takes place in some other state, TATA AIG third-party bike insurance covers the third-party liabilities.
5. Is TATA AIG third-party bike insurance enough protection for my bike?
No. It is enough only to cover third-party liabilities & to adhere to the Motor Vehicles Act, 1988 mandate. It would be best to have TATA AIG comprehensive bike insurance for complete protection.
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