Importance of Third-Party Insurance

Paying for an expense that involves the repair of your vehicle is less painful than paying for an expense incurred for the repair of someone else’s vehicle. If you want to get rid of this unnecessary pain, you need to have third-party bike insurance or car insurance in place. Additionally, as a law-abiding citizen of the country, all vehicle owners must have a car/bike insurance plan as it is mandatory as per the Motor Vehicles Act 1988.

How does third-party car/bike insurance work?

In case you meet with an accident and a third-party individual or vehicle is hurt or damaged from your vehicle, you become liable to pay for the hospitalization cost of the injured person or damaged vehicle. However, in case you have a car/bike insurance plan in place, you do not have to worry about these additional costs.

- Your insurer will pay for the costs incurred in case of third-party damage up to the limit of the sum insured.

- Your insurer will pay for the costs incurred in case if a third-party individual is hurt and hospitalized.

- The insurance plan also protects you in case of a legal issue that arises due to an accident.

- The insurer also covers the expense incurred in case of the demise of the third-party individual due to an accident in your vehicle.

Benefits of third-party car insurance

- Provides a huge financial cover at affordable premiums

- You can also avail of an upgrade in case you want to include your car in the plan to protect it against any form of damage. You can also opt for a personal accident cover for yourself.

In case you want to avail a car insurance or bike insurance cover, you can simply log in to Bajaj Finserv website and avail a plan of your choice.

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