Cholamandalam Third-party Two-Wheeler Insurance
No matter what model of two-wheeler you own, you have to have third-party two-wheeler insurance. Having dedicated Third-party two-wheeler insurance provides basic coverage and is mandatory by Law while driving on the Indian streets. It protects you against third-party liabilities such as injuries to someone or damages to their property while riding your bike. If you don’t own one, then you will likely pay a huge fine when caught by traffic police. So, it wouldn’t be wrong to say that owning a third-party bike insurance may not only protect your beloved two-wheeler from traffic challans but also offer coverage against third-party liabilities.
If you are looking to buy third-party bike insurance, then considering Cholamandalam third-party two-wheeler is an ideal choice. Let’s dig down deep into every aspect that you may need to know about third-party bike insurance from Cholamandalam.
Cholamandalam General Insurance has been assisting thousands of people during unforeseen incidents in life. The third-party bike insurance coverage from Cholamandalam assists policyholders in fulfilling legal requirements. It offers minimal coverage by handling the insured’s bike’s debts to third parties, both monetary and legal.
Policyholders can avoid paying for any losses or damages to third parties brought on by the insured’s bike by purchasing Cholamandalam third-party bike insurance. To guarantee maximum assistance and a hassle-free experience for policyholders, Cholamandalam General Insurance has set up an online portal and an active help desk.
Key Features and Benefits of Considering the Third-Party Two-Wheeler Insurance from Cholamandalam
The following are the key features and benefits of Cholamandalam Third-Party two-wheeler insurance.
Having third-party bike insurance from Cholamandalam protects you financially by assuming liability for harm your covered two-wheeler may cause to another person, piece of property, or automobile. If not, covering all of these expenses out of your cash is a significant responsibility.
Easy Online Processing:
Purchasing third-party bike insurance from Cholamandalam via the online method has several advantages, one of which is its ease of use and minimal documentation requirements. This doesn’t cover your insured vehicle; therefore, the processing is easy and quick.
When compared to other insurance products and add-ons, purchasing third-party two-wheeler insurance in Cholamandalam is less expensive. For a minimal premium, you receive greater risk coverage.
Peace of Mind:
When you get third-party two-wheeler insurance from Cholamandalam, you can relax and be ready to handle situations that could financially burden you or otherwise prove to be extremely stressful.
What is Included Under Cholamandalam Third-Party Bike Insurance?
Though there are many things covered under the Cholamandalam third-party two-wheeler insurance, we’ll discuss a few of them to help you understand its inclusions. Let’s discuss them in detail!
Third-Party Death or Bodily Injuries:
Third-party two-wheeler insurance from Cholamandalam kicks in in the event a third party is involved in an accident caused by your two-wheeler that results in fatalities or serious injuries. You can file a claim for any incurred medical costs and income loss brought on by the third party’s disability or death. You may also be entitled to compensation for income loss brought on by physical impairments.
Property damage to the third party:
Following IRDA regulations, third-party two-wheeler insurance can cover costs if your vehicle destroys a third party’s property.
Death of the Insured two-wheeler’s owner/driver:
The dependents of the insured two-wheeler owner or rider may be entitled to compensation for the unexpected and sudden loss of income.
Permanent total disability of Insured two-wheeler’s owner/driver:
The owner or rider of the covered two-wheeler will be eligible to claim compensation if they sustain a permanent complete disability as a result of the accident. You are protected with third-party bike insurance from costs associated with third-party losses and injuries, as well as from losses to your two-wheeler brought on by uninsured motorists.
What is Not Covered Under the Cholamandalam Third-Party Two-Wheeler Insurance?
Let’s discuss the things not covered under the third-party two-wheeler insurance from Cholamandalam.
- Damage/loss due to speeding
- Damage/loss to a two-wheeler or a third-party liability arising beyond the stated geographical area
- Damage/loss by an under-age or unauthorised rider
- Damage/loss due to irresponsible behaviour like loss of keys or driving while intoxicated
- Damage/loss/liability caused by terrorist attacks, riots, war, invasion, or nuclear weapons
- Electrical or mechanical failure
- Use of the two-wheeler for other than stated purposes, such as commercial purposes, without informing the insurer.
Frequently Asked Questions
Listed below are the frequently asked questions related to the Cholamandalam third-party bike insurance.
Every insurance coverage is constrained to a specific geographic area. Any loss or damage that occurs outside of the specified geographic area is not covered by the Cholamandalam third-party bike insurance.
Yes, the Cholamandalam third-party bike insurance provides compensation for the loss of income of the third party due to physical disability.
The Cholamandalam third-party bike insurance coverage cannot be extended in any way. You can choose the Cholamandalam comprehensive bike insurance if you want substantial coverage.
It is required by law that you have third-party bike insurance from Cholamandalam. In the event of an accident or incident, it solely provides financial protection for third-party liability.
Yes, you can change your insurance coverage during an insurance renewal from Third-party to Comprehensive and vice versa.
No, you must purchase a Comprehensive two-wheeler insurance coverage in order to choose IDV. This is due to the fact that the IDV concept only applies to Own Damage, which is not covered by Third-party bike insurance.