Shriram Third-party Two Wheeler Insurance

Shriram General Insurance is a reliable insurance provider that has minimized the uncertainties on the road through its bike insurance policies. Shriram’s third-party bike insurance policy is a cost-effective solution to fulfill the mandatory requirement of the law as well as to get rid of third-party liabilities arising out of accidents due to the insured’s bike. Shriram General Insurance has digitalized the purchase of third-party bike insurance. It has set up an efficient support team to assist the policyholders through the process. Shriram’s third-party bike insurance policy provides the basic coverage for financial and legal liabilities of the insured’s bike towards the third party. It has to be remembered that a third-party liability-only insurance policy is a mandatory policy to have if you are a two-wheeler owner, as per the Motor Vehicles Act of India.

The following benefits are provided.

Liability to Third Parties:

The Company will indemnify the insured in the event of an accident caused by or arising out of the use of the two-wheeler anywhere in India against all sums, including the claimant’s costs and expenses, which the insured shall become legally liable to pay in respect of-

• The death of or bodily injury to any person so far as it is necessary to meet the requirements of the Motor Vehicles Act.

• Damage to property other than property belonging to the insured or held in trust or in the custody or control of the insured up to the limit specified in the schedule.

Legal Liabilities:

The Company may, at its own option-

• Arrange for representation at any Inquest or Fatal Inquiry in respect of any death that may be the subject of indemnity under this Policy and

• Undertake the defense of proceedings in any Court of Law in respect of any act or alleged offense causing or relating to any event which may be the subject of indemnity under this Policy.

Personal Accident Cover for the Owner-driver:

The policy undertakes to pay compensation as per the following scale for bodily injury/ death sustained by the owner-driver of the bike caused by violent, accidental, external, and visible means which independently of any other cause shall within six calendar months of such injury result in