Insurance Policy For Bike 3rd Party. The same is mandatory by law, without which you could be liable for a fine of rs 1,000 to rs 2,000. It will vary depending on the person and type of coverage.
The same is mandatory by law, without which you could be liable for a fine of rs 1,000 to rs 2,000. A third party is considered to be an individual other than the insurance company and the bike owner. “third party” include everyone (other than the contracting parties to the insurance policy), be it a person travelling in another vehicle, one walking on the road or a passenger in the vehicle itself which is the subject matter of insurance policy.
Yes,you can buy a third party insurance policy and it is mandatory as per the motor vehicle act.
Third party only car insurance policy is an insurance cover which insures you against all the third party legal liabilities which may arise due to any mishap such as a road accident involving your car. The plan covers the following risks. It does not provide insurance protection to the bike or the owner. The best prices are guaranteed.