Owning a bike in India is a symbol of freedom, convenience, and independence. However, as per the Motor Vehicles Act, 1988, every motorbike owner is legally required to have at least third-party bike insurance.
Unlike comprehensive insurance, third-party coverage focuses on protecting others — covering damages or injuries you might cause to a third party in an accident. While it doesn’t cover your own bike, it is the most affordable and mandatory way to stay compliant with Indian law.
Thanks to digital innovation, buying third-party bike insurance online has never been easier. In this guide, we will walk you through how to buy third-party bike insurance online, step by step, with tips to choose the best policy for your bike.
What Is Third Party Bike Insurance?
Third-party bike insurance is a policy that covers:
- Bodily injury to a third party: Compensation for injuries or death caused to another person in an accident.
- Property damage: Compensation for damages to another person’s property caused by your bike.
It does not cover:
- Damage to your bike in an accident
- Theft, fire, or natural calamities
Key Advantage:
- It is affordable, making it ideal for budget-conscious riders or older bikes.
Benefits of Buying Third Party Bike Insurance Online
Purchasing your policy online comes with multiple advantages over traditional offline methods:
- Convenience: Buy anytime, anywhere, without visiting insurance offices.
- Time-Saving: Instant policy issuance in minutes.
- Digital Payments: Easy premium payment using credit/debit cards, UPI, or net banking.
- Policy Documents: Immediate digital download of your insurance certificate.
- Legal Compliance: Ensure your bike is always covered, avoiding fines.
Platforms like Square Insurance allow you to compare multiple insurers in one place and select the policy that best fits your needs.
Step-by-Step Guide to Buy Third Party Bike Insurance Online
Buying a third-party bike insurance policy online is simple if you follow these steps:
Step 1: Gather Required Documents
Before starting, ensure you have:
- Vehicle Registration Certificate (RC)
- Valid Driver’s License
- Previous insurance details (if renewing)
- Aadhar or ID proof for KYC purposes
Having these ready makes the online process smooth and error-free.
Step 2: Choose a Trusted Insurance Platform
Select a platform or insurance provider that offers reliable online services. You can either:
- Visit insurance company websites like ICICI Lombard, HDFC ERGO, Bajaj Allianz, or SBI General.
- Use an aggregator platform, which allows you to compare multiple insurers at once and choose the best price.
Pro Tip: Always check claim settlement ratio (CSR) and customer reviews before selecting an insurer.
Step 3: Enter Vehicle and Personal Details
You will need to fill in:
- Bike registration number
- Engine and chassis number
- Rider’s personal details (name, DOB, contact info)
Accuracy is crucial — incorrect details can lead to claim rejection.
Step 4: Compare Premium Quotes
Once your details are entered, the system will provide premium quotes from various insurers.
- Look for policies with affordable premiums but high reliability.
- Note if any optional add-ons are available (some insurers offer NCB protection, roadside assistance, or policy extensions even with third-party insurance).
Step 5: Make Payment
Pay the premium securely using online payment methods:
- Credit/debit cards
- UPI
- Net banking
Once payment is successful, you will receive a digital policy copy instantly.
Step 6: Download Policy Documents
After payment, download your insurance certificate (e-Insurance) and keep it safe:
- Save it on your phone
- Keep a printed copy as backup
This serves as proof of coverage and is legally valid.
Step 7: Renewal Reminder
Third-party insurance is typically valid for one year, though some insurers offer long-term policies (up to 3 years).
Set reminders or use your insurer’s online platform to renew on time, avoiding penalties for lapsed insurance.
Tips to Buy the Best Third Party Bike Insurance Online
- Compare Multiple Insurers: Platforms like Square Insurance let you compare coverage and premiums easily.
- Check CSR (Claim Settlement Ratio): Choose companies with a high CSR to ensure smooth claim processing.
- Read Policy Terms Carefully: Understand what is included and excluded.
- Choose Long-Term Policy If Affordable: Reduces hassle of yearly renewals.
- Use Add-Ons Wisely: Even third-party plans may offer extra features like roadside assistance or NCB protection.
Third Party vs Comprehensive Insurance
| Feature | Third-Party Insurance | Comprehensive Insurance |
| Legal Requirement | Mandatory | Optional |
| Covers Own Bike Damage | No | Yes |
| Covers Third-Party Damage | Yes | Yes |
| Premium Cost | Low | High |
| Recommended For | Older/budget bikes | New/high-value bikes |
Tip: If your bike is new or high-value, consider comprehensive insurance. For older bikes or strict budget management, third-party insurance is sufficient and mandatory.
Conclusion
Buying third-party bike insurance online is convenient, fast, and legally necessary. By following the steps outlined above, you can secure your bike, comply with the law, and avoid financial penalties.
Platforms like Square Insurance make it even easier, allowing you to compare insurers, check premiums, make payments, and download your e-policy instantly.
Remember: accuracy of details, timely renewal, and trusted insurers are the keys to a smooth insurance experience. With the right approach, you can ride your bike worry-free and stay fully compliant with the law.
FAQs – Frequently Asked Questions
- Is third-party bike insurance mandatory in India?
Yes. It is legally required under the Motor Vehicles Act for all registered two-wheelers. - Can I buy third-party insurance online?
Absolutely. You can buy it via insurer websites or aggregator platforms like Square Insurance in a few minutes. - How long is a third-party bike insurance valid?
Typically, one year. Some insurers offer long-term policies of 2–3 years. - Does third-party insurance cover theft or accident damage to my bike?
No. Third-party insurance only covers damages or injuries to others. For your own bike, you need comprehensive insurance. - Can I renew third-party insurance online?
Yes. Most insurers and platforms allow instant online renewals with digital documents.
