For you, your bike is a matter of pride and joy, so it is necessary to secure it with a right two-wheeler insurance policy. When it comes to insuring a vehicle, there are two types of motor insurance policies available in the market— third-party and comprehensive insurance policy.
While, both the policies offer coverage, it is imperative to be clear about the benefits of each of the covers. So, let’s start.
What does third-party insurance mean?
Also, known as the ‘act only’ cover, third-party insurance is a statutory requirement to ply your vehicle on Indian roads. It is known as a third-party insurance because the beneficiary of the policy is other than the policyholder. Though, the policy doesn’t offer any direct benefit to the insured, it offers a third-party legal liability coverage to the policyholder.
