Which is better Third Party Two Wheeler Insurance or Comprehensive Coverage?

—In India, two-wheelers i.e. motorcycles, scooters, etc. are probably the most chosen mode for daily transportation. Not having a right insurance can turn out to be even more expensive during major accidents. People get confused between the third party and comprehensive two-wheeler insurance.

Let’s see what the difference between the two is and which is better?

Why comprehensive insurance?

A comprehensive two wheeler insurance policy covers the vehicle against theft, loss, and damage. This coverage will also cover personal accidental expenses incurred for the policyholder or rider in case of an accident.

What is covered under comprehensive insurance?

Comprehensive Insurance covers any injuries and damage expenses for individual as well third party expenses due to accidents, fire, theft, natural calamities, etc.

What is not covered under comprehensive insurance?

Damages caused due to:

• Mechanical or electrical breakdown

• Driving without a valid driving license

• Driving under the influence of drugs or alcohol

Why third-party liability insurance?

Third party insurance will protect against damage/loss of the third party or third party property.

As it is mandatory by law to have insurance thus people with fewer budgets or just for formality basis buy this insurance.

Apart from third party expenses, it also covers policy holder expenses which can be avail as add on cover.

What is covered under third party insurance?

Third-Party Insurance covers the damages caused to an individual or third party due to accident.

What is not covered under Third-Party Insurance?

• Damage caused to the vehicle of the policy holder.

• Injury caused to policyholder

• Damage caused due to-Theft, Natural calamities, Fire, Civil disturbance, Mechanical or electrical breakdown

• Driving without a valid license

• Driving under the influence of drugs or alcohol

• When the policy is not active or expired.

The conclusion which is better?

The decision of buying an insurance coverage is completely dependent on the customer. But experts suggest one should buy comprehensive coverage as it will cover individual’s personal cost as well as third party expenses. A lower premium should never be a matter of a concern when considering the number of road accidents in our country. It’s better to invest some money now in vehicle insurance rather than wasting money on high medical and maintenance bills.

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