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Not sure if you really need comprehensive cover for your motorcycle? Consider insulating yourself against the very worst misfortunes with a third party policy instead. If you don’t need much but aren’t willing to go out without some protection, this is for you.
Third party insurance will pay the bills for any damage your motorcycle causes in an accident or collision, including things like medical costs and repair or replacement bills for other people’s property. Usually, this legal liability applies up to some limit (generally $20 million).
Some third party plans include extra cover for other things, such as:
Third party motorcycle insurance does not pay for any damage your own motorcycle sustains in an accident. This sets it apart from something like a comprehensive policy, which allows you to have your bike repaired or even replaced for much less after a collision.
Essentially, third party insurance only covers damage from third parties – anything which doesn’t involve you. If you had anything to do with the incident, third party insurance won’t help you out.
As always, when it comes to determining the price of a third party policy, insurers take a number of different factors into account to decide your individual risk. Here are a few questions worth asking before taking out a policy.
Here are some general exclusions that will apply to most third party insurance policies. Your motorcycle won’t be covered:
Picture: Unsplash
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