A two- wheeler insurance policy provides financial cover to bike ,scooty or scooter against physical damage, theft and third party liability. With poor conditions of roads in India, and sometimes unpredictable weather, Two wheeler insurance is a necessity for ever bike rider.
For better understanding of insurance, there are a few terms which are to be understood, namely.
a. First Party: refers to the insured and the vehicle.
b. Second Party: refers to the insurance company
c. Third Party: this is the most important and covers any person or property the damage/ death to which is covered under this.