What is Motorcycle Third-Party Insurance?
2 Answers
"Motorcycle Third-Party Insurance" is also known as compulsory motor vehicle traffic accident liability insurance. It refers to a mandatory liability insurance where the insurance company compensates for personal injury, death, or property loss of victims (excluding the insured and passengers of the insured vehicle) caused by road traffic accidents involving the insured motorcycle, within the liability limits. Precautions for purchasing motorcycle theft insurance are as follows: 1. Theft insurance coverage: The insured amount is negotiated between the policyholder and the insurance company within the actual value of the insured motorcycle. Actual value refers to the price of a new vehicle minus depreciation. It is particularly important to note that for used motorcycles, the insured amount should be based on the lower of the actual value or the purchase invoice amount. 2. Exclusions: Pay attention to the exclusions of motorcycle theft insurance. The insurer is not liable for losses caused by the following reasons: (1) War, military conflict, terrorist activities, riots; (2) Loss of the insured motorcycle due to natural disasters; (3) Intentional acts or illegal activities by the insured, their family members, or the driver; (4) The driver is under the influence of alcohol or drugs controlled by the state; (5) The insured motorcycle is defrauded, seized, confiscated, impounded, or requisitioned by the government; (6) Theft, robbery, or snatching of the insured motorcycle due to civil or economic disputes; (7) The lessee or a driver authorized by the lessee and the insured motorcycle go missing simultaneously.
I've been riding motorcycles for almost ten years, and third-party motorcycle insurance is absolutely essential. It's the type of coverage where, if you're involved in an accident that injures someone or damages their property while riding, the insurance company steps in to cover the compensation costs. For example, once my colleague lost control on a mountain curve and hit a cyclist—the insurance immediately covered the medical bills and bicycle repairs, saving him tens of thousands in expenses. Without this coverage, you'd be fully liable for all damages in an accident, potentially even forcing you to sell your home. More critically, this insurance is legally mandatory in most regions—if caught without it, police can issue fines, deduct points, or even suspend your license. Coverage typically starts at tens of thousands, covering medical costs, property damage, and even lost wages. I recommend verifying your coverage amount before riding—opt for higher limits in high-risk urban areas. Always check your policy's expiration during routine maintenance to avoid gaps in coverage.
