Bike Insurance

What is Bike Insurance?

Bike insurance, also known as two-wheeler insurance, is a type of motor insurance policy that provides financial coverage against any loss or damage caused to or by a two-wheeler. This includes protection from road accidents, theft, natural calamities (like floods and earthquakes), man-made disasters (like riots and fire), and third-party liabilities such as injury or property damage to others.

By law, it is mandatory in India to have at least a third-party two-wheeler insurance policy to ride a bike legally on public roads. However, comprehensive plans are recommended for broader protection as they also cover damages to your vehicle.

What Does a Two-Wheeler Insurance Policy Cover?

• Accidental damage to the insured bike
• Theft or total loss of the two-wheeler
• Natural disasters (flood, earthquake, cyclone, etc.)
• Man-made calamities (fire, vandalism, riots)
• Third-party liabilities (injury, death, or property damage)

Which Vehicles are Covered:

• Scooters (Petrol/Electric)
• Motorcycles (Commuter, Sports, Touring)
• Mopeds
• Electric Bikes (EVs)

A bike insurance policy ensures not just financial security but also peace of mind and legal compliance.

IRDAI Rules & Legal Requirement for Two-Wheeler Insurance

As per the Motor Vehicles Act, 1988, it is mandatory for all bike owners in India to have at least a third-party bike insurance policy. The IRDAI (Insurance Regulatory and Development Authority of India) governs the rules related to premium rates, policy terms, and claim settlements.

Penalties for Riding Without Insurance:

• Fine up to ₹2,000 for first offence
• Up to ₹4,000 and/or imprisonment for repeated offence

Why Buy Bike Insurance Online?

1. Instant Quotes: Compare premiums from 17+ insurers in seconds.
2. Zero Paperwork: 100% digital journey from purchase to renewal.
3. Discounts & Deals: Online-only offers & NCB benefits.
4. Easy Renewals: Timely reminders and one-click renewals.
5. 24x7 Support: Get assistance anytime, anywhere.

Key Features of Two Wheeler Insurance Plans

The insurance market has changed dramatically since the emergence of new players. Two-wheeler insurers nowadays have come up with a range of features to woo customers and ensure they continue with them year after year. Today, buying bike insurance online is a hassle-free and quick process. 

Let us look at some of the key features of two-wheeler insurance plans:

• Financial Protection: Two-wheeler insurance provides financial cover that helps save a lot of money in case of an accident, theft or third-party liabilities. Even minor damage can cost thousands of rupees. This bike insurance policy helps you get the damages repaired without creating a hole in your pocket.
• Accidental Injuries: The policy covers damages sustained by your vehicle in an accident and any accidental injuries you may have suffered.
• Coverage for all Types of Two-wheelers: It protects against the damages caused to the scooter, motorcycle, or moped. Even the vehicles have been improvised and are available with features like better mileage, power, and style.
• Cost of Spare Parts: The rising demand for motorcycles in India has led to the rise in their cost and the increased cost of their spare parts. This two-wheeler policy covers the cost of spare parts, including simple nuts & bolts or parts such as the gears or the brake pads, which have become costlier than before.
• Roadside Assistance: At the time of policy purchase, you can opt for roadside assistance that will come to your aid if you need assistance on the road. This includes services such as towing, minor repairs, flat tyres, etc.
• Peace of Mind: Any damage to your vehicle can lead to substantial repair charges. If you have two-wheeler insurance, your insurer will take care of the unwanted expenses, giving you peace of mind to ride without any cause for worry.
• Compulsory Personal Accident Cover: Bike owners now can avail of personal accident cover of ₹ 15 lakh under their two-wheeler insurance policy as an inbuilt feature. It was ₹ 1 lakh earlier, but recently, IRDA has increased the cover to ₹ 15 lakh and made it mandatory.
• Add-on Covers: The additional coverage is offered at an extra cost but goes a long way to ease the process of filing claims by providing extra cover. It includes personal accident cover for pillion riders, enhanced cover for spare parts & accessories, zero depreciation cover, etc.
• Easy Transfer of No Claim Bonus (NCB): The NCB discount can be easily transferred if you buy a new two-wheeler vehicle. The NCB is given to the rider/driver/owner, not the vehicle. The NCB rewards a person for safe driving practices and for not making any claims in the earlier year(s).
• Discounts: IRDA-approved insurers provide several discounts, such as a discount for having membership in a recognized automotive association, a discount for vehicles that have approved anti-theft devices, etc. Owners with an unblemished record also receive concessions via NCB.

Types of Two Wheeler Insurance Policies in India

Broadly, there are three types of bike insurance policies offered by insurance companies in India. As per your need & budget, you can buy third-party bike insurance, comprehensive bike insurance, and own-damage bike insurance policy. See below for more information:

1. Third-Party Bike Insurance

   Third-party bike insurance covers the policyholder against legal obligations that may arise from causing damage to a third party in a road accident, whether a person or their property. The Indian Motor Vehicle Act, 1988, mandates all two-wheeler owners to have valid third-party insurance while riding on public roads.

2. Own Damage Bike Insurance

   The own damage bike insurance is also known as a standalone own-damage (OD) cover. It provides financial coverage for the damages caused to the insured bike against theft, accidents, fire, etc. It is advisable to have this policy in addition to mandatory third-party insurance for extensive protection.

3. Comprehensive Bike Insurance

   Comprehensive bike insurance protects you against any damage to your vehicle in addition to third-party legal liabilities. It shields your bike from fire, natural calamities, theft, accidents, man-made disasters and related adversities.

Comparison of Bike Insurance Policies

The below table highlights the key differences between the three types of two-wheeler insurance. Whether you own or plan to buy an e-bike, a luxury bike, or a regular bike, these two-wheeler insurance features are uniform for all.

Add-Ons for Bike Insurance

Bike insurance add-ons are optional covers that can be purchased with a comprehensive or standalone own-damage policy by paying an extra premium. These add-ons help in enhancing the coverage of the basic plan.

Here are some of the most popular bike insurance add-on covers you can opt for:

1. Personal Accident Cover

   Compulsory Personal Accident (PA) cover in bike insurance is an add-on offered to the owner of the insured two-wheeler. As per the IRDAI, the maximum coverage offered is ₹ 15 Lakh. It offers full compensation to the nominee of the policyholder in case of sudden death in a road accident. It also compensates in case of injury or permanent disability of the policyholder.

2. Zero Depreciation Cover

   An insurer pays the claim amount after deducting the depreciation value of your bike. Zero depreciation cover in bike insurance eliminates any deduction on account of depreciation at the time of claim settlement.

3. NCB Protection Cover

   For every claim-free year, you can avail of a discount on the renewal of the comprehensive or own-damage premium. This is known as the No Claim Bonus in bike insurance (NCB). This NCB ranges from 10% to 50%.
   With the help of NCB protection cover in bike insurance, you can retain the NCB and get a discount during renewals, even if they raise any claim during their policy tenure.

4. 24/7 Roadside Assistance Cover

   With roadside assistance add-on cover, you get 24/7 support for your bike or electronic bike in any emergency from your insurer (within a specified distance outlined in your policy documents).
   The roadside assistance in bike insurance protects you in case of breakdown assistance, emergency fuel assistance, flat tyre assistance, lost key assistance, minor repairs, etc. Furthermore, any service taken under this cover is not counted as a claim; hence, the NCB discount remains the same.

5. Return to Invoice Cover

   At the time of total loss or theft of the insured bike, your insurance company will pay you the 'Insured Declared Value (IDV)'. However, if you have Return to Invoice cover in bike insurance policy, it will bridge the gap between the IDV and the invoice/on-road price of your vehicle, including registration and taxes, allowing you to get the purchase value as the claim amount.

6. Engine Protection Cover

   It is an important cover if you reside in a flood-prone area or a location with frequent waterlogging. Engine protection cover in bikes offers compensation in case the insured two-wheeler engine is damaged partially or totally due to leakage of lubricant oil, water ingression, damage due to hydrostatic lock, etc.
   The engine protection cover also protects against damages to the insured bike engine parts, including cylinders, pistons, connecting rods, crankshafts, etc.

7. Consumables Cover

   Consumables refer to those essential parts of the bike needed to run it smoothly. The engine oil, brake fluids, chain lubricants, coolant, nuts & bolts, etc., are some popular consumables required to run the bike. With the help of consumables covers for bikes, the insurer reimburses the cost of consumables up to a specific limit.

8. Passenger Cover

   A passenger cover in bike insurance offers additional financial coverage to the co-passenger or rider in case they meet with a road accident. The add-on covers the pillion rider in case of bodily injuries or death due to accidents or insured perils mentioned in the policy documents.

*Disclaimer: The above inclusions and exclusions are subject to change as per the insurer's policy wording. Kindly review the policy wording of the insurance company before buying the policy.

Bike Insurance Premium Rates in India

Bike insurance premiums can vary based on coverage and engine cubic capacity of a two-wheeler. Apart from this, there are various other factors that decide the bike insurance premium rates that we will discuss in the next section. However, the prices for a third-party bike insurance policy in India are uniform and decided by IRDAI. For fuel-powered two-wheelers, it is based on the bike engine’s capacity and for electric bikes, it is determined by its battery capacity (kW).

Third-party Bike Insurance Price

The following table explains the third-party bike insurance prices based on your bike's cubic capacity (CC) and the duration of the policy:

*Disclaimer: The annual and long-term third-party bike insurance price mentioned above is as per the IRDA.

E-Bike Insurance Premium Rates in India

The following table explains the third-party e-bike insurance prices based on the kilowatt capacity (KW) of your e-bike and the duration of the policy:

*Disclaimer: The annual and long-term third-party e-bike insurance price mentioned above is as per the IRDA.

Factors Affecting Bike Insurance Premium

The premium for your two-wheeler insurance depends on several personal and vehicle-related factors:

• Insured Declared Value (IDV): Higher IDV means a higher premium.
• Cubic Capacity (CC) of the Engine: Bikes with higher CC attract higher premiums.
• Age of the Bike: Older bikes usually cost less to insure.
• Location: High-traffic or theft-prone areas may result in higher premiums.
• Type of Policy Chosen: Comprehensive costs more than third-party.
• Rider’s Claim History: No-claim bonus (NCB) can reduce your premium.
• Add-on Covers: Additional benefits can increase the premium slightly.

Understanding these factors helps you plan and reduce unnecessary costs.

What are the Benefits of a Bike Insurance Policy?

The motor protection laws in India protect you from expenses arising from third-party damages or own damage. Hence, get your prized possession covered and stay at peace by purchasing the right bike insurance policy.

On this note, let us look at the various key benefits of buying a bike insurance policy:

• Financial Protection: Two-wheeler insurance provides financial cover that helps save a lot of money in case of an accident, theft or third-party liabilities. Hence, the right bike insurance policy helps you get the damages repaired without creating a hole in your pocket.
• Accidental Injuries: The policy covers damages sustained by your vehicle in an accident and any accidental injuries you may have suffered.
• Coverage for all Types of Two-wheelers: It protects against the damages caused to the scooters, motorcycles, or mopeds.
• Cost of Spare Parts: The two-wheeler insurance policy covers the cost of spare parts, including simple nuts & bolts or parts such as the gears or the brake pads, which have become costlier than before.
• Roadside Assistance: At the time of policy purchase, you can opt for roadside assistance that will come to your aid if you need assistance on the road, such as towing, minor repairs, flat tyres, etc.
• Compulsory Personal Accident Cover: Bike owners are required to avail of personal accident cover of ₹ 15 lakh with their two-wheeler insurance policy as a mandatory add-on available with both third-party and comprehensive bike insurance policies.
• Add-on Covers: The additional coverage is offered at an extra cost but goes a long way to ease the process of filing claims by providing extra cover. It includes personal accident cover for pillion riders, zero depreciation cover, NCB protection cover, etc.
• Easy Transfer of No Claim Bonus (NCB): The NCB discount can be easily transferred if you buy a new two-wheeler. Remember, the NCB is given to the two-wheeler owner or the policyholder, not the vehicle. The NCB rewards a person for safe driving practices and for not making any claims in the earlier year(s).
• Discounts: IRDA-approved insurers provide several discounts, such as a discount for having membership in a recognized automotive association, a discount for vehicles that have approved anti-theft devices, etc.

How to Calculate Bike Insurance Premium Online?

To calculate your bike insurance premium, various factors such as the coverage amount, bike model, and location determine the premium rates. At Policybazaar, we provide a free, easy-to-use bike insurance premium calculator to help you get an accurate estimate. By simply entering your bike's details, you can find the best insurance plans tailored to your needs.

• Factors influencing premiums: Coverage amount, bike make/model, age, and location.
• Our Premium Calculator: Instant estimates by entering:
  • Bike make, model, and variant
  • Ex-showroom price
  • City of registration
  • Year of purchase
  • Claim history
• Get personalized recommendations: Based on your bike details and preferences.

How to Save on Bike Insurance Premium?

You can save on your two-wheeler insurance premium in several ways without compromising on your policy coverage. Check some important tips to save bike premium costs:

• Claim your NCB: No Claim Bonus is rewarded for every claim-free year. You can utilize your NCB to avail discounts on your premium without reducing your coverage level.
• Know Your Vehicle's Age: Usually, older motorcycles attract lower premium rates due to lower Insured Declared Value (IDV).

• Install Safety Devices:. Most insurers will take cognizance of the safety devices you install, such as anti-theft alarm, and offer a discount on your premium.
• Choose the CC of Your Bike Wisely: Choosing your vehicle's engine cubic capacity or CC is important because a higher CC attracts a higher premium. Thus, you need to choose the engine CC wisely.
• Opt for a Higher Voluntary Deductible: Deductibles decrease the insurer's liability towards the claim amount as you pay a certain amount from your pocket. Therefore, if you opt for a high voluntary deductible, you will be offered lower premium rates. Read our guide on 13 tips to save money on your bike premium for more such insightful tips.

How to Claim Two Wheeler Insurance Online?

If your two-wheeler meets with an accident, is stolen or suffers immense damage, you can raise a bike insurance claim against it. A 3rd party bike insurance policy will settle claims only for the damages caused to third parties, whereas OD and comprehensive bike insurance will also settle claims for damages caused to your vehicle.

At Policybazaar.com, you have two options to raise bike insurance claims: cashless and reimbursement claims.

1. Cashless Claim Settlement Process

   Opting for a cashless claim means that the claim amount will be directly settled with the network garage where the repairs are carried out.

2. Reimbursement Claim Settlement Process

   You can file a reimbursement claim if you choose to get repairs done at a non-network garage.

Steps to File Two-Wheeler Insurance Claim at Policybazaar.com

1. File a FIR to the nearest police station in case your bike is stolen.
2. Report the incident to your insurer.
3. A surveyor will assess the damage to your bike.
4. Submit the documents required for bike insurance claim, including the claim form.
5. The insurer will approve the repair request.
6. Take your bike to a network garage for repairs.
7. The insurer will directly pay the garage for the repairs or reimburse the repair amount. You will have to pay only for the deductibles or non-covered expenses.

Documents Required for Filing Bike Insurance Claims

Ensure you have the following documents when filing bike insurance claims:

• Duly signed claim form
• Valid copy of your bike's Registration Certificate (RC)
• Valid copy of your Driving License (DL)
• Bike Insurance Policy
• Police FIR (for accidents, theft, and third-party liabilities)
• Original repair bill and payment receipt
• Proof of release

For a hassle-free online two-wheeler insurance claim process, follow these guidelines and keep all the above-mentioned necessary documents handy.

How to Buy/Renew Bike Insurance Policy Online?

If you are looking to buy bike insurance online, Policybazaar provides a one-stop platform to compare different policies from various insurance providers in India. You can buy or renew your two-wheeler insurance online in just 60 seconds and save up to 85% costs.

Whether purchasing scooter insurance for e-bikes, hybrid bikes or regular daily commuting bikes, you can find something for your two-wheeler here.

• 20 Insurance Partners
• 24/7 Customer Assistance
• Buy or Renew Policy in just 60 Seconds
• Easy Claim Filing & Tracking

Steps to Buy/Renew Two-Wheeler Insurance from Policybazaar.com

• Visit Policybazaar’s official website.
• Choose the '2 wheeler Insurance' from the multiple product boxes on the home screen.
• To renew your two-wheeler insurance: Enter your bike's registration number. Click on 'View Prices'.
• For two-wheeler insurance for a new bike: Click on 'Buying a new bike?' and enter the required details like city or RTO, vehicle type, etc.
• You will be shown various plans from different insurers online.
• Compare and choose the best suitable bike insurance plan per your coverage requirements and budget. Select the add-ons if needed.
• Fill out the necessary owner, vehicle, and nominee details.
• Pay the bike insurance premium online using UPI, debit/credit cards, or internet banking.
• The insurer will issue your policy, and you will receive the policy copy on your registered email ID.

You can also download your policy document & get a printout. It is also a valid document & you can show it to the traffic police & save yourself from paying heavy traffic fines.

KYC Documents Required to Buy/Renew Two Wheeler Insurance

Here is a list of mandatory documents that you need to submit to buy or renew your 2-wheeler insurance policy:

Documents Required for Proof of Identity/Address

• Aadhar Card
• Passport
• Driving License (DL)
• PAN
• Voter ID Card issued by the Election Commission of India
• Ration Card with the photo of the applicant

How to Compare Two Wheeler Insurance Plans Online?

Two-wheeler insurance is crucial for safeguarding your bike and finances. It provides protection against third-party liabilities, including injuries or property damage, as well as coverage for accidents and damages to your own vehicle.

You can easily purchase two-wheeler insurance online or directly from insurance companies. Policybazaar.com makes it simple to compare insurance quotes by considering factors like:

• Claim settlement ratio
• Coverage options
• Add-ons
• Premium rates
  

To help you find the best deal, you can use our bike insurance calculator to compare premium rates from different insurers across India.

Check out our guide on 5 key factors to compare when shopping for bike insurance online to ensure you choose the right plan for your needs.

Electric Bike Insurance

With the rising popularity of electric vehicles in India, insuring your electric bike (eBike) is just as crucial as a petrol-powered two-wheeler. An electric bike insurance policy offers financial protection against accidents, theft, fire, natural disasters, and third-party liabilities.

Why Do You Need Electric Bike Insurance?

• Mandatory third-party cover under the Motor Vehicles Act
  High repair costs for batteries and electric components
• Risk of theft, especially in urban areas
• Access to cashless repairs at EV-specialized network garages
  
  

Coverage for Electric Two-Wheelers:

• Own Damage Cover: Battery, electric motor, charger, wiring, and other components
• Third-party Liability: Bodily injury or property damage to third parties
• Add-on Covers Available: Roadside assistance, battery protection, zero depreciation, etc.

Disclaimer: The eligibility for electric bike insurance applies to low-speed and high-speed electric scooters and bikes from brands like Ather, Ola, TVS iQube, Bajaj Chetak, Revolt, Hero Electric, and similar manufacturers. Coverage and terms may vary depending on the specific vehicle model and insurer policies.

Premium Calculation for eBikes:

Electric bike insurance premiums depend on:

• Battery capacity (kWh)
• Vehicle cost (IDV)
• Usage location
• Add-ons chosen

At Policybazaar, you can compare eBike insurance plans from multiple insurers and select the one best suited to your electric vehicle.

Bike Insurance Policies 2025

When selecting the best bike insurance for 2025, Policybazaar.com offers a range of options to cater to your needs. Whether you're buying a new policy or renewing your existing two-wheeler insurance, comparing different insurers ensures you find the best coverage at the lowest premiums. The platform provides an easy way to compare various plans, helping you make an informed choice for your bike insurance needs.

Key benefits of choosing bike insurance through Policybazaar:

• Quick Policy Issuance: Get your policy instantly with no delays.
• No Inspection, No Extra Charges: Hassle-free process with no hidden costs.
• Lowest Premium Guarantee: Ensure you get the most affordable rates on your two-wheeler insurance plan.
• Easy Online Renewal: Renew your expired policy in just 60 seconds.
• Wide Range of Insurers: Compare policies from leading bike insurance providers for the best coverage and premiums.

With Policybazaar, securing the right bike insurance has never been easier.

*Disclaimer: The Claim Settlement Ratio (CSR*) mentioned above is as per the figures mentioned in the IRDAI motor insurance annual report 2021-22 and are arranged in alphabetical order. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website www.irdai.gov.in

Common Bike Insurance Terms

Here is a bike insurance glossary, which includes commonly used terms in bike insurance:

1. Third-party Liability Insurance

   Third-party bike insurance is a liability insurance policy that covers damages and injuries caused to third parties by the insured bike in a road accident. As per the Indian Motor Vehicle Act, all two-wheeler owners must have this policy.

2. Own Damage Insurance

   Own-damage bike insurance or OD cover refers to a policy that protects an insured bike against damages from accidents, theft, fire, natural calamities, and malicious acts. It is an optional bike insurance policy usually purchased along with the third-party bike insurance policy.

3. Bike Insurance Premium

   Bike insurance premium refers to an amount paid to keep your coverage active, determined by several factors like type of policy, bike's age, city of registration, make, model, variant, etc.

4. Deductible

   A bike insurance deductible refers to a portion of a claim you agree to pay when settling an accidental claim.

5. No Claim Bonus (NCB)

   NCB or No Claim Bonus in bike insurance refers to a reward for not making claims during the policy period, offering discounts on your own damage premium during renewal.

6. Insured Declared Value (IDV)

   IDV or Insured Declared Value in bike insurance refers to a maximum sum assured promised by the bike insurance company in case of total loss or theft, calculated based on the bike's listed price and depreciation.

7. Policy Endorsement

   Bike insurance policy endorsement is a process of modifying or adding your policy's terms & conditions. You can quickly raise a bike insurance policy endorsement request with your insurer and make specific changes as per the requirement.

8. Policy Inclusions & Exclusions

   Bike insurance policy inclusions & exclusions refer to the covered perils and situations not covered by the insurance company in exchange for a premium. To avoid surprises during the claim settlement, you must read them carefully before purchasing the policy.

9. Add-on Covers

   Bike insurance add-on covers refer to optional covers or riders providing additional protection for specific risks which are not covered in the basic policy. Some common bike insurance add-ons are Personal Accident (PA) cover, zero depreciation cover, engine protection cover, etc.

10. Cashless Claim

    Cashless claims in bike insurance allow the policyholder to repair their damaged two-wheeler at an authorized network garage without paying any upfront payment. Here, the insurance company settles the bill directly.

11. Reimbursement Claim

    Reimbursement claim in bike insurance allows the policyholder to repair their damaged two-wheeler at their choice of garage. Here, the insurance company reimburses the amount later to the policyholder's bank account.

12. Bike Insurance Renewal

    Bike insurance renewal is the process of extending your policy beyond its expiry date. It is crucial for maintaining continuous coverage and avoiding lapses.