Two Wheeler Insurance

A two-wheeler insurance policy, commonly known as bike insurance, covers the damages that may occur to the insured motorcycle or scooter due to accidents, theft, fire, natural calamities, man-made disasters, & total loss. According to the Motor Vehicles Act 1988, third-party 2-wheeler insurance is mandatory for all two-wheeler owners.

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What is Bike Insurance?

Bike insurance is a legal contract between the bike owner & insurance company in which the insurer provides financial coverage to the bike owner against any loss or damages to the bike due to several unforeseen circumstances.

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Key Features of Bike Insurance Policy

Two Wheeler Insurance Buying GuideThe two-wheeler insurance market has changed dramatically since the emergence of new players. In India, these two-wheeler insurers have come up with several features to woo customers of all segments and fulfill their needs.

One of the easiest ways to financially protect your bike against several unexpected losses that might occur due to an accident is by purchasing a bike insurance policy. To make sure that you buy the best bike insurance policy for your two-wheeler, here are some key benefits that you must be aware of when buying it-

Categories Key Features
Third-party damages Coverage for permanent/temporary injuries, death & property damages for third-party
Own-damage coverage Coverage for the damages or loss to own vehicle from natural & man-made calamities, theft, fire, accidents, etc.
No Claim Bonus (NCB) Avail up to 50%
Bike insurance premium Starting at ₹ 538/year*
Add-on covers Available more than 10 add-ons with a comprehensive policy, such as NCB protection, zero dep, engine protection, roadside assistance, etc.
Buying/renewal process Online
Cashless garages or cashless repairs Available
Mandatory Personal Accident (PA) cover Up to ₹ 15 lakhs

5 Reasons to Buy Bike Insurance Online

Look at the various reasons of buying two-wheeler insurance online-

  1. Financial Protection

    Two-wheeler insurance provides financial cover that helps save a lot of money in case of accidental damage, theft, damages due to natural & man-made calamities, and third-party liabilities. Hence, buying a bike insurance online helps bike owners to repair vehicle damages without burning a hole in their pocket.

  2. Compulsory Personal Accident Cover of ₹15 Lakh

    Bike owners now can avail benefits of personal accident cover of ₹15 Lakh under their two-wheeler insurance policy as a compulsory add-on cover. A Personal Accident (PA) cover offers protection against any accidental injuries only to the owner of the insured bike.

  3. Add-on Covers

    The additional coverage (commonly known as add-ons) is offered at a nominal premium to enhance the comprehensive policy coverage. The common add-ons available under the comprehensive bike insurance policy include- zero depreciation cover, NCB protection cover, roadside assistance cover, pillion rider cover, etc.

  4. Easy Transfer of No Claim Bonus (NCB)

    No Claim Bonus (NCB) in two-wheeler insurance is a discount offered by insurers to their customers for not raising a single claim during a policy period. This NCB discount can be availed on the own-damage policy renewal.

    Furthermore, you can easily transfer the accumulated NCB discount if you buy a new two-wheeler vehicle. An NCB is given to the rider/driver/owner and not to the insured vehicle. In simpler terms, an NCB rewards a person for safe driving practices and for not making any claims in the earlier year(s).

    For example-

    Mr. Sunil has earned 40% NCB on an existing bike. Now he wants to sell it and buy a new two-wheeler. In such a situation, he can easily sell it to the potential buyer and transfer NCB of an old bike. He can use the NCB of the old bike to get a discount on the insurance premium of the new two-wheeler, which he was planning to purchase.

    Hence, you can transfer the NCB of your old two-wheeler to a new two-wheeler only if the old vehicle is sold to a buyer.

  5. Cashless Garage

    Cashless garage or cashless repair in two-wheeler insurance is a facility offered by the insurer to get your insured vehicle repaired without paying any upfront cost. In case of damages to your own vehicle, you can opt for the nearest cashless garage and repair your insured two-wheeler.

Types of Bike Insurance Plans

Broadly, there are 3 types of two-wheeler insurance policies offered by general insurance companies in India. You can buy third-party bike insurance, standalone own-damage bike insurance, and comprehensive bike insurance as per your need & budget.

  • Third-party Bike Insurance

    As the name suggests, third-party Bike Insurance safeguards the rider against all the legal obligations causing damage to the third party in an accident or collision. This policy offers compensation for the damages/injuries caused to a third party/vehicle/person/property up to ₹ 7.5 Lakhs.
    The Indian Motor Vehicle Act 1988 mandates anyone who owns a two-wheeler must have valid third-party bike insurance if plying on public roads.

  • Stand-alone Own Damage Bike Insurance

    As the name suggests, a standalone Own-Damage (OD) policy covers the damages caused only to the insured bike. If you have mandatory third-party bike insurance, it is advisable to get a standalone OD bike policy to protect against own damage to your bike.

  • Comprehensive Bike Insurance

    A comprehensive bike insurance policy covers both third-party liabilities and own damages in a single policy. The policy protects the insured bike from several unforeseen circumstances, such as damages caused due to fire, natural calamities, theft, accidents, man-made disasters, and related adversities.
    The following table illustrates different features that you can compare under third-party (TP), comprehensive, and standalone bike insurance.

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Third Party (TP) vs. Standalone Own-Damage (OD) vs. Comprehensive

Points of Basis Third-party Bike Insurance Coverage Standalone Own-damage Bike Insurance Coverage Comprehensive Bike Insurance Coverage
Scope of Coverage Narrow Wider Very high
Third-party liabilities X
Own-damage coverage X
Personal Accident (PA) cover
Availability of add-on covers X
Mandated by law X X

Coverage Under Bike Insurance Policy

  • Inclusion
  • Exclusion
  • Loss and damages suffered due to natural calamities such as lightning, thunder, storm, earthquake, etc., and man-made disasters such as riots, terrorist activities, strikes, etc.
  • Loss arising out of theft, housebreaking, burglary, or total loss of the insured two-wheeler
  • Coverage for the loss/injuries caused to a third party or property in a road accident
  • Loss or damage caused to the insured bike due to fire, self-ignition, or any explosion
  • Loss or damages sustained by the insured bike, while it was in transit via roads, railways, waterways, etc.
  • A personal accident cover of up to ₹15 lakh is available for injuries to the owner causing temporary and permanent disabilities or loss of a limb that causes partial or total disability
  • Damage caused by normal wear and tear of the vehicle
  • Loss from mechanical/electrical breakdowns
  • Any loss incurred while the insured bike was driven outside the geographical boundaries mentioned in the policy
  • Any loss or damage sustained due to drunk driving and without mandatory documents such as – DL, RC, and valid bike insurance policy
  • Any damage/ loss incurred due to war, mutiny, or nuclear risk

Add-On Covers in Bike Insurance Policy

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

The variety of add-on covers that you can opt for your two-wheeler are as follows-

  1. Mandatory Personal Accident (PA) Cover

    Compulsory Personal Accident (PA) cover is an add-on offered to the owner of the insured vehicle only if he/she holds a valid DL (Driving License). As per the IRDAI, ₹ 15 Lakh is the limit of coverage and 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.

    You may also read- Personal Accident Cover in Bike Insurance

  2. NCB Protection Cover

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

  3. Zero Depreciation Cover

    Usually, an insurer pays the claim amount after deducting the depreciation value of the insured vehicle. The zero depreciation cover (commonly known as bumper-to-bumper cover) helps in eliminating the depreciation factor while paying the claim amount. This add-on cover is applicable on private bikes and subject to a specific number of claims during the policy tenure.

    However, compulsory and voluntary deductibles will be applicable even after purchasing zero depreciation cover.

  4. 24x7 Roadside Assistance Cover

    This cover enables the policyholder to avail emergency roadside assistance from the insurer within a specified distance mentioned in the policy documents.

    The roadside assistance 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 and hence, the NCB discount remains the same.

  5. Return to Invoice

    At the time of total loss or theft, the insurer pays the Insured Declared Value (IDV) of the insured bike. The Return to Invoice cover bridges the gap between the IDV and the invoice/ on-road price of the insured vehicle, including registration and taxes, allowing the policyholder to get the purchase value as the claim amount.

  6. Engine Protection Cover

    Engine protection cover is an add-on benefit under the comprehensive bike insurance policy. This cover 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.

    Additionally, the engine protection cover protects against damages to the insured bike engine parts, including cylinders, pistons, connecting rods, crankshafts, etc.If you are residing in a flood-prone area or in such a place where water logging is a major issue, this add-on is a must-buy.

  7. Consumables Cover

    Consumables refer to those essential parts that are needed to run the bike 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 this add-on cover, the insurer reimburses the cost of consumables up to a certain limit.

  8. Personal Accident (PA) Cover for Unnamed Passengers

    A Personal Accident (PA) cover offers additional financial coverage to the co-passenger or rider in case they meet with a road accident.

  9. Cover for Loss of DL and RC

    This add-on cover offers coverage in case the policyholder loses their Driving License/Registration Certificate or even both. Either the insurer provides compensation up to a certain limit or the actual costs, whichever amount is lower, to issue a duplicate DL/RC.

  10. Emergency Medical Expenses

    In case the owner-rider or the pillion rider sustains injuries in a road accident, this valuable add-on cover reimburses the emergency medical expenses up to a certain limit, regardless of which hospital or doctor the insured chooses for the treatment.

  11. Daily Expenses Cover

    To meet the cost of hired transportation while the insured two-wheeler was damaged, the insurance provider offers daily expenses reimbursement as mentioned in the policy documents. Note that the insured two-wheeler must be sent to an authorized network garage for repairing the accidental damages.

How to Calculate Bike Insurance Premium?

Using a free online calculator available at, you can easily calculate the estimated premium for your two-wheeler insurance plan. The bike insurance calculator takes the bike details to evaluate the bike insurance premium. The following are the parameters taken into consideration to fix the bike insurance premium -

  1. Make, model, and the variant of the two-wheeler
  2. Ex-showroom price
  3. City of registration
  4. Year of bike purchase

Best Two Wheeler Insurance Plans

Two Wheeler Insurance Plans starting at Rs. 2 per day. Buy and compare best two wheeler insurance online for your motorcycle at Policybazaar. You can now renew your expired bike insurance policy online from foremost insurers with lowest premiums in just 30 seconds.

  • Quick Policy Issuance
  • No Inspection, No Extra Charges
  • Lowest Premium Guarantee on the Insurance Plan
Two-Wheeler Insurance Company Cashless Garages Third-Party Cover Personal Accidental Cover Claim Settlement Ratio Policy Term (Minimum)
Bajaj Allianz Insurance General Insurance Co. Ltd. 4500+ ₹ 15 Lakh 96.5% 1 Year
Cholamandalam MS General Insurance Co. Ltd. 6912+ ₹ 15 Lakh 98.0% 1 Year
Future Generali India Insurance Co. Ltd. 3500+ ₹ 15 Lakh 87.4% 1 Year
GO DIGIT General Insurance Ltd. 1400+ ₹ 15 Lakh 97.0% 1 Year
HDFC ERGO General Insurance Company 2000+ ₹ 15 Lakh 100.0% 1 Year
IFFCO Tokio General Insurance Co. Ltd. 4300 ₹ 15 Lakh 95.8% 1 Year
Kotak Mahindra Insurance Co. Ltd. 3000+ ₹ 15 Lakh 98.0% 1 Year
Liberty General Insurance Ltd. 4300+ ₹ 15 Lakh 98.0% 1 Year
National Insurance Co. Ltd. 900+ ₹ 15 Lakh 93.0% 1 Year
The New India Assurance Co. Ltd. 1173+ ₹ 15 Lakh 91.0% 1 Year
The Oriental Insurance Co. Ltd. 3100+ ₹ 15 Lakh 94.0% 1 Year
Reliance General Insurance Co. Ltd. 8700+ ₹ 15 Lakh 98.6% 1 Year
SBI General Insurance Co. Ltd. 16000+ ₹ 15 Lakh 94.0% 1 Year
Shriram General Insurance Co. Ltd. 2000+ ₹ 15 Lakh 98.0% 1 Year
TATA AIG General Insurance Ltd. 7500+ ₹ 15 Lakh 98.0% 1 Year
United India Insurance Co. Ltd. 500+ ₹ 15 Lakh 95.0% 1 Year
Universal Sompo Insurance Co. Ltd. 3500+ ₹ 15 Lakh 90.0% 1 Year
ZUNO (Edelweiss) General Insurance Co. Ltd. 1500+ ₹ 15 Lakh 89.0% 1 Year
See More Plans

*Disclaimer- The Claim Settlement Ratio (CSR) mentioned in the above table is as per the IRDAI motor insurance annual report 2021-22. does not endorse, rate, or recommend any particular insurer or insurance plan offered by any insurer.

You love your two wheeler vehicle like your baby. You clean it and polish it every Sunday. You go zooming in it all around the city. Yes, your vehicle is an integral part of your life. Therefore, it is important to keep your vehicle safe and secure. Get your prized possession covered and stay at peace by purchasing bike insurance.

Bike insurance provides financial cover against any physical damage, theft, and third-party accountability. With poor road conditions in India and no driving ethics, bike insurance is your only saviour on the roads.

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Benefits of Buying Bike Insurance Online

Buying bike insurance online is quite an easy process and an affordable deal. With that saying, below is a table showing a comparative study of why you should purchase bike insurance online over offline-

Point of Basis Bike Insurance Online Bike Insurance Offline
Buying process You can easily buy bike insurance online from the insurer’s website or using your mobile phone or laptop. You have to physically visit the insurer’s office or connect with the agent.
Premium rates Since there is no role of agents or intermediaries, the bike insurance premium is quite affordable. Due to higher operational costs and the huge role of agents, the premium increases automatically.
Customer support services Connect with the respective customer support team 24x7 through calls and emails. During office hours, connect with the respective agent or customer support team.
Paperwork Minimal to zero paperwork. It involves a lot of paperwork.
Convenience It only requires a stable internet connection and a smartphone. As the customer needs to visit the insurance agent during office hours, the process is complicated.
Transparent As everything is published on the insurer’s website, hence it is more evident. The huge role of agents, so the transparency is low.
Comparison It is easy to compare different plans online on the internet as per the need and budget. The agents only offer those bike insurance plan that they want to sell.
Renewal process The policyholder’s details are auto-saved with the insurer, so the renewal process is easy. Here, the renewal process is lengthy as it takes more time to gather information.

Factors to Consider While Selecting Bike Insurance Policy

While selecting a two-wheeler insurance policy, you must check and compare several factors like scope of coverage, availability of add-on covers, network garages, Incurred Claim Ratio (ICR), customer assistance, etc. Below are some crucial factors explained to assist you while selecting the right bike insurance policy-

  • Scope of Coverage

    Several motor insurance companies offer both mandatory third-party and optional comprehensive policies. However, you must check all the inclusions & exclusions of the 2-wheeler insurance policy before purchasing it.

  • Availability of Add-ons or Optional Coverage

    You can buy add-ons with your comprehensive bike insurance, by paying an additional premium. Some common add-ons are zero depreciation cover, personal accident cover, emergency roadside assistance, NCB protection cover, etc. You can choose add-ons with your policy as per the requirement & budget to enhance the policy coverage.

  • Claim Settlement Process

    Nowadays, most policy providers follow a customer-friendly claim-settlement approach. Before buying any policy, you must check the insurer's Incurred Claim Ratio (ICR). The ICR refers to the number of claims settled by the insurance provider against the total number of claims raised by their customer. Therefore, checking the ICR online of the insurer will allow you to evaluate the insurer's ability to settle the claims.

  • Seamless Bike Insurance Renewal Process

    Your bike insurance policy is valid for a certain period. Therefore, you must have to renew it before the expiry date to enjoy the coverage benefits. You can easily renew your two-wheeler insurance online at without any hassles. Moreover, here you can compare multiple bike insurance quotes to choose from as per your budget and requirement.

  • Customer Support Team

    One of the prominent factors that you must check while choosing an insurer is a 24x7 dedicated customer support team. Spontaneous customer assistance means they will assist you in resolving all the queries and settling claims whenever required.

  • Network Garages

    You must check the cashless repair garages or network garages available in your location. This facility offered by the insurer assists you with cashless repair services without spending cash from your own pocket.

  • Bike Insurance Premium

    According to your two-wheeler's IDV, make & model, policy coverage, and policy tenure, the insurance premium also varies. Hence, do not forget to check and compare the bike insurance premium for your respective bike model to get the right deal.

How to Buy Bike Insurance Plans Online?

To buy two-wheeler insurance plan online, follow the procedure given below-

  • Visit the official website of Policybazaar Insurance Brokers Private Limited
  • Scroll to the top of the page and click on two-wheeler insurance
  • Enter the detail required, including your bike registration number
  • Compare and select the bike insurance plan offered by different insurers
  • Choose any add-on covers as per your need & budget
  • Enter the required details such as owner, vehicle, and nominee details
  • Pay the premium amount through UPI, debit/credit cards, or internet banking
  • The policy will be issued, and you will receive the document on your registered email id.

KYC Documents Required to Buy/Renew Bike Insurance

As per the recent guidelines, all the general insurance companies have to complete the KYC of the customers to sell their two-wheeler insurance policies. 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 Documents Required for Proof of Address
Aadhar Card Aadhaar Card
Passport Passport
Driving License (DL) Driving License (DL)
Voter ID Card issued by the Election Commission of India Voter ID Card issued by the Election Commission of India
Ration Card with the photo of the applicant Ration Card with photo of the applicant

For more document details, click here- KYC Norms in Two-wheeler Insurance

How to Claim Bike Insurance Online?

There are two ways of filing a two-wheeler insurance claim online. You can lodge either a cashless claim or a reimbursement claim with your insurer.

Let us understand both types of bike insurance claims in detail-

  • Cashless Claim

    In the case of cashless claims, the insurer directly pays the claim amount to the network garage. However, you can avail of this facility only if you get your insured vehicle repaired at one of the network garages of your insurer.

    Cashless Claim Settlement Process

    1. Inform your insurer about the accident or mishap

    2. The insurer will send a surveyor to conduct an assessment and evaluate the loss of the insured vehicle

    3. Fill in the claim form and submit it along with all other required documents from the insurer’s website

    4. Once the insurer approves the claim request, send the insured vehicle to the network garage for repairs

    5. Post repairs, your insurer will pay the repair charges directly to the network garage

    6. You will be required to pay the deductibles or non-covered expenses (if any).

  • Reimbursement Claim

    When you get the repairs done at a garage that is not part of your insurer's list of approved garages, it is known as reimbursement claims services. In this case, you will pay the repair expenses from your own pocket and later file for reimbursement with your insurer.

    Reimbursement Claim Settlement Process

    1. Register the claim with your insurer

    2. Fill up the claim form and submit it to your insurer along with mandatory documents

    3. The surveyor sent by the insurer will estimate the repair cost and prepare an assessment report

    4. Once the insurer approves the claim request based on the assessment report prepared by the surveyor, your insured vehicle for repair at a non-approved garage

    5. Pay all the charges and clear the bill at the garage from your own pocket

    6. Submit all the bills, payment receipts as well as ‘proof of release’ to the insurer

    7. After the claim is approved, you will receive the claim amount in your registered bank account.

Documents Required for Filing a Bike Insurance Claim

Here is a list of documents that you need to submit at the time of filing a claim with your insurer-

  • Duly filled and signed claim form
  • A valid copy of the Registration Certificate (RC)
  • Valid Driving License (DL)
  • Valid two-wheeler insurance policy
  • Police FIR (in case of accidents, theft, and third-party liabilities)
  • Repair bill and payment of receipt in original
  • Proof of release (in case of reimbursement claim settlement process)

How to Renew Bike Insurance Policy?

For renewing your existing bike insurance policy, firstly you must check the expiry date. However, there are two methods of renewing your two-wheeler insurance policy, i.e. online bike insurance renewal and offline bike insurance renewal.

  • Online Two-Wheeler Insurance Renewal Process

    Renew your two-wheeler insurance policy online by filling up the renewal form available on the official website of Policybazaar Insurance Brokers Private Limited. Here, you can renew your bike insurance policy in just 60 seconds.

    Follow the below-mentioned steps to renew your two-wheeler insurance policy online-

    1. Go to the 'Two-wheeler renewal' tab from the 'Renew your policy' navigation available at

    2. Enter your bike registration number & other relevant information and click on 'View Prices'

    3. Choose the two-wheeler insurance plan from multiple quotes offered by insurers

    4. You can select the add-on covers as per your requirement

    5. After deciding a two-wheeler insurance plan for your vehicle, you will see the premium amount

    6. Fill in the proposal form containing owner details, nominee details, and vehicle details.

    7. You can choose any mode of online payment to pay the premium amount

    8. Once you pay the premium amount, the insurer will send the renewed bike insurance policy to your registered email id.

    9. For your convenience, you can download your policy document & get a printout. This is a valid document that you can show to the traffic police and save yourself from paying hefty traffic fines.

  • Offline Two-Wheeler Insurance Renewal Process

    You can traditionally renew a two-wheeler insurance policy by visiting the insurer’s nearest office. Here are the steps to renew two-wheeler insurance offline-

    1. Visit the nearest branch of your insurer or connect with the agent

    2. Keep mandatory documents handy along with the vehicle details and fill the same in the two-wheeler insurance renewal form

    3. The branch generally hands over the new policy immediately if you pay the premium by cash, demand draft, or debit card.

    4. If you choose cheque payment, you need time to clear it. Usually, in such cases, the insurer emails the policy documents to your registered email id.

Why Renew Your Bike Insurance Online from gives you an option to instantly renew your two-wheeler insurance online in just 60 seconds with the lowest guaranteed premium and save unnecessary hassle and costs. Buy & renew your motorcycle insurance policy & save up to 85%.

  • Compare various 2-wheeler insurance plans from leading insurers in India
  • Save money through a side-by-side comparison and choose a plan that fits your pocket well
  • Get assistance from our customer assistance team.
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How to Renew Your Expired or Lapsed Bike Insurance Policy?

You cannot afford to carry expired two-wheeler insurance while riding. Lapsed bike insurance means you might trap in a financial crisis in case of a road emergency.

Moreover, there is no coverage for own damages, third-party liabilities, and other consequences. The thumb rule is to renew the policy before the expiry date. Another reason to avoid renewal at the last moment or before the policy expiration date is to avoid inspection charges.

Here is how you can renew your expired two-wheeler insurance policy online-

  1. Firstly, check the grace period available for your bike insurance renewal which can range up to 90 days.
  2. Visit the official website of Policybazaar Insurance Brokers Private Limited and choose 'renew your policy' and then click on 'two-wheeler renew'
  3. Enter the bike number and click on 'view prices'
  4. Compare and choose affordable bike insurance from multiple options offered by top insurers
  5. At last, fill in the proposal form, which includes- vehicle owner details, vehicle details, and nominee details.
  6. Next, pay the bike insurance premium using UPI, net banking, or debit/credit card.

Things to Keep in Mind While Renewing Lapsed Bike Insurance Policy

Renewing a lapsed two-wheeler insurance policy includes some vital points that you should always keep in mind-

  1. Before renewing your lapsed bike insurance, you must compare plans from leading insurers and find a deal that meets all your requirements.
  2. Remember, there is no need to pay any additional charges or fees for the convenience of renewing lapsed bike insurance online.
  3. In India, most insurers do not have mandated vehicle inspections to renew lapsed bike insurance policies. Hence, you must check the process before buying.
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Bike Insurance Premium Rate in India

The premium or policy rate of comprehensive 2-wheeler insurance depends on certain external factors such as engine capacity, age of the vehicle, location, etc. On the other hand, IRDAI decides the price of the third-party policy.

The below table explains the third-party bike insurance premium rates in India that are applicable from 1st June 2022-

Engine Capacity (in CC) Annual third-party bike insurance rates 5-years third-party bike insurance rates
Up to 75 CC ₹538 ₹2,901
75 – 150 CC ₹714 ₹3,851
150 – 350 CC ₹1366 ₹7, 365
Above 350 CC ₹2804 ₹15,117

How to Compare Bike Insurance Plans Online?

Two-wheeler insurance can be a lifesaver in times of need. You can visit the official website of Policybazaar Insurance Brokers Private Limited to compare two-wheeler insurance premium quotes offered by multiple insurers.

While comparing plans, you must check various features, including NCB, IDV, and Incurred Claim Ratios (ICR) of all insurance companies.

However, there are quite a few things to check apart from the premium-

  • Inclusions & exclusions

    Several motor insurance companies offer both third-party and own-damage cover. It is your sole responsibility to check the coverages and features. Furthermore, understanding the terms and conditions will help you to file for bike insurance claims without any hassles.

  • Add-On or optional covers

    You can buy add-on covers with your comprehensive bike insurance policy by paying an extra premium. The common add-on covers include zero depreciation cover, NCB protection cover, roadside assistance cover, etc. The policyholder only needs to pay the nominal premium to enjoy add-on benefits.

  • Facilities and features available

    Amid cutthroat competition in the insurance market, motor insurance companies offer various features and benefits to help customers in the claim process. For instance, the customer assistance team operates round the clock, where the insurance experts guide you to select the right policy. Moreover, they assist you in policy renewal, claim settlement, and transfer of NCB (No Claim Bonus).

  • Claim process

    Nowadays, most policy providers follow a customer-friendly claim-settlement approach. They offer a customer support team to the insured to take their motorcycle to the nearest network garage. Essentially, the insurer bears all the expenses, and the policyholder only has to bear the expenditure that is not covered under their policy.

  • Incurred Claim Ratio (ICR)

    The bike insurance Incurred Claim Ratio (ICR) refers to the number of claims settled by an insurance company in comparison to the number of claims raised by their customers in a financial year. Therefore, you must check the ICR of the insurance provider, and a higher ICR means a higher chance of claim settlement by the insurer.

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Factors Affecting Bike Insurance Premium

Several factors determine the premium of your bike insurance policy. Check out the list of top factors that affect your two-wheeler insurance premium-

  • Coverage

    The level of policy coverage majorly affects your insurance premium amount. Since the third-party policy is mandatory & offers basic coverage, you will have to pay a lesser amount to avail its benefits as compared to a comprehensive plan.

  • Insured Declared Value

    The Insured Declared Value (IDV) of your bike is the estimated current market value of your vehicle. If the current market value of your vehicle is less, you will have to pay a lower bike insurance premium.

  • Age of the Vehicle

    The age of your bike is inversely proportional to its market value or IDV due to depreciation. The higher the age of your vehicle, the lesser will be the premium amount that you will be required to pay.

  • Make & Model of the Vehicle

    Lower-end bike models attract a lower level of coverage leading to lower premiums. On the other hand, high-end bike models will require a wider coverage, and hence you will pay a higher premium.

  • Engine Cubic Capacity (CC)

    The bike engine's cubic capacity is directly proportional to the bike insurance premium rates. This means higher engine CC will make you pay a higher premium.

  • No Claim Bonus

    NCB enables you to receive a discount on your premium at the time of renewal if you have not raised a single claim in the policy period. Hence, NCB reduces the bike insurance premium.

  • Geographic Location

    The place you will be riding your bike affects your premium places. For instance, metropolitan cities have higher risk exposure. Therefore, the premium amount will increase as the level of risk rises.

  • Deductibles

    A bike insurance deductible is the portion of the claim you pay before the insurance provider pays the rest of the claim amount. If you opt for the higher voluntary deductible, your insurer will offer you a discount on your premium, reducing the overall premium amount.

Two Wheeler Insurance FAQs

  • Q. Is bike insurance mandatory in India?

    Ans: Yes, as per the Motor Vehicle Act 1988, all two-wheeler owners must hold at least a third-party bike insurance policy.
  • Q. How many types of bike insurance are available?

    Ans: There are three types of bike insurance plans available in India-
    1. Third-party liability bike insurance
    2. Stand-alone Own-damage (OD) bike insurance
    3. Comprehensive bike insurance( third party + own damage cover)
  • Q. Which type of bike insurance is best?

    Ans: Since comprehensive bike insurance offers both third-party liability coverage and own-damage cover, you should consider this policy. However, if you have an old bike, buying a third-party policy will be the most convenient & affordable option.
  • Q. What is the rule of bike insurance in India?

    Ans: In India, if you buy a new two-wheeler, bike insurance is mandatory for a 5+1 year. This means a 5-year third-party plan + 1-year own-damage cover.
  • Q. What is the validity of a bike insurance policy?

    Ans:In the case of a brand new two-wheeler, you have to mandatorily buy a 5+1 years bike insurance policy.
    However, if you choose comprehensive two-wheeler insurance for your new bike, the validity will be of 3 years.
  • Q. What is the deductible in a bike insurance policy?

    Ans: Deductible refers to a part of the claim amount that policyholders have to pay from their pocket during the bike insurance claim settlement. This can be either mandatory or voluntary and helps to reduce the insurance premium.
  • Q. What is an endorsement in a bike insurance policy?

    Ans: An endorsement in a bike insurance policy is a process of making changes or modifications in the existing policy terms, vehicle details, or personal data of the policyholder.
  • Q. Where can I check my bike insurance policy details?

    Ans: You can directly contact the customer assistance team or find the details in the Policybazaar app available on both Android and iOS.
  • Q. What happens if I don't have bike insurance?

    Ans: Riding your bike without insurance is illegal in India. As per the Motor Vehicle Act 1988, you must have at least third-party liability cover; otherwise, you will end up paying a fine of up to ₹ 2,000 and/or imprisonment of up to three months on the first offense.
  • Q. How many times can I raise claims in my bike insurance policy?

    Ans: In a year, you can raise an unlimited number of claims under your bike insurance policy. However, it will hamper your claim history.
  • Q. What are cashless claims and reimbursement/non-cashless claims?

    Ans: Cashless claims refer to those services when your insured vehicle is being repaired at an authorized network garage of the insurer. In this case, the insurer directly pays the repair bill amount to the garage.
    While non-cashless or reimbursement claims refer to those services when your insured vehicle is being repaired at any non-network garage. In such a case, you will pay the total repair bill amount from your pocket, and the insurer reimburses the amount in your bank account.
  • Q. How many claims can I raise under zero depreciation?

    Ans: In Zero-dep cover, the claims vary from insurer to insurer. However, a minimum of two claims are offered under this, hence, you must read the policy inclusions before buying it.
  • Q. What to do if I miss my bike insurance renewal date?

    Ans: If you have missed the renewal date, you must check the grace period, which is offered by several motor insurers. You can easily renew it during the grace period which may range up to 90 days and keep your NCB intact.
  • Q. How to get a discount on the premium while purchasing/renewing a bike insurance policy?

    Ans: Here are a few pointers that you can follow to get a discount on premiums during bike insurance purchase/renewal-
    1. Install safety devices in your two-wheeler authorized by the ARAI (Automotive Research Association of India). It will reduce the risk factor associated and brings down the two-wheeler policy premium costs.
    2. Choose higher voluntary deductibles to get a lower bike insurance premium.
    3. Do not forget to utilize the accumulated No Claim Bonus (NCB).
    4. Become a member of the Indian Automobile Association. Here you will receive a membership to avail a lower two-wheeler insurance premium than usual.
  • Q. How is the two wheeler insurance premium affected?

    Ans: The premium payable for your two wheeler insurance policy is subject to its age and several other factors. This means that the IDV (Insured Declared Value) of your vehicle decreases with its increasing age and the premium payable for the same is also lowered.
  • Q. What are the details required to renew the insurance policy?

    Ans: It requires the policyholder's Driving License (DL) details, Registration Certificate (RC) number, last bike insurance policy number, and details of online payment modes such as UPI, net banking, or debit/credit cards.
  • Q. How can I buy/renew bike insurance online?

    Ans: Buying and renewing bike insurance online is a hassle-free process. You can visit, find the two-wheeler insurance tab to renew/buy, enter the vehicle details, contact information & nominee details, compare various plans, and lastly, pay the premium online.
  • Q. Is buying/renewing bike insurance online safe?

    Ans: Yes, buying or renewing bike insurance online is safe and convenient. Make sure you buy it from an IRDAI-registered insurer. You can easily check the IRDAI registration number at the bottom of the insurers' website.
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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Two Wheeler Insurance Reviews & Ratings
4.5 / 5 (Based on 1036 Reviews)
(Showing Newest 10 reviews)
Kurukshetra, October 31, 2022
Legal aid
My third party bike insurance from policybazaar provided legal aid in case of any accident.
Rohtak, October 30, 2022
Personal Accident cover
Two wheeler being my premium mode of communication, I bought a third party bike insurance from Policybazaar. It covered personal accidents at an affordable premium.
Noida, October 29, 2022
Affordable plans
I had to buy third-party bike insurance and finally decided to go with policybazaar. Plans are affordable yet give all the benefits. Their support is great and had no issues while purchasing it.
Banglore, October 28, 2022
No Paperwork
This is the 2nd time I renewed my third-party insurance from Policybazaar. They charge a very less premium as compared to other insurers and the process of obtaining it was also smooth and paperless.
Manesar, October 27, 2022
Fast Response
All the responses I have received from Policybazaar were very quick. They have cleared all my doubts. I wanted to renew my third party bike insurance but I was facing some difficulty in accessing my account online and they called me back. At last, they resolved all my querries and I renewed my policy without any hassles.
Pratapgarh, October 26, 2022
Easy Online Purchase
I have bought third-party bike insurance from Policybazaar online. They provided the plan as per my budget. I enjoyed a hassle free experience with them.
Sultanpur, October 25, 2022
Customising Plans
Without giving second thought I renewed my third party bike plan from Policybazaar. There was no inspection was required. While renewing my policy, I added pillion rider cover by paying an additional amount. The best thing was the customization, which I liked a lot.
Panipat, October 24, 2022
Affordable prices
Policybazaar has very affordable prices for a variety of insurance plans. I bought third party bike insurance and was very satisfied with theri results.
Ambala, October 23, 2022
No previous details needed
I got comprehensive two-wheeler insurance from policybazaar and at the time of renewing, my previous details of twi-wheeler were not required.
Rewari, October 22, 2022
Maximum savings
Policybazaar has multiple plans listed and I could compare each plan from different site and it sure has reasonable prices for every policy a man necessarily needs.
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