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Bike Insurance

Bike insurance policy covers the insured bike from the loss caused by accidents, theft, natural or man-made disasters. It also protects the insured bike owner from any third-party liabilities that may occur in a road accident. Hence, a bike insurance policy financially covers the damages or losses that happen to motorcycles, mopeds, and scooters due to several unforeseen circumstances.

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What is Bike Insurance?

Bike insurance policy provides financial protection to the insured bikes against various instances, such as accidents, theft, fire, and other incidents mentioned in the policy documents.

According to the Motor Vehicle Act 1988, third-party bike insurance is compulsory for all types of two-wheelers. A 3rd-party bike policy protects the bike owner in the event of road accidents that cause damage to the other party or person.

Therefore, buying or renewing bike insurance online is highly advisable to ensure compliance with legal requirements and avoid challans. Remember, this policy not only provides financial protection but also ensures adherence to regulatory standards.

Bike Insurance Price in India

In India, the bike insurance price for a comprehensive bike policy depends upon several factors, such as engine capacity, bike age, location, etc. On the other hand, the third-party bike insurance price is determined by IRDA.

The following table explains the 1-year bike insurance price and 5-year bike insurance price based on the cubic capacity (CC) of your bike:

Engine Capacity (in CC) 1 Year Bike Insurance Price 5 Year Bike Insurance Price
Up to 75 CC ₹538 ₹2,901
75-150 CC ₹714 ₹3,851
150-350 CC ₹1.366 ₹7,365
Above 350 CC ₹2,804 ₹15,117

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

E-Bike Insurance Price in India

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

Motor Capacity (in KiloWatt) 1 Year e-Bike Insurance Price 5 Year e-Bike Insurance Price
Up to 3kW ₹457 ₹2,466
3-7kW ₹607 ₹3,273
7-16kW ₹1,161 ₹6,260
More than 16kW ₹2,383 ₹12,849


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

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Bike Insurance Policies 2024

At Policybazaar.com, bike insurance policy starts at ₹1.3/day*. Buy and compare two wheeler insurance plans without any hassles. You can now renew your expired bike insurance policy online from foremost bike insurers with lowest premiums in just 60 seconds.

  • Quick Policy Issuance
  • No Inspection, No Extra Charges
  • Lowest Premium Guarantee on the bike Insurance Plan
Bike Insurance Companies Cashless Garages Third-Party Cover Personal Accidental Cover Claim Settlement Ratio Policy Term (Minimum)
Bajaj Allianz General Insurance 4500+ ₹ 15 Lakh 96.5% 1 Year
Cholamandalam MS General Insurance 6912+ ₹ 15 Lakh 98.0% 1 Year
Future Generali India Insurance Company 3500+ ₹ 15 Lakh 87.4% 1 Year
Go Digit General Insurance Ltd 1400+ ₹ 15 Lakh 97.0% 1 Year
HDFC ERGO General Insurance 2000+ ₹ 15 Lakh 100.0% 1 Year
IFFCO Tokio General Insurance 4300 ₹ 15 Lakh 95.8% 1 Year
Kotak General Insurance 3000+ ₹ 15 Lakh 98.0% 1 Year
Liberty General Insurance 4300+ ₹ 15 Lakh 98.0% 1 Year
National Insurance Company 900+ ₹ 15 Lakh 93.0% 1 Year
New India Assurance Co. Ltd. 1173+ ₹ 15 Lakh 91% 1 Year
The Oriental Insurance Company 3100+ ₹ 15 Lakh 94.0% 1 Year
Reliance General Insurance 8700+ ₹ 15 Lakh 98.6% 1 Year
SBI General Insurance 16000+ ₹ 15 Lakh 94.0% 1 Year
Shriram General Insurance 2000+ ₹ 15 Lakh 98.0% 1 Year
TATA AIG General Insurance 7500+ ₹ 15 Lakh 98.0% 1 Year
United India General Insurance 500+ ₹ 15 Lakh 95.0% 1 Year
Universal Sompo General Insurance 3500+ ₹ 15 Lakh 90.0% 1 Year
ZUNO (Formerly Edelweiss) General Insurance 1500+ ₹ 15 Lakh 89.0% 1 Year
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*Disclaimer: The Claim Settlement Ratio (CSR*) ratio mentioned above is as per the figures mentioned in the IRDA motor insurance annual report 2021-22. Policybazaar.com does not endorse, rate, or recommend any particular insurer or insurance product offered by an insurer.

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7 Reasons to Buy Bike Insurance Online

Below are the mentioned are the significant reasons to buy two-wheeler insurance online from Policybazaar.com and avail certain additional benefits:

  • Quick Policy Issuance: You can buy two-wheeler insurance at Policybazaar.com in just 60 seconds
  • Pay No Extra Charges: No need to pay any extra charges or hidden fee.
  • No Previous Year Policy Details Needed: You don't have to provide details of your previous bike insurance policy in case it has expired for more than 90 days.
  • No Inspection or Documentation: You can get your policy renewed without any inspection and documentation.
  • Easy Renewal of Expired Policy: You can easily renew your expired or lapsed policy on the website.
  • Quick Claim Settlement: Policybazaar.com team helps you while filing and settling your bike insurance claims without any hassles.
  • Online Support: Policybazaar.com online support team is available 24x7 for your support.
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How to Buy/Renew Bike Insurance Policy Online?

Buying two wheeler insurance online from Policybazaar.com is convenient. Follow the below steps to get a copy of your 2-wheeler insurance online in your registered email id:

  • Step 1: Visit the official website of Policybazaar Insurance Brokers Private Limited.
  • Step 2: Go to the 'Bike Insurance'  tab from the 'Insurance Products'' drop-down menu.
  • Step 3: Enter your bike registration number & other relevant information.
  • Step 4: Compare & choose bike insurance plans offered by top bike insurance companies in India.
  • Step 5: Select the required add-on covers. You can update IDV as per your requirement. Ensure your IDV is 10% less than Previous Year Policy.
  • Step 6: After completing the process, you will see the premium amount that you need to pay.
  • Step 7: You can choose any mode of online payment (debit/credit card, UPI, Internet Banking).
  • Step 8: Once the payment is done, your bike insurance policy will be renewed or purchased online within 60 seconds.

Your online bike insurance policy documents will be emailed to your registered email address. You can also download bike insurance policy document & get a printout. This is a valid document & you can show to the traffic police & save yourself from paying heavy traffic fines.

In addition, a two-wheeler insurance policy can be traditionally purchased or renewed by visiting the insurer's nearest office. The process is straightforward, but you must find time to visit the branch. You need to know your policy and vehicle details and fill them out in the application form. The branch immediately hands over the new policy if you pay the premium by cash, demand draft or debit card.

KYC Documents Required to Buy/Renew Two Wheeler Insurance

As per the recent guidelines, all the two-wheeler insurance companies have to complete the KYC of the customers to sell their 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/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

Check other documents required in this: KYC document required for buying/renewing bike insurance policy

Types of Bike Insurance Policy 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:

  • 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.

  • Own Damage Bike Insurance

    The own damage bike insurance is also known as 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.

  • Comprehensive Bike Insurance

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

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

The following table illustrates different features that you can compare under third-party (TP), comprehensive, and standalone bike insurance:

Points of Basis Third-Party Bike Insurance Own-Damage Bike Insurance Comprehensive Bike Insurance
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

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Coverage Under Bike Insurance

  • What is Covered?
  • What is Not Covered?

If you plan to buy or renew a two-wheeler insurance policy for your bike, you must look into the inclusions offered by two-wheeler insurance companies. See below a detailed list of inclusions:

  • Natural & Manmade Disasters Coverage
    Any loss or damage caused to the insured vehicle due to natural calamities, such as lightning, earthquakes, floods, cyclones, storms, hailstorms, landslides, etc. will be covered.
    In addition, it offers coverage against the damages caused due to various manmade disasters, such as riots, strikes by outside means, malicious acts, terrorist activity, and any damages caused in transit by road, rail, inland waterway, lift, elevator, or air.
  • Own Damage Coverage
    This cover safeguards the insured vehicle against any loss or damage caused by accidents, fire, self-ignition, or explosions.
  • Theft or Burglary Coverage
    The policy will compensate the owner if the insured motorcycle or scooter gets stolen.
  • Third-Party Liabilities Coverage
    It offers coverage against any legal loss of money due to injuries to a third party in the surroundings, which may have even led to their demise. Similarly, it protects against any damage caused to any third-party property.
  • Damage caused by normal wear and tear of the bike.
  • Damage caused due to mechanical/electrical breakdowns in the two-wheeler.
  • Depreciation or any consequential loss from regular use.
  • Any damage to tyres and tubes in the normal course of running.
  • Any loss incurred while the bike was being used beyond the scope of coverage.
  • Damage/loss incurred when the policyholder was driving the motorcycle without a valid driving license
  • Any loss/damage caused due to the driver being driving under the influence of alcohol or drugs
  • Any damage/loss incurred due to war, mutiny, or nuclear risk.

Bike Insurance Add-on Covers

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.

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

  • Personal Accident Cover
    Compulsory Personal Accident (PA) cover in bike insurance is an add-on offered to the owner of the insured two-wheeler only if they 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 and is available with both third-party and comprehensive bike insurance policy.
  • Zero Depreciation Cover
    An insurer pays the claim amount after deducting the depreciation value of your bike. Zero dep cover in bike insurance eliminates any deduction on account of depreciation at the time of claim settlement, and the full amount will be paid to you.
  • 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 in bike insurance (NCB). This NCB ranges from 10% to 50%.
    With the help of NCB protection cover in bike insurance, a policyholder can retain the NCB and get a discount during renewals, even if they raise any claim during their policy tenure.
  • 24x7-Roadside Assistance Cover
    This cover enables the policyholder to avail emergency roadside assistance for the bike from the insurer within a specified distance mentioned in the 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.
  • Return to Invoice Cover
    At the time of total loss or theft of the insured bike, your insurance company will pay your '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.
  • Engine Protection Cover
    Engine protection cover in bikes 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.
    The engine protection cover also 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 significant issue, this add-on is a must-buy.
  • 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.
  • 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.
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How to Calculate Online Bike Insurance Premium?

Policybazaar.com provides a free online bike insurance calculator that will assist you in assessing your requirements and providing appropriate premium options. Here, you have to select the basic details about your two-wheeler, such as make, model, variant, ex-showroom price, city of registration, year of purchase, and any claims raised in the past to calculate and get the estimated bike insurance premium.

The Policybazaar's bike insurance calculator tool gets the 'best two-wheeler insurance plans'. After that, you can compare two-wheeler insurance plans and instantly pay via UPI, debit/credit card, or Internet banking for the plan that suits your interests and fulfils your needs. Whether you want motorcycle or scooter insurance, you can check out the two-wheeler insurance policies offered by various insurers in India.

How to Save Premium on Bike Insurance?

You can save on your two-wheeler insurance premium in several ways without compromising on your policy coverage. Check them out below:

  • 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: It is essential to be aware of the year of manufacture of your bike. Older motorcycles attract lower premium rates due to lower Insured Declared Value (IDV).
  • Install Safety Devices: You should consider safety devices that can enhance the safety of your bike. This is because your insurer will take cognizance of your installation 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, your insurer will acknowledge it by offering lower premium rates.
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Why Buy/Renew Bike Insurance Policy Online from Policybazaar.com?

Policybazaar.com gives you an option to renew your bike insurance online in just 60 seconds with the lowest guaranteed premium and save unnecessary hassle and costs. Buy or renew motorcycle insurance policy & save up to 85%.

  • Compare various 2 wheeler insurance plans from leading insurers
  • Save money through a side-by-side comparison and choose a plan that fits your pocket well
  • Get assistance from our claim assistance team
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How to Claim Two Wheeler Insurance Online?

At Policybazaar.com, you have two options to raise bike insurance claims: cashless and reimbursement claims. Let us get into the details of both types of bike insurance claims:

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. Follow these steps for a smooth bike insurance cashless claim settlement process:

  • Report the Incident: Inform your insurer about the accident or mishap.
  • Damage Assessment: A surveyor will conduct an assessment to estimate the damage.
  • Claim Form Submission: Fill in the claim form and submit it along with the necessary documents.
  • Repair Approval: The insurer approves the repair request.
  • Garage Repairs: Send your damaged two-wheeler to the network garage for repairs.
  • Direct Payment: After repairs, the insurer pays the repair charges directly to the garage.
  • Deductibles Payment: You may be required to pay deductibles or non-covered expenses.

Reimbursement Claim Settlement Process

You can file a reimbursement claim if you choose to get repairs done at a non-network garage. Here is the step-by-step process to raise bike insurance reimbursement claims:

  • Claim Registration: Register the claim with your insurer.
  • Documentation: Fill out the claim form and submit it along with the required documents.
  • Cost Estimate: A surveyor estimates the repair cost, and you'll be informed about the assessment.
  • Non-Authorized Garage Repairs: Get your two-wheeler repaired at a non-authorized or non-cashless garage.
  • Post-Repair Inspection: After repairs, the insurer conducts another inspection.
  • Bill Settlement: Pay all charges and clear the bill at the garage.
  • Document Submission: Submit all bill payment receipts and 'proof of release'' to the insurer.
  • Claim Approval: Once the claim is approved, you will be reimbursed for the amount.

Documents Required for Filing Bike Insurance Claim

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.

What are the Benefits of a Bike Insurance Policy?

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

On this note, let us look at the various key benefits of buying 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, a 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 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: This 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 now can avail of personal accident cover of ₹ 15 lakh under their two-wheeler insurance policy as a mandatory add-on cover available with both third-party and comprehensive bike insurance policy.
  • 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. Owners with an unblemished record also receive concessions via NCB.
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How to Compare Bike Insurance Plans Online?

Two-wheeler insurance can be a lifesaver in times of need. In addition to protecting against accountabilities due to injuries caused to a third-party person or their property or collateral, it also provides an accident cover and protection against damages caused to the vehicle. You can easily buy the policy for your vehicle over the Internet, from the agent's offices, or directly from the companies.

Policybazaar.com allows you to compare two-wheeler insurance premium quotes based on the insurer's Claim Settlement Ratio, coverage, add-ons, etc. You can also use the bike insurance calculator to find the premium rates for different plans provided by insurers in India.

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

  • Type of 2-Wheeler Insurance

    Several motor insurance companies offer both third-party and comprehensive policies. However, if you want full-proof coverage against several risks, you must buy a comprehensive bike insurance policy.

  • Add-On or Optional Covers

    By paying an extra premium, the add-on covers can be bought. Add-on covers include zero depreciation cover, personal accident cover, 24/7 roadside assistance cover, pillion rider cover, etc. You only need to pay the extra premium to avail of the services.

  • Facilities and Features Available

    Understanding the cut-throat competition in the market, insurance companies offer various features and benefits to help consumers in the claim process. Policybazaar Insurance Brokers Private Limited operates round the clock with experts who can guide and help you select the right policy and assist in policy renewal and transfer of NCB (No Claim Bonus).

    In addition, many bike insurance companies provide concessions to members for installing ARAI-approved anti-theft devices on their bikes. They even go the extra mile and ensure that the customers do not have to follow up with the repair workshop in case of cashless repairs.

  • Claim Process:

    Nowadays, most insurance policy providers follow a customer-friendly claim-settlement approach. They assist the insured to take their motorcycle to the nearest authorized service centre. Essentially, the insurer bears all the expenses; the owner has to pay only the expenditure not covered under their policy, along with service charges and taxes. Hence, always check the insurer's Claim Settlement Ratio before buying a policy.

  • Renewal Process:

    Most of the insurers provide two-wheeler insurance renewal facilities over the Internet. Buying two-wheeler insurance online is an easy option for everyone. Besides, the companies that offer electronically signed policies are much better, as you can simply recharge (when required), print it from the website and keep the RC and other necessary documents with you while riding the vehicle.

  • Discounts Available:

    While comparing, it makes sense to opt for companies that offer discounts, such as no claim bonus (NCB), discounts to members of a recognized automotive association, installation of anti-theft devices, etc. Moreover, some companies may offer an additional discount for online policy renewal, purchases made through certain apps or credit cards and NCB for each claim-free year. Most of the companies also provide significant concessions on additional covers. But before making the policy purchase, it is essential to check the website for details.

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Common Bike Insurance Terms

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

  • 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.
  • 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. 
  • 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.
  • Deductible
    Bike insurance deductible refers to a portion of a claim you agree to pay while settling the accidental claims. 
  • 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.
  • 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.
  • 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. 
  • 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. 
  • 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. 
  • 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.
  • 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.
  • 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.
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FAQs about Bike Insurance

  • 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. Which type of bike insurance is best?

    Ans: Since comprehensive bike insurance offers both third-party coverage and 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. Which insurance is best for bikes, 1st party or 3rd party?

    Ans: The insured vehicle is financially covered against several unforeseen risks in first-party insurance. That's why it is also known as its own damage cover. In contrast, 3rd party insurance policy covers the losses or damages caused to the third party, property, or person in a road accident. It is advised to purchase a comprehensive bike insurance policy as it covers both first-party and third party simultaneously.
  • Q. What is 2nd party insurance for bikes?

    Ans: In bike insurance, 2nd party refers to the insurance company which provides insurance services to the customers in exchange for a premium amount.
  • Q. Is first-party insurance compulsory?

    Ans: As per the Motor Vehicle Act 1988, purchasing first-party insurance for your bike is not compulsory in India.
  • Q. Which insurance is compulsory for 2-wheelers?

    Ans: According to the Motor Vehicle Act 1988, a third-party bike insurance policy is mandatory in India.
  • Q. What is 5-year bike insurance?

    Ans: In the case of a brand new two-wheeler, it is mandatory to buy a 5-year insurance policy, which means a 5 year third-party plan + 1 year own damage cover.
  • Q. What is the deductible in a bike insurance policy?

    Ans: Deductible refers to a part of the claim amount that policyholders must pay from their pocket during the settlement of the bike insurance claim. This can be mandatory or voluntary and helps 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 Insurance Brokers Private Limited 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 requires 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 offence.
  • Q. Can we claim bike insurance without DL?

    Ans: You can raise a claim under your bike insurance policy without a DL. To understand this, read this – Can I raise a bike insurance claim without DL or RC?
  • Q. Can we claim bike insurance without an accident?

    Ans: If any damages are due to road accident, you can quickly raise a claim under your own damage cover or comprehensive bike insurance policy.
  • Q. How much GST is on two-wheeler insurance?

    Ans: As per the taxation norms in India, you must pay a GST of 18% on your two-wheeler insurance premium.
  • Q. What to do if I miss my bike insurance renewal date?

    Ans: If you missed the renewal date, you must check the grace period several motor insurers offer. 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 bring down the two-wheeler policy premium costs.
    2. Choose higher voluntary deductibles to get lower bike insurance premiums.
    3. Remember 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 of a lower two-wheeler insurance premium than usual.
  • Q. How can I buy/renew bike insurance online?

    Ans: Buying and renewing bike insurance online is a hassle-free process. You can visit Policybazaar.com, find the two-wheeler insurance tab to renew/buy, enter the vehicle details, contact information & nominee details, compare various plans, and 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 IRDA-registered insurer. You can quickly check the IRDA registration number at the bottom of the insurers' website.
  • Q. Can I edit my bike insurance details?

    Ans: Yes, you can easily change details in your bike insurance policy, such as mobile no., email ID, address, etc., through bike insurance policy endorsement.
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Two Wheeler Insurance Reviews & Ratings
4.5 / 5 (Based on 1298 Reviews)
(Showing Newest 10 reviews)
Talib
Surat, May 30, 2024
Affordable Bike Insurance Premium Rates
Competitive premium rates offered by Policybazaar make it easy to secure my bike with a reliable coverage without worrying about my finances.
Ashish
Jodhpur, May 26, 2024
Zero Paperwork
I love the convenience of zero paperwork, making the entire insurance purchase and renewal process seamless. Thanks PB!
Tnmay
Saharanpur, May 21, 2024
Availability of Add ons
Policybazaar offer a wide range of add-ons like personal accident cover, roadside assistance, etc., which allowed me to customize the plan according to my needs.
Adil
Kanpur, May 19, 2024
Zero Depreciation Benefits
With zero dep bike insurance policy from Policybazaar, I can ensure full coverage without deductions for depreciation of bike parts.
Vika
Gorakhpur, May 17, 2024
No Claim Bonus Benefits
I appreciate their attractive No Claim Bonus (NCB) policy, rewarding safe riders with discounts on subsequent renewals offered by Policybazaar.
Asgar
Patna, May 15, 2024
Hassle-free Claim Process
The claim process is remarkably hassle-free as I got my bike policy from Policybazaar.com. Thanks for the quick turnaround times and excellent customer support throughout.
Tanmay
Gajner, May 13, 2024
Accidental Coverage
Policybazaar’s bike insurance includes extensive accidental coverage, safeguarding you against unexpected events on the road. Thanks for this comprehensive coverage.
Anuj
Bhagalpur, May 08, 2024
Legal Requirement
Policybazaar.com offers third-party liability coverage that meets all legal requirements, ensuring peace of mind while riding legally on the roads.
Daksh
Sikandarpur, May 04, 2024
Compare and Buy Policy
Policybazaar.com user-friendly platform allows easy comparison of bike insurance plans, helping you choose the best one suited to your requirements.
Deepak
Bareli, May 01, 2024
Quick Policy Issuance
Since my bike policy was expired and I needed insurance coverage urgently, and Policybazaar delivered. Their quick policy issuance meant I was able to get on the road with peace of mind in no time.

^The renewal of insurance policy is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. Actual time for a transaction may vary subject to additional data requirements and operational processes.

^The buying of Insurance policy is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. Actual time for transaction may vary subject to additional data requirements and operational processes.

#Savings are based on the comparison between highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB.

*TP price for less than 75 CC two-wheelers. All savings are provided by insurers as per IRDAI-approved insurance plan. Standard T&C apply.

*Rs 538/- per annum is the price for third party motor insurance for two wheelers of not more than 75cc (non-commercial and non-electric)

#Savings are based on the comparison between the highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB.

*₹ 1.5 is the Comprehensive premium for a 2015 TVS XL Super 70cc, MH02(Mumbai) RTO with an IDV of ₹5,895 and NCB at 50%.

*Rs 457/- per annum (1.3/day) is the price for the third-party motor insurance for private electric two-wheelers of not more than 3KW (non-commercial). Premium is payable on an annual basis

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