Compare Bike Insurance Online

Why Compare Bike Insurance Online?

When insuring your two-wheeler, simply buying the first available policy might not be right for you in the long term. Comparing bike insurance plans online gives you options to choose from and empowers you to make the best decision. Here are a few listed reasons why you should compare bike insurance online:

1. Save money

   By comparing multiple bike insurance quotes from various bike insurance companies, you can easily find a policy that offers maximum benefits at the most affordable premium.

2. Get Customised Coverage

   Online comparison lets you get coverage based on your riding habits, bike model, and regional conditions. You can do this by purchasing add-ons with your comprehensive bike insurance or own-damage bike insurance policy. Here are some popular add-ons that meet your specific needs:

   • Zero Depreciation Cover
   • 24x7-Roadside Assistance Cover
   • Engine Protection Cover
   • No Claim Bonus (NCB) Protection Cover

3. Convenient Option

   Forget long queues, paperwork, and agent visits, as it allows you to browse, compare, and buy policies in the comfort of your home. It also saves time and effort, especially when renewing lapsed policies.

4. Transparent & Informed Decision Making

   Decision-making becomes easier as you get a side-by-side comparison of various components, such as premium rates, coverage, CSR, available add-ons, customer reviews, etc.

5. Easy Access to Policy Documents

   Once you finalise and purchase the policy, your documents are sent instantly to your registered email. You can easily access them and take a printout for a physical copy.

   Pro Tip: You can use Policybazaar's bike insurance calculator to get an estimated premium for your selected bike model. Moreover, here, you can compare various quotes offered by the

Top Key Factors to Consider While Comparing Bike Insurance in India

1. Type of Coverage

   • Third-Party Bike Insurance: It is legally mandatory and covers only third-party liabilities (injury, death, or property damage).
   • Comprehensive Bike Insurance: It covers third-party liabilities and own damage, such as accidents, theft, fire, natural disasters, etc.

2. Premium Amount

   Compare the annual premiums from all the insurers for similar types of coverage. A lower premium is attractive, but ensure it doesn't come at the cost of essential benefits or support.

3. Add-On Covers

   Some of the add-ons help enhance your basic policy. However, they must be purchased depending on your bike usage, age, and location.

4. Claim Settlement Ratio (CSR)

   This is the percentage of claims an insurer settles out of the total claims received. A high CSR (above 90%) indicates a reliable insurer. Check IRDAI reports for updated CSR data of a particular insurance company.

5. Insured Declared Value (IDV)

   IDV is the current market value of your bike, and it is the maximum amount you'll receive if the vehicle is stolen or totalled (75% damaged in an accident). Higher IDV means better compensation but may increase your premium slightly. Ensure the IDV offered is accurate. It should not be too low to reduce payout or too high to inflate premium.

6. Cashless Garage Network

   Look for insurers with a vast network of cashless garages near your locality. This simplifies repair when an unforeseen situation hits your bike and reduces out-of-pocket costs during claims.

7. Policy Tenure

   Opt for long-term bike insurance (up to 3 or 5 years) to avoid yearly renewals and enjoy benefits like locked-in premiums.

8. Customer Service & Claim Support

   Good customer service and responsive claims handling are crucial, especially during emergencies. Check reviews and ratings of the insurer on google or any third-party app or website to get a clear view.

9. Policy Inclusions & Exclusions

   Read the policy wording carefully. Understand what is covered and what is not. Moreover, read the T&Cs carefully to know.

How to Compare Bike Insurance Online at Policybazaar.com?

Follow these simple steps to compare and buy the best bike insurance policy on Policybazaar:

• Step 1: Go to Policybazaar.com; click 'Bike Insurance' on the homepage under the 'Insurance Products' menu or directly select 'Two Wheeler Insurance' from the main screen.
• Step 2: Now enter your bike's registration number; if you do not have it, click 'Don't know your bike number?'.
• Step 3: Select your bike's brand name, make, model, variant, city, and year of registration.
• Step 4: Provide basic details asked, such as your mobile number for OTP verification along with a few other details.
• Step 5: Now view and compare plans from a list of bike insurance quotes offered by various insurers. You can also compare the IDV of each plan and look at add-on options like zero depreciation cover, road assistance cover, engine protection cover, etc.
• Step 6: Select and buy the best plan that suits you based on your coverage, price, and features. At last, pay the premium amount using a secure payment method, UPI, banking cards, etc.
• Step 7: Once the payment is done, receive your policy documents instantly via registered email or SMS, or else you can download them by logging into your Policybazaar's account.