Bike Insurance in Bangalore

Why Bike Insurance is Essential in Bangalore?

Bike insurance in Bangalore offers financial protection against damages, theft, accidents, and third-party liabilities. In Bangalore, where traffic congestion and road mishaps are common, insurance acts as a safety net, helping riders effectively manage repair costs and legal liabilities.

1. High Traffic Congestion and Road Accidents

   Bangalore is known for its traffic congestion, with roads packed with two-wheelers, cars, and buses. The increased risk of accidents makes bike insurance policy essential for financial protection against damages and liabilities.

   The following table provides insights into accidents that took place from 2020 to 2024 (October) in Bangalore City:

   

2. Rising Traffic Offences and Challans

   Traffic violations in Bangalore have increased, leading to hefty fines and legal complications. The table below highlights the trend in traffic offences and fines collected:

   

3. Increasing Risk of Bike Theft

   With Bangalore being a metropolitan city, bike theft cases are common. Having comprehensive bike insurance in Bangalore ensures financial security in case of theft.

Finding the Right Bike Insurance Policy in Bangalore

You must follow a strategic approach to find the best bike insurance in Bangalore. With that saying, here is a list of factors that affect your insurance premium, and you should be careful about them:

• Bike's Age and Model: The rule is simple: a newer or high-value model means a higher premium.
• Riding History: More claims can increase the premium rates significantly.
• Add-on Covers: Since bike insurance add-ons ensure enhanced protection, this customization comes with a nominal additional premium.
• No Claim Bonus (NCB): Enjoy a discount on your own damage bike insurance premium during the renewal for not raising a single claim during the policy term. This helps in reducing the overall premium cost of the policy.

4 Tips for Comparing Bike Insurance Policies in Bangalore

You can start this by following the below-mentioned few tips:

1. Use Online Bike Insurance Calculator: You can find the estimated bike insurance premium using a free online calculator available at Policybazaar.com. The calculator will display the estimated premium and IDV (Insured Declared Value) once you enter your bike's details, such as make, model, year of registration, etc. Moreover, it allows users to compare various bike insurance quotes offered by different insurers and buy a policy online.
2. Choose Essential Add-ons: Always prioritise those add-ons which fit your specific needs for enhanced protection at an affordable rate.
3. Check Customer Feedback & CSRs: Always choose an insurer with a strong reputation in the industry. Therefore, their customer feedback and Claim Settlement Ratio before buying it.
4. Cashless Claim Settlement: It will be in your favour if you opt for an insurer offering a highest number of cashless garages or authorized network garages in your location.

Which Type of Bike Insurance Coverage Will be Ideal in Bangalore?

Given the conditions in Bangalore city, dense traffic, frequent road accidents, monsoon weather, and high vehicle theft rates, the comprehensive bike insurance policy with bike insurance add-on covers like zero depreciation, roadside assistance, and engine protection cover would be ideal for most riders. This type of coverage ensures your bike is protected against a wide range of risks, and you can ride confidently without worrying about significant financial losses.

Additionally, if you're a seasoned rider with a good accident record, consider adding NCB Protection cover, as it will help you save on premiums even if you raise a claim.

How to Buy Bike Insurance Online in Bangalore?

To purchase bike insurance online in Bangalore, follow the below procedure:

• Step 1: Visit the official website of Policybazaar Insurance Brokers Private Limited.
• Step 2: Click the '2-wheeler Insurance' button on the home page.
• Step 3: For a new bike, click on 'Buying a New Bike?' and enter the asked details such as city, make, model variant, RTO, etc. However, to renew your bike insurance, enter your bike's registration number in the desired field and click 'View Prices'.
• Step 4: Check and compare various plans offered by different insurers online and choose the one as per your need & budget.
• Step 5: If required, you can choose add-ons. Fill out the required details.
• Step 6: Lastly, pay the bike insurance premium online using UPI, debit/credit cards, or internet banking.
• Step 7: Once done, the insurance provider will send the policy document to your registered email ID.

What is the Challan for Not Having a Bike Insurance Policy in Bangalore?

According to the Motor Vehicles Act 2019, the challan for no bike insurance in Bangalore can lead to the following consequences:

• First Offence: ₹1,000 fine and/or imprisonment of up to three months.
• Subsequent Offences: ₹4,000 fine and/or imprisonment of up to three months.