Bike Insurance in Delhi

Why is Bike Insurance Essential in Delhi?

As a Delhiite, if you own a two-wheeler, the high traffic density, significant risk of theft, and concerning accident statistics highlights the importance of having a right bike insurance policy.

Let" s delve into these in details as per the Delhi Traffic Crash Report 2023, which shows how important a bike insurance policy is:

1. High Vulnerability of Two-Wheeler Riders in Accidents

   • In 2023, two-wheelers accounted for 38% of total road crash fatalities and 43% of the injured in Delhi.
   • The number of fatal crashes involving scooters/motorcycles has shown an increasing trend from 2021 to 2023.
   • In 2023, 538 scooter/motorcycle riders were killed in road crashes in Delhi.
   • Two-wheeler riders emerged as the second most fatal crash-prone victims in Delhi in this year.

2. Specific High-Risk Roads and Zones for Two-Wheelers

   • Roads like Ring Road have a high incidence of crashes involving two-wheelers, experiencing the highest number of both simple and fatal two-wheeler crashes during both day and night.
   • Sixteen specific crash-prone zones for two-wheelers have been identified across Delhi traffic police, highlighting areas with a higher risk of accidents for riders.
   • Numerous blackspots across Delhi, such as ISBT Kashmiri Gate and Mukarba Chowk, record a high number of crashes where two-wheelers are likely to be involved.

3. High Rate of Traffic Violations by Two-Wheeler Riders

   • In the capital city, 1,98,164 riders were prosecuted for not wearing helmets in 2023. This indicates a prevalent risky behavior that increases vulnerability in case of an accident.
   • Around 8,23,100 challan were issued to motorcycle and scooter riders in 2023 leading to the highest number of challan issued in the city.

4. Increasing Bike Theft Cases

   • Delhi NCR is a hotspot for vehicle theft as More than half of all vehicles stolen in the entire country are from Delhi/NCR only, especially for two-wheelers.
   • On average, a vehicle is stolen every 12 minutes in Delhi.

How to Find the Right Bike Insurance Policy in Delhi?

To find the right bike insurance policy, here are a few key pointers that you have to keep in mind:

• Assess Your Coverage Needs: You have to decide between a basic & mandatory third-party bike insurance policy and a comprehensive bike insurance policy. To make this decision, consider your bike" s age, usage, and the traffic conditions that you will typically encounter in Delhi.
• Compare Insurance Quotes Online: Always use the bike insurance calculator provided by Policybazaar.com. Here you will get an estimated insurance premium for your two-wheeler model in Delhi, saving your time & efforts.
• Check the CSR: A higher Claim Settlement Ratio (CSR) indicates the insurer" s capabilities in settling claims quickly. Therefore, choose a company with a higher CSR.
• Relevant Add-on Covers: Looking at the traffic conditions & theft cases in Delhi, it is a wise idea to choose roadside assistance cover and Return-to-Invoice (RTI) cover.
• Verify Network Garages in Delhi: If you opt for a comprehensive bike insurance coverage, check if the insurer has a good network of authorized garages conveniently located in your nearby area for doing cashless repairs.
• Read Policy Terms Carefully: Always read and understand the policy coverage (inclusions & exclusions) of the policy carefully. Moreover, look at T & Cs carefully and pay attention to the compulsory deductible (the amount you pay from your own pocket at the time of claim settlement).
• Look at Customer Reviews: Check online reviews and ratings to get an idea of other customers' experiences with the insurer's service and claim process in Delhi.

4 Tips for Comparing Bike Insurance in Delhi

1. Compare Premiums Against Coverage: While price is a factor, don" t solely focus on the cheapest bike insurance in Delhi. Evaluate the coverage offered in relation to the premium, keeping in mind the higher number of accidents and theft cases prevailing in Delhi. Remember, a comprehensive bike policy will be more beneficial in the long term.
2. IDV is Important: Insured Declared Value (IDV) plays an important role in determining the policy premium. It determines the current market value of the bike. Notably, for a new bike, choose an IDV based on the on-road price and for older two-wheelers, consider depreciation while selecting it. This helps in determining the claim settlement amount in case of theft or total loss of the insured bike.
3. Check for Discounts on Premium: There are bike insurance providers offering discounts for bikes equipped with ARAI-approved anti-theft devices. Moreover, maintain a clean driving record by following traffic rules and regulations & avoid accidents. This will further help in enjoying a discount on your premium in the form of NCB. It is a reward given to the policyholder for claim-free years during the policy term.

Which Type of Bike Insurance Coverage Would be Ideal in Delhi?

In Delhi, a comprehensive bike insurance policy is considered to be an ideal policy. The reason being frequent bike theft, the city's high traffic density, and increased risk of accidents.

the better choice due to the city's high traffic density, increased risk of accidents, and frequent bike thefts. Unlike third-party insurance, a comprehensive policy covers both third-party liabilities and damages to your own bike, including protection against theft, natural disasters, and accidents. Given Delhi" s extreme weather conditions, like heavy rains and heatwaves, comprehensive 2-wheeler insurance plan with add-ons such as engine protection, zero depreciation, and roadside assistance offer enhanced security.

How to Buy Bike Insurance Online in Delhi?

By following the below steps, you can easily buy bike insurance online in Delhi through Policybazaar.com:

• Step 1: Visit the home page and hover over the "2-wheeler insurance" option, then click on it.
• Step 2: Click on "Buying a New Bike?" if you're insuring a new bike. For renewals, enter your bike" s registration number and click on "View Prices" .
• Step 3: Select Delhi as your city of registration, and provide other details like the make, model, variant (MMV) of the bike, year of registration, and other questions to get quotes from different insurers.
• Step 4: Compare the available plans, review the features and benefits, and choose the one that suits your budget and coverage needs. Select useful add-ons like zero depreciation cover, return-to-invoice cover, roadside assistance cover, etc.
• Step 5: Pay the premium securely via UPI, net banking, or card payment methods.
• Step 6: Once the payment is complete, the policy document will be sent to your registered email ID instantly.

What is the Challan for Not Having Bike Insurance in Delhi?

Once you are caught riding a bike/scooter without a mandatory third-party bike insurance policy in Delhi, you have to pay a challan of ₹2,000 for the first offense, and up to ₹4,000 for subsequent offenses. Additionally, you could face legal action as per the Motor Vehicles Act, 1988.