Bike Insurance

Bike Insurance

Owning a bike is not just about convenience and style — it’s also a responsibility. Whether it’s your daily commute or a weekend ride, your two-wheeler faces various risks on the road. That’s where Bike Insurance comes in. It protects you financially against accidents, theft, natural disasters, and third-party liabilities.

In India, it’s also a legal requirement to have at least third-party bike insurance. Let’s understand everything you need to know about bike insurance, why it matters, and how to choose the best plan for your needs.

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What is Bike Insurance?

Bike insurance is a financial protection policy that covers damages or losses caused to your bike or a third party due to accidents, theft, fire, or natural disasters. It ensures you don’t have to bear these costs out of pocket.

Under the Motor Vehicles Act, 1988, it is mandatory for all bike owners in India to have at least a valid third-party insurance policy.

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Types of Bike Insurance in India

Understanding the different types of bike insurance is essential to choose the right coverage:

    1. Third-Party Bike Insurance
  • Legally mandatory
  • Covers damages or injuries caused to third-party property or individuals
  • Does not cover your own bike’s damage
    2. Comprehensive Bike Insurance
  • Includes third-party liability + own damage cover
  • Covers accidents, fire, theft, floods, riots, and more
  • Offers peace of mind with extensive coverage
    3. Standalone Own-Damage Cover
  • Covers damages to your bike only
  • Can be purchased separately if you already have third-party cover

Why Bike Insurance is Important

    ✅ Legal Compliance
  • Avoid fines and penalties by staying compliant with Indian traffic laws.
    ✅ Financial Security
  • Accidents or bike theft can lead to big expenses. Insurance cushions you from financial loss.
    ✅ Third-Party Liability Coverage
  • You are legally and financially covered if your bike injures someone or damages someone’s property.
    ✅ Protection Against Natural Calamities
  • Covers loss or damage due to floods, cyclones, earthquakes, etc.
    ✅ Peace of Mind
  • Ride stress-free knowing your bike and finances are protected.

Coverage Under Bike Insurance

  • Depending on the policy type, your insurance can cover:

    Damage due to accidents

    Theft of the bike

    Fire and explosions

    Natural disasters (floods, earthquakes, storms)

    Man-made events (riots, strikes, vandalism)

    Personal accident cover for the rider

    Third-party bodily injury or death

    Third-party property damage


What’s Not Covered? (Exclusions)

  • Normal wear and tear

    Mechanical or electrical breakdowns

    Driving without a valid license or under intoxication

    Illegal racing or usage

    Damage outside India (unless international cover is opted)


Add-On Covers for Enhanced Protection

  • 💠 Zero Depreciation Cover

    Full claim on parts without depreciation deduction.

    🆘 Roadside Assistance

    Emergency help in case your bike breaks down.

    🪪 Engine Protection Cover

    Covers repair costs for engine damage due to waterlogging or oil leakage.

    🚖 NCB Protection

    Keeps your No Claim Bonus intact even after a claim.

    🧍‍♂️ Personal Accident Cover for Pillions

    Accident cover for co-riders or passengers.


What is No Claim Bonus (NCB)?

NCB is a reward for not raising any claim in a policy year. You get a discount on premium renewal — up to 50% after 5 consecutive claim-free years.

Pro tip: Don 't make small claims if you want to retain your NCB.

How is Bike Insurance Premium Calculated?

  • Premium depends on:

    Insured Declared Value (IDV)

    Bike’s make, model, and variant

    Age of the bike

    Cubic capacity (CC) of engine

    Location of registration

    Add-on covers chosen

    NCB and voluntary deductibles

  • Steps to Buy the Right Bike Insurance Plan

    Know your coverage needs

    Compare plans from multiple insurers

    Check the insurer's claim settlement ratio

    Understand inclusions and exclusions

    Select relevant add-ons

    Ensure the insurer offers a wide network of cashless garages


How to File a Bike Insurance Claim

  • 🏥 For Cashless Claims:

    Notify the insurer immediately

    Take your bike to a network garage

    Submit necessary documents (RC, DL, policy, FIR if required)

    The insurer will inspect and settle the bill directly

  • 🧾 For Reimbursement Claims:

    Inform the insurer

    Get your bike repaired

    Pay the bill and collect original invoices

    Submit all documents for reimbursement


  • Renewing Bike Insurance

    Never miss your policy renewal date. Riding with an expired policy can:

    Lead to fines

    Nullify your NCB benefits

    Leave you uninsured in case of damage or theft

    With Policyfy, you can renew your policy in just a few clicks — anytime, anywhere.

  • Why Buy Bike Insurance Online?

    With platforms like Policyfy, you can:

    Compare policies easily

    Get instant quotes

    Enjoy paperless and quick policy issuance

    Access digital copies anytime

    Save more with discounts


Electric Bike Insurance — The New Trend

As EV adoption rises, insurers now offer special electric bike insurance plans. These cover battery damage, theft, third-party liabilities, and more. If you ride an e-bike, ensure you're covered with a suitable policy.

  • Tips to Save on Bike Insurance

    Compare premiums before buying

    Avoid unnecessary add-ons

    Opt for a long-term plan (up to 3 years) for better pricing

    Keep your NCB intact

    Install anti-theft devices approved by ARAI


Conclusion

Whether you ride a scooter, a sports bike, or an electric two-wheeler — protecting it with the right bike insurance is crucial. It not only safeguards your finances but also gives you confidence on every ride.

At Policyfy, we help you find the perfect bike insurance plan with the right mix of coverage and price. From policy comparisons to renewals and claims, we’re your trusted insurance partner.

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We clearly state that insurance is a subject matter of solicitation and market risks. It is the responsibility of the customer to understand the limitations of insurance policies and the risks involved. We strongly recommend you to please go through the subject and offer documents carefully. Policyfy intends to provide clear and unbiased information about insurance products and services. We try to offer unbiased, accurate and responsible data to the best of our ability, but in no manner or form are responsible for any discrepancies in the data published on our website/ mobile application.

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BYR Insurance Brokers Private Limited
BYR Insurance Brokers Private Limited (CIN: U66000DL1998PTC095065)
Registered office: A-2, Udyog Nagar Industrial Area, Rohtak Road, Peeragarhi, New Delhi - 110041
Principal Officer: Mr Praneet Sharma | Email ID: po.byr@byrpolicy.com
IRDAI LICENSE NO: 547 | Category: Direct Insurance Broker (Life & General) | Validity of Registration: 19-Jan-2025 To 18-Jan-2028