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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👉 Tap to Get Covered TodayWhat 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.
Types of Bike Insurance in India
Understanding the different types of bike insurance is essential to choose the right coverage:
- Legally mandatory
- Covers damages or injuries caused to third-party property or individuals
- Does not cover your own bike’s damage
1. Third-Party Bike Insurance
- Includes third-party liability + own damage cover
- Covers accidents, fire, theft, floods, riots, and more
- Offers peace of mind with extensive coverage
2. Comprehensive Bike Insurance
- Covers damages to your bike only
- Can be purchased separately if you already have third-party cover
3. Standalone Own-Damage Cover
Why Bike Insurance is Important
- Avoid fines and penalties by staying compliant with Indian traffic laws.
✅ Legal Compliance
- Accidents or bike theft can lead to big expenses. Insurance cushions you from financial loss.
✅ Financial Security
- You are legally and financially covered if your bike injures someone or damages someone’s property.
✅ Third-Party Liability Coverage
- Covers loss or damage due to floods, cyclones, earthquakes, etc.
✅ Protection Against Natural Calamities
- Ride stress-free knowing your bike and finances are protected.
✅ Peace of Mind
Coverage Under Bike Insurance
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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)
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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
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💠 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?
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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
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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
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🏥 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
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🧾 For Reimbursement Claims:
Inform the insurer
Get your bike repaired
Pay the bill and collect original invoices
Submit all documents for reimbursement
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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.
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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.
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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
Frequently Asked Questions (FAQs)
Yes. Third-party Bike Insurance is mandatory for all two-wheelers in India under the Motor Vehicles Act and helps you comply with legal requirements.
It covers accidental damage, theft, fire, natural calamities, and third-party liabilities, along with protection against several unforeseen risks depending on the chosen policy.
It covers injuries, death, or property damage caused to a third party, helping you meet your legal responsibilities in case of an accident.
NCB is a discount on your premium for every claim-free policy year, allowing you to save more on policy renewals over time.
Popular add-ons include:
Zero Depreciation
Engine Protection
Roadside Assistance
Consumables Cover
These add-ons provide enhanced financial protection and improve your overall insurance coverage.
Yes. However, the insurer may inspect the bike before renewal to assess its condition and determine eligibility for issuing the renewed policy.
Simple claims are generally settled within a few days after document verification, although the exact timeline may vary depending on the insurer and claim complexity.
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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