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Buy Bike Insurance plan in a few simple steps
With 60+ years of experience in financial services, Bajaj Capital works with multiple insurers to help customers compare and choose suitable bike insurance plans.
Apply online and, once payment is completed, the policy is issued directly by the insurer, without long waiting periods. Bajaj Capital facilitates the process as a broker.
Explore the various bike insurance policies from insurers in our single unified platform. You can review coverage, features, exclusions, and benefits side by side to identify what fits your needs. Depending on your bike details and personal inputs, you will get customised quotes which simplify your decision-making process.
Bajaj Capital provides claim support assistance by guiding customers on documentation and coordinating with insurers. Claim assessment, approval, and settlement are handled solely by the insurer.
CWith just your bike details, usage information, and location, our smart system can instantly suggest plans that match your requirements. This saves time and helps you quickly find the right bike insurance without going through multiple options manually. However, recommendations are based on customer-provided information.
Bajaj Capital Insurance Broking Ltd. is an IRDAI-licensed Composite Broker (Life & General). We do not underwrite or issue insurance policies.
A bike insurance policy is a financial protection plan for two-wheelers which covers damages, losses, or liabilities arising from accidents, theft, natural events, or third-party injuries. It helps riders manage unexpected expenses and maintain legal compliance on the road. Depending on the plan, it may include third-party coverage, own-damage coverage, or a comprehensive policy that combines both.
India has over 21 crore registered two-wheelers, making bikes the most widely used mode of transport in the country. With such a massive number of vehicles on the road, the chances of accidents and minor damage naturally increase. The urban traffic congestion and rising theft cases further add to the risks faced by bike owners today.
In this scenario, having a bike insurance policy becomes more than a legal requirement. It becomes an essential financial protection.
The right insurance plan helps cover repair costs, third-party liabilities, and unexpected losses. Bike insurance safeguards both the vehicle and the rider.
The premium is the amount you pay the insurer to keep your bike insurance active. Insurers calculate premiums based on factors like bike model, engine capacity, location, age, and selected add-ons. If the risk is high, then the premium will be high as well.
Policy coverage explains what the insurer will pay for after an incident. In bike insurance, it may include third party liability, own-damage protection, theft, fire, natural disasters, and add-ons. It is important to always check the coverage details before selecting a plan.
A third-party liability covers damage, injury, or death caused to another person or their property by your bike. It is mandatory under the Motor Vehicles Act, 1988 and protects you from significant financial and legal consequences if you harm someone accidentally.
Own-damage cover protects your bike from accidental damage, fire, theft, vandalism, and natural calamities. It is included only in comprehensive policies or stand-alone damage plans. This cover reduces repair or replacement expenses after unexpected events.
Deductibles are the part of the claim amount you pay before the insurer contributes. Compulsory deductibles are fixed, while voluntary deductibles are optional and help reduce premiums. Higher deductibles mean lower premiums but more out-of-pocket costs during claims.
Add-ons are optional benefits that enhance your policy, such as zero-depreciation, roadside assistance, engine protection, and consumables cover. They increase coverage and security but also raise the premium slightly. Choosing add-ons depends on your needs and budget.
Note: Statistics sourced from publicly available reports.
You start by selecting a policy type, for instance, third-party or comprehensive. Third-party covers damage or injury caused to others, while comprehensive covers both third-party liability and your own bike’s damage. You can also add optional add-ons for extra protection.
Once you select a policy, you pay the premium, which is the cost of insurance. Insurers calculate it based on factors such as bike model, age, engine size, location, Insured Declared Value (IDV), and chosen add-ons. Paying the premium keeps your coverage active.
Your policy outlines what incidents it covers. Comprehensive insurance protects against theft, fire, natural disasters, accidents, and vandalism. A third-party insurance only covers losses caused to others.
If your bike suffers damage or is stolen, you file a claim with your insurer. You have to provide documents like FIR (if required), repair bills, and a claim form. The insurer then evaluates the claim, inspects the bike if needed, and approves compensation according to the policy. Claims are evaluated and settled by insurers as per policy terms.
Deductibles are the portion of the claim you pay before the insurer contributes. Higher deductibles reduce premiums but increase out-of-pocket costs during a claim. The insurer pays the remaining amount based on the damage assessment and policy terms.
Bike insurance policies are valid for a year. Renewing on time ensures continuous coverage. If you do not make claims, you earn a No Claim Bonus (NCB), which reduces your premium in the next policy period and rewards safe riding.
This type of bike insurance policy is also known as liability-only coverage. It is a mandatory minimum coverage for owners of two-wheelers. These policies provide coverage against all types of third-party liabilities. For instance, this policy provides coverage for third-party damages to third-party property.
These bike insurance covers for damages caused to vehicles you own, and also the third-party liabilities. A comprehensive bike insurance policy covers costs incurred while repairing damaged bikes due to accidents or other types of insured disasters. Furthermore, you also get the option to get more add-ons to your base bike insurance policy.
A standalone bike insurance policy covers your two-wheeler from damages caused by theft and natural calamities such as fire, earthquakes, floods, etc.
According to the Motor Vehicles Act, 1988, it is mandatory to have third-party liability insurance in India. Hence, getting bike insurance can save you from having to face any penalty.
A third-party liability policy covers damage or injury caused to third parties or property, but does not cover damage to your own bike.
You can get a no-claim bonus or discount for every claim-free year during your policy term. This is adjusted against the premium and does not require any additional payments.
Getting insurance coverage for personal accidents is a great benefit of two-wheeler insurance policies. Apart from being mandatory, it ensures that the coverage of damages is covered by the sufficient sum insured of your bike insurance policy.
Coverage for accidents, theft, natural calamity, fire and also third-party liabilities.
Accidents include damage due to accidents, collisions, and injury to the insured
Damage to bikes due to natural calamities such as floods, earthquakes, and storms also calls for coverage.
Damage due to man-made disasters is also covered by these policies.
Vandalism and theft protection ensures financial support when a bike is vandalised or stolen.
Third-party liability covers legal liability towards a third party because of any accidents caused to the insured.
Note: Coverage features may vary from insurer to insurer.
Certain incidents are not covered by a Bike Insurance policy. Here are the key exclusions:
If accidents occur when the insured is driving around on a bike without a valid driver’s license, insurance is not claimable.
Driving under the influence of alcohol or drugs and then causing damage to bikes is not covered in a bike insurance policy.
Electrical failures, wear and tear, and mechanical breakdowns are not covered in these policies.
Using a two-wheeler for commercial use or for purposes not mentioned in the policy also leads to exclusions from getting coverage benefit
If the policy lapses due to non-payment of premiums, and then any subsequent incidents happen with your bike, they will not be covered.
Damage to the bike due to war, nuclear events and other intentional acts is also excluded from policy inclusions.
Note: Excluded coverage features vary across insurers and plan types.
Disclaimer: The above insurers are listed for illustrative purposes only. Bajaj Capital Insurance Broking Limited does not recommend or promote any specific insurer. The information displayed on this website is of the insurers with whom our company has an agreement.
It is important to consider your place of residence when purchasing a bike insurance policy. For instance, urban areas have higher instances of theft. In such a case, you will want to get a comprehensive bike insurance policy to get coverage for this.
The kind and age of your bike will have a big impact on your insurance needs. For instance, newer vehicles are costly and require full insurance coverage. On the other hand, the more affordable bikes require only liability coverage.
Before purchasing a bike insurance policy, it is important to consider what you want out of such a policy. Depending on the usage of your two-wheeler and other liabilities, get a plan that provides enough coverage.
You need to know about the cubic capacity of your bike when getting a two-wheeler insurance. The cubic capacity is a very important factor that determines the amount of payable insurance premium.
The policy type directly impacts premiums. A third-party insurance covers only damage or injury to others and is cheaper. Comprehensive insurance covers your bike’s own damage, fire, theft, and natural disasters, making it costlier. Optional add-ons also increase the premium.
Premiums vary by bike make, model, and engine size (CC). Expensive or high-performance bikes have higher repair costs and a higher risk, which increases the premium. The smaller-engine or budget bikes usually attract lower premiums.
Older bikes generally have lower premiums because their Insured Declared Value (IDV) decreases with time. An IDV reflects the bike’s market value and determines the maximum payout in case of theft or total loss.
Where you ride and park your bike affects the premium. Cities with higher traffic, theft, or accident rates usually have higher premiums. Insurers consider area-specific risk while calculating the cost of coverage.
IDV is the maximum claim amount the insurer will pay for total loss or theft. Higher IDV increases the premium, while lower IDV reduces it. Correct IDV ensures adequate coverage without overpaying.
Add-ons like zero depreciation, roadside assistance, engine protection, and consumables cover improve protection but increase premiums. You can choose add-ons based on your risk tolerance and budget.
NCB is a discount offered for not making claims in a policy year. Each claim-free year increases the discount, lowering your premium at renewal and rewarding safe riding habits.
Premiums vary based on usage. Bikes used for commercial purposes, delivery, or heavy commuting often have higher premiums than personal or leisure bikes due to increased accident risk.
Installing anti-theft devices, GPS trackers, or parking in secure areas can lower premiums. Insurers consider these measures as risk reduction, which may make your policy cheaper.
Frequent past claims indicate a higher risk. Insurers may charge higher premiums for riders with multiple claims in the past few years, while claim-free riders benefit from discounts.
Zero depreciation cover is one of the most popular add-ons. Normally, insurers deduct depreciation on bike parts when calculating claims. With this cover, you receive the full cost of repairs or replacement without any depreciation deduction.
Roadside assistance add-on provides help during breakdowns or accidents. Services may include towing, fuel delivery, flat tyre repair, or minor mechanical assistance. This add-on ensures you are not stranded and can save both time and money.
Engine and gearbox protection cover repairs or replacement of engine parts due to mechanical failure or accidental damage. This add-on is useful for high-end or modified bikes, as engine repairs can be expensive and are not fully covered under standard policies.
Consumables like brake oil, engine oil, and nuts and bolts are not usually covered in regular policies. A consumables cover add-on ensures that these minor but necessary expenses are reimbursed during repair, reducing your overall cost.
Return-to-invoice cover compensates the full invoice value of your bike in case of total loss or theft. This ensures you receive the amount you originally paid for the bike, rather than just the depreciated market value.
Tyre protection covers damage to bike tyres due to accidents or punctures. It is a small but useful add-on, especially for riders who frequently travel long distances or on rough roads.
This add-on covers the cost of replacing lost or stolen bike keys. It is convenient for riders with electronic or remote keys, which can be expensive to replace.
This rider compensates for injuries or death of the rider in an accident. Some policies also cover pillion passengers. It provides financial support for medical bills and other unexpected expenses following an accident.
First, you have to enter your personal credentials such as name, email ID and mobile number. After you enter your mobile number, click on the ‘proceed’ button. An OTP will be sent to your mobile number, which you have to enter.
After a successful verification of your number, you will be directed to a page where you have to submit your vehicle registration number, or you can also proceed without a vehicle registration number. Here, you will have to select details of your vehicle brand > model > variant > RTO > and Invoice Year.
Choose your preferred insurer from the given list of bike insurance providers and then fill out the form with required information such as vehicle owner details, vehicle details and CPA details. Finally, make the policy premium purchase to confirm your application.
Note: Policy is issued by insurers and not Bajaj Capital.
Online comparison eliminates the need to visit several insurance offices or agents. You can view multiple policies on a single platform in minutes. This saves time, reduces hassle, and makes the buying process fast and convenient.
Different insurers offer different premium rates for the same coverage. Comparing online helps you identify the most affordable options without compromising on coverage. You can choose a policy that fits your budget and provides adequate protection for your bike.
Online platforms provide detailed information about what each policy covers and what it excludes. You can compare third-party, comprehensive, and add-on coverage side by side, helping you select the policy that best meets your needs.
Many online comparison tools let you evaluate optional add-ons like zero depreciation, roadside assistance, engine protection, and consumables cover. You can see which add-ons suit your bike and riding style, ensuring customised coverage.
Online platforms often include customer reviews and insurer ratings. These insights help you assess claim settlement ratios, customer service quality, and reliability, allowing you to choose a trusted insurance company.
Comparing online policies also helps with smooth renewal. You can check renewal dates, compare premiums for the next year, and even switch policies if needed. Many platforms provide reminders and online management tools for convenience.
Online comparison gives you full visibility into policy terms, premiums, coverage, and claim processes. You can make an informed choice without pressure from agents and avoid hidden costs or surprises later.
Third-party bike insurance is mandatory by law in most countries. Riding without valid insurance can result in fines, penalties, or legal action. Renewing your policy on time ensures you stay compliant with traffic regulations and avoid unnecessary legal trouble.
Accidents and theft can occur unexpectedly. If your insurance lapses, you will have to bear the full cost of repairs or replacement. Renewing your insurance ensures financial support in case of damage, theft, or third party liability claims, reducing out-of-pocket expenses.
No Claim Bonus (NCB) is a reward offered by insurers for claim-free years. Timely renewal ensures that you continue to earn NCB, which reduces premiums in the next policy period. A renewal lapse may result in losing your accumulated NCB.
Lapsing a policy can increase your future premiums. Insurers may consider a gap in coverage as a higher risk, leading to increased costs at renewal. Continuous coverage helps maintain lower premiums and better terms.
Renewal is an opportunity to review your policy, update Insured Declared Value (IDV), and add optional riders or add-ons. This ensures your coverage matches your current bike value and your changing needs.
Insurance companies often reject claims if the policy expires at the time of an accident. Renewing on time guarantees that your claims are valid and processed without complications.
Disclaimer: Bajaj Capital Insurance Broking Ltd. is an IRDAI-licensed Composite Broker (Life & General), License No. 241, and does not underwrite or issue insurance policies. Policies are issued by respective insurers. Bajaj Capital Insurance Broking Ltd. acts as a facilitator providing comparison of insurance products. The information displayed does not constitute insurance advice, recommendation, or endorsement of any product or insurer. The information displayed on this website is of the insurers with whom our company has an agreement. The prospect’s/visitor’s particulars may be shared with insurers for the purposes of soliciting insurance policies. Your personal information is collected only for the purpose of providing insurance comparison and quotes. We do not sell or misuse customer data.
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