Bike Insurance
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What is Bike Insurance?
Bike insurance (two-wheeler insurance) covers 2 main risks: third-party liability (injury/property damage caused to others) and own-damage (accident, fire, flood, theft, vandalism, etc.). At minimum, in India third-party cover is mandatory by law to drive on public roads; going without it is an offence under the Motor Vehicles Act.
Types
Types Of Bike
Insurance Policies
Comprehensive (Package) Policy
- •This policy combines both Third-Party and Own-Damage (OD) coverage.
- •It protects your bike against risks including accidents, fire, theft, and floods.
- •A Comprehensive policy offers the most complete financial protection for you and your vehicle (Bike or any two-wheeler).
- •You can choose to add useful riders such as Zero-Depreciation or Engine Protect.
Third Party Policy
- •This is the minimum cover that is legally mandatory to own.
- •It financially covers injury, death, or property damage that you cause to others.
- •The policy does not provide any coverage for damage or repair costs to your own bike.
- •It is required to ensure legal compliance while riding on public roads.
Standalone Own Damage (OD) Policy
- •This insurance covers the cost of repair or replacement for damage to your own bike.
- •It applies to losses from accidents, fire, theft, floods, and other disasters.
- •The policy specifically excludes all required Third-Party liability coverage.
- •It must be purchased alongside a separate, valid TP policy to meet legal requirements.
Important - Special Rule for New Bikes:
- •New two-wheelers must include a mandatory five years of Third-Party (TP) cover.
- •This requirement follows a directive from the Supreme Court and IRDAI.
- •The Own-Damage (OD) portion of the policy is usually valid for one year only.
- •Always check your insurance quote for the exact 5-year TP + 1-year OD breakdown.
Coverages
Coverages In Different
Insurance Policies
| Factors | TP | OD | Comprehensive | Zero-Dep |
|---|---|---|---|---|
| Legally Mandatory |  |  | | |
| Covers Third Party Life / Disability | | | | |
| Covers Third Party Property Damage | | | | |
| Covers Own Bike Damage (accident, collision, natural disasters, fire, theft, etc.) | | | | |
| Covers Theft or Insured Bike | | | | |
| Personal Accident Cover for Owner-Rider | | | | |
| Depreciation Deduction Applied on Claims | N/A | | | |
| Add-ons Allowed? | | | | |
| Premium Cost | Lowest | Medium | Higher | Highest |
| Factors | TP | OD | Comp | Zero-Dep |
|---|---|---|---|---|
| Legally Mandatory | | | | |
| Covers Third Party Life / Disability | | | | |
| Covers Third Party Property Damage | | | | |
| Covers Own Bike Damage (accident, collision, natural disasters, fire, theft, etc.) | | | | |
| Covers Theft or Insured Bike | | | | |
| Personal Accident Cover for Owner-Rider | | | | |
| Depreciation Deduction Applied on Claims | N/A | | | |
| Add-ons Allowed? | | | | |
| Premium Cost | Lowest | Medium | Higher | Highest |
Calculate Your Bike Insurance Premium Online
Enter your bike number to fetch details → compare IDV, add-ons, and discounts (like NCB). Your premium mainly depends on IDV, cubic capacity (cc), age/location, past claims/NCB, and chosen add-ons.
Factors Affecting YourTwo Wheeler Policy Premium
IDV (Insured Declared Value)
The IDV is the insurer’s current market value of your bike, which determines the Own-Damage (OD) premium and the maximum payout for total loss claims.
Engine CC
Policies for bikes with a higher engine cubic capacity (cc) typically have a higher Third-Party (TP) premium, as determined by regulatory rate slabs, and often a higher OD premium.
Age & Location
The age of the bike affects premium due to depreciation, while the geographical location influences pricing based on city-specific risks like traffic, theft, and floods.
NCB (No-Claim Bonus)
NCB is a discount, ranging from 20% to 50%, applied to your OD premium at renewal for every claim-free year; this benefit belongs to the policyholder, not the vehicle.
Bike's Insured Declared Value (IDV)
IDV is essentially the bike's current replacement value (manufacturer listed value minus depreciation by age brackets). It guides both the OD premium and the payout in total loss/constructive total loss. Beyond 5 years or for rare/obsolete models, it's often agreed IDV between you and the insurer.
Key Benefits Of Buying/RenewTwo Wheeler Insurance
You stay legally compliant, protect your bike and wallet from common risks, and save time and money by comparing plans and renewing in minutes online.
Legal compliance
Third-Party (TP) cover is mandatory to ride on public roads.
Financial protection
Comprehensive plans cover your own bike for accident, fire, flood, theft, and vandalism.
Lower out-of-pocket costs
Pick add-ons like Zero-Dep, Engine Protect, RSA, NCB Protect, and Consumables to reduce depreciation hits, engine-damage costs, towing hassles, and NCB loss.
NCB savings
Claim-free years earn No-Claim Bonus (NCB) on OD premium, portable on renewal.
How to Buy/Renew Bike InsuranceOnline/Offline In Three Steps
Enter your bike number, choose TP or Comprehensive with relevant add-ons, pay securely, and receive the e-policy. If your policy has lapsed, an inspection may be required before activation.
Step 01
Fetch & Compare Quotes
- •Enter your bike’s registration number to fetch details and quotes.
- •Compare IDV, premium, cashless garages, and the cost of add-ons from different insurers.
Step 02
Select Appropriate Coverage
- •Choose Third-Party (mandatory) or Comprehensive (TP + Own Damage).
- •Add Zero-Depreciation (for low out-of-pocket costs), Engine Protect (for flood/water damage), RSA (for roadside breakdowns), or NCB Protect (to save your discount).
Step 03
Complete Payment & Start Coverage
- •Make a secure payment to instantly receive your e-policy.
- •If lapsed, be prepared for a quick inspection (photo/video or physical) of your bike before the new cover is issued.
Documents Required For Bike/Two-Wheeler Insurance Claim
Accident, flood, fire, vandalism
Own-Damage
- •Policy or e-Policy copy
- •Registration Certificate (RC) and Driving Licence (DL)
- •Completed Claim Form
- •Photos or Videos of Damage
- •Insurer-specific forms (For cashless Authorization)
Minor Damage
Glass-Only Damage
- •Policy, RC, and Licence
- •Completed Claim Form
- •Photos of damage
- •Invoice or Repair Estimate
Constructive total loss
Total Loss
- •All documents required for Own-Damage (A)
- •Surveyor’s total-loss assessment report
- •RTO paperwork for RC transfer/cancellation
- •Salvage/ownership formalities (insurer guided)
- •Digital copies of Policy, RC, Licence, FIR, and Invoices
Total theft or parts theft
Theft
- •Policy / e-Policy copy and Claim forms
- •Registration Certificate (RC)
- •Original Driving Licence (DL)
- •Police Non-traceable Report
- •All original keys (all sets)
- •RTO subrogation papers and RC transfer formalities
Injury/property damage
Third-party
- •Policy, Driver’s licence, RC,
- •Completed Claim Form
- •FIR / police intimation
- •Third-party details and evidence (photos, witness contacts)
- •Court/MACT documents if applicable
Why Choose MyMotor For Your Two Wheeler Policy?
- 1
Enter vehicle number and see instant quotes from 20+ bike insurance companies.
- 2
Renew bike insurance policy online in minutes, even after a lapse (may need inspection, per IRDAI guidance).
- 3
Smart add-on recommendations (Zero-Dep, NCB Protect, Engine Protect) based on your bike’s age/usage.
- 4
24/7 claim support and cashless guidance at nationwide network garages.
- 5
Transparent comparison for comprehensive bike insurance, third party insurance, and new bike insurance options.
Everything Your Vehicle Needs
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