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Bike Insurance

Bike insurance provides you financial protection if your bike is damaged due to an accident or man-made/ natural calamities like theft, flood, fire, earthquake, riots, etc. Motorbike Insurance also helps you protect yourself against third party liabilities arising out of accidental damages to third-party, i.e., person or property or vehicle.

Is Bike Insurance Important?

India has the worst roadways and transportation infrastructure. In fact, even metropolitan cities have terrible road conditions with frequent bouts of potholes, flooding, and repairs throughout the year. Plus, you are more exposed to the perils of the harsh driving environment while riding a bike.

Keeping these facts in mind, you need to have a bike insurance plan. Also, the Government of India has made it mandatory to have a third party bike insurance cover for all bike owners through the Motor Vehicles Act, 1988. There are two types of bike insurance plans which you can choose from, i.e., Third-party Liability Only Cover and Comprehensive Bike Insurance.

As the name suggests, third party bike insurance provides cover only against damages arising out of third party liability (the third party refers to a third person or property involved in an accident with you.

Comprehensive Bike Insurance plan offers cover against damages arising out of third party as well as damage to your own motorbike. If you are confused about the two mentioned above. It is okay. This is where Coverfox comes into the picture.

What is Covered in Motorbike Insurance?

Your motor insurance plan will protect your bike against the following instances!

  • Damages arising if your bike gets involved in an accident or collision
  • Compensation for your bike if it is stolen
  • Accidental fire
  • Natural disasters such as lightning, earthquake, etc
  • Personal accident cover
  • Losses to third party property and person
  • What is Not Covered in Motorbike Insurance?

    Your motor insurance policy will not protect your bike against the following instances!

  • Own damage, if your motorbike insurance plan is a third party liability cover only policy.
  • Driving under the influence of alcohol, drugs, narcotics, etc
  • Driving without a valid license
  • Intentional negligence - rash driving, breaking traffic rule, going opposite on a one way.
  • Commercial use of a private vehicle
  • Act of War - Biological, Chemical, and Nuclear
  • Top Bike Insurance Plans for 2020 in India

    Here is a list of the best online bike insurance plans offered by the top motor insurers in India with the incurred claim ratio for 2018-19%.

    The incurred claim ratio has been sourced for the annual report 2018-19 published by IRDAI.

    Top Insurance Provider Policy Term Incurred Claim Ratio for 2018-19
    Universal Sompo Bike Insurance 1 Year 76%
    United India Bike Insurance 1 Year 120.79%
    TATA AIG Bike Insurance 1 Year 70%
    Shriram Bike Insurance 1 Year 69%
    SBI Bike Insurance 1 Year 87%
    Reliance Bike Insurance 1 Year 85%
    Oriental Bike Insurance 1 Year 112.60%
    NAVI Bike Insurance (DHFL has been acquired by NAVI Technologies Pvt Ltd) 1 Year 29%
    New India Assurance Bike Insurance 1 Year 87.54%
    National Bike Insurance 1 Year 127.50%
    Liberty Bike Insurance 1 Year 70%
    Kotak Mahindra Bike Insurance 1 Year 74%
    IFFCO Tokio Bike Insurance 1 Year 87%
    HDFC ERGO Bike Insurance 1 Year 82%
    Bajaj Allianz Bike Insurance 1 Year 62%
    Bharti AXA Bike Insurance 1 Year 75%
    Digit Two Wheeler Insurance 1 Year 76%

    Why Get Bike Insurance Online from Coverfox?

    With Coverfox, you can get your favorite new bike insurance online in just 5 mins! Plus, here are five reasons to get bike insurance online:

    • Online Comparison - With Coverfox, you can check top quotes offered by the best bike insurance companies across India, all on a single webpage. All you need to do is enter the requested details of your motorbike and let our super-smart algorithm do the job of helping you find the best bike insurance plan.
    • Complete Customization - You can customize your bike insurance plan with respect to the insured declared value, rider add-ons, premium payment options, cashless garages, type of cover, etc.
    • Online Buying Process - The entire process of buying a bike insurance policy is done online. No paperwork is needed, and you will never have to visit an insurance agent or go to any insurance company branch in person.
    • Expert Advice - At Coverfox, we believe in making bike insurance as simple as possible for every individual. Therefore, we have a dedicated team of IRDAI certified advisors and a 24x7 customer service team that is always ready to help you in the entire journey of buying a bike plan to full and final claim settlement assistance and beyond.
    • Rider Options/Add on Cover - At Coverfox, you can select a wide range of rider options online. You can simply add them to your comprehensive bike insurance policy at a small additional premium. If you are thinking about the premium amount, don’t worry. We have specifically designed a premium calculator just to help you go ahead with ease.

    In short, you can easily buy, renew, and compare online bike insurance policy on Coverfox at the click of a button. So what are you waiting for? Give us a call today on 1800 209 9930.

    How to Get Bike Insurance From Coverfox?

    If you are looking for bike insurance cover, you have come to the right place. Please follow these steps to get bike insurance offers from Coverfox.

    • Visit the official website of Coverfox
    • Select the bike insurance tab from the top menu
    • Enter the requested bike details and registration number
    • Select the registered Regional Transportation Organisation
    • Check if your previous policy has expired or not
    • Click on submit
    • The search tab will show you a list of top bike insurance quotes and plans and a buy option.

    Well, it takes close to 5 minutes to get your favorite policy straight into your inbox. Plus, you can quickly pay online with a credit, debit, net banking. Our website has a direct secure payment gateway option with all the major insurance providers in India.

    Did we mention that you can avail of a discount of up to 80% on the bike insurance premium amount? Buy bike insurance online today, only on Coverfox.

    What is a Personal Accident Cover in Bike Insurance?

    As the name suggests, personal accident cover provides cover against:

    • Damages arising due to accidental death or injury

    • It can be availed only as a rider option.

    • Covers people up to the age of 65 years

    • The maximum compensation can go up to Rs. 15 lakhs.

    • It comes with accidental death benefit and disability compensation.

    • Provides 100% of the sum insured in case of accidental death

    • The benefit is paid to the family of the policyholder in case of death.

    How much Cover is offered under a Personal Accident Cover?

    Amount Covered Accidental Event
    100% of the Sum Insured Death
    100% of the Sum Insured Dismemberment of both limbs or loss of sight of both eyes or one limb and one eye
    50% of the Sum Insured Dismemberment of one limb or loss of sight of one eye
    100% of the Sum Insured Permanent and Total Disability

    What are the Different Add-ons for Bike Insurance?

    Here is a list of rider options that you can add to your new bike insurance policy to make it better.

    Return to Invoice Cover
    This cover reimburses the actual bill value of your motorbike in case of total loss or theft.
    Expert Advice
    Zero Depreciation
    This cover takes care of the depreciation that affects your motorbike as it ages. Many insurers deduct the depreciation amount. With this cover, you won’t face any problem.
    Post Sales Assistance
    Roadside Assistance
    As the name suggests, roadside assistance offers immediate support and services to you if your motorbike undergoes a mechanical failure in the middle of the road. This is ideal if you are keen on taking road trips across the country.
    Road Side Assistance
    Accessories Cover
    Bike insurance plans do not cover general accessories such as electrical parts, wires, batteries, etc. This cover will take care of integral parts and components.
    Expert Advice
    Engine Cover
    Your engine is one of the most critical parts of your motorbike, but sadly it is not covered by a standard comprehensive bike plan. This cover will protect your engine against all sorts of damages, especially floods.
    Post Sales Assistance
    Daily Cash Allowance
    This is ideal if you use your motorbike for everyday travel, especially for going to office or regular travel. This cover provides an allowance to meet your travel expenses in case your bike has gone for repairs.
    Road Side Assistance