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FAQs About Bike Insurance

• What is IDV in bike insurance, and why does it matter?

  IDV (Insured Declared Value) is the insured value of your bike and represents the maximum amount payable for theft or total loss, subject to the policy terms. It also affects your own-damage premium and, therefore, your bike insurance price. A higher IDV generally means a higher premium.

• What happens to my NCB if I make a bike insurance claim?

  Your NCB is generally lost in the following policy period if you make a claim. An NCB protection add-on, if included in your policy, can protect the applicable NCB benefit after an eligible claim.

• Can I transfer my NCB to a new bike?

  Yes, NCB belongs to the policyholder, not the bike, so you can transfer your accumulated NCB when taking new 2 wheeler insurance. The insurer may require proof of your NCB entitlement.

• Can I transfer my bike insurance policy if I sell the bike?

  Yes, you can transfer the policy to the buyer after selling the bike. The insurer must be informed and the required transfer formalities completed. For comprehensive or package policies, the transfer should be recorded within 14 days of the ownership transfer.

• Can I change the details in my bike insurance policy after purchase?

  Yes, you can request changes to eligible bike insurance details after purchase by contacting your insurer. You may need to submit supporting documents, and the insurer will issue an endorsement if the change is permitted.

• What happens if my bike insurance policy expires?

  Once your policy expires, you no longer have active insurance cover. Complete your 2 wheeler policy renewal before expiry to maintain continuous cover. If the policy has already lapsed, the bike insurance renewal amount may differ based on the applicable cover and policy requirements.

• Do I need a vehicle inspection if my bike insurance has expired?

  Yes, a vehicle inspection is generally required when the policy has lapsed before own-damage cover is renewed. This applies when completing two-wheeler insurance renewal after a policy lapse. The inspection allows the insurer to assess the bike before issuing the renewed cover.

• Can I change my bike insurance company at renewal?

  Yes, you can switch insurers when your policy is due for renewal. You can compare online bike insurance plans and review the two wheeler insurance rate, coverage and add-ons before choosing a new insurer. Your NCB can also be carried forward, subject to proof of entitlement.

• Can I upgrade from third-party insurance to comprehensive bike insurance?

  Yes, you can buy comprehensive cover when renewing or taking a new policy. Two wheeler vehicle insurance under a comprehensive policy covers third-party liability as well as eligible own-damage losses. You can also buy two wheeler vehicle insurance online with comprehensive cover when taking a new policy.

• Can I make more than one bike insurance claim in a policy year?

  Yes, you can make multiple claims during the policy period if each claim is covered under the policy terms. However, multiple claims can affect your NCB and may involve deductibles or other applicable costs.

• What should I do if my insured bike is stolen?

  Report the theft to the police and inform your insurer immediately. Submit the FIR and other documents requested by the insurer to process the theft claim. If the stolen vehicle is a motorcycle, the claim amount is generally based on its IDV, subject to the policy terms.

• Is insurance required for a newly purchased bike?

  Yes, valid third-party insurance is mandatory before a new bike can be used on public roads. You can choose third-party cover or comprehensive cover depending on the protection required. New two wheeler insurance online allows you to purchase a policy digitally, while the premium depends on factors such as the type of cover and bike value.

• Can I cancel my bike insurance policy before it expires?

  Yes, you can request cancellation of your two wheeler policy, subject to the insurer's cancellation terms. Any applicable refund depends on factors such as the policy period, claims made and the specific policy conditions.