Two-wheelers form the backbone of India’s transport system, with over 260 million registered bikes and scooters nationwide (as per the Ministry of Road Transport & Highways, 2024). With such a high vehicle density, risks of accidents, theft, and natural damage are common.
Bike insurance offers financial protection against these risks and fulfills a legal requirement under the Motor Vehicles Act, 1988. It helps riders avoid out-of-pocket repair costs while staying compliant with Indian law.
Understanding Bike Insurance in India
The Indian bike insurance market grew significantly after the establishment of the Insurance Regulatory and Development Authority of India (IRDAI) in 1999. Since then, reforms such as the Supreme Court’s 2018 ruling on five-year third-party cover and IRDAI’s 2019 circular on unbundled personal accident cover have shaped current policies. (Sources: IRDAI.gov.in, Supreme Court Order 2018).
In India, every bike owner must have at least third-party insurance, which covers damages or injuries caused to another person or their property, and without it, riders risk fines and penalties during routine traffic checks. However, relying only on third-party coverage may not be enough given India’s conditions.
A comprehensive policy goes further by protecting your own bike against accidents, theft, fire, and weather-related damage, such as repairs after being stranded in waterlogged streets. In a country where two-wheelers are often the lifeline of daily commuting, having both third-party and own-damage protection ensures financial security, peace of mind, and full compliance with the law.
Types of Bike Insurance in India
Bike insurance policies in India are regulated by IRDAI to protect both policyholders and third parties. The three main policy types are:
1. Third-Party Bike Insurance
Third party two wheeler insurance is the minimum insurance required by law under the Motor Vehicles Act, 1988. It covers legal and financial liabilities if your bike causes injury, death, or property damage to someone else. While it ensures compliance with Indian regulations and protects you from third-party claims, it does not cover any damage to your own bike, making it suitable only for riders looking for basic legal protection.
2. Own-Damage Bike Insurance
Own Damage Bike Insurance policy protects your bike against damage caused by accidents, fire, theft, or natural disasters such as floods, storms, or earthquakes. It cannot be purchased alone; it must be combined with a third-party policy to remain legally valid. This coverage is ideal for riders who want to safeguard their bike’s value in addition to meeting legal requirements.
3. Comprehensive Bike Insurance
This policy combines third-party liability and own-damage coverage into a single plan, offering complete protection for Indian riders. It covers accidents, theft, fire, and natural calamities, ensuring that both your bike and your legal liabilities are protected. Comprehensive bike insurance is considered the most reliable and practical option in India, providing maximum financial security and peace of mind while riding. Comprehensive insurance combines third-party liability and own-damage protection under one policy. It covers theft, accidents, fire, and natural calamities like floods or cyclones.
Coverage and Premiums of Bike Insurance in India
Your bike insurance coverage and premium depend on the policy type, vehicle age, engine capacity, and location.Third-party coverage handles liabilities toward others, while own-damage coverage protects your own vehicle from accidents, fire, theft, or disasters. As per IRDAI’s 2024–25 circular, third-party premiums are fixed annually based on engine size:
| Engine Capacity | Annual Third-Party Premium (₹) |
|---|---|
| Up to 75cc | 482 |
| 76cc – 150cc | 783 |
| 151cc – 350cc | 1,218 |
| Above 350cc | 1,884 |
Disclaimer: The premium rates and coverage details are based on IRDAI’s 2024–25 guidelines. Actual prices may vary by insurer and region.
Own-damage and comprehensive plans are calculated on your bike’s Insured Declared Value (IDV)—its market value minus depreciation. Typically, premiums range between 1.5% and 3% of the IDV, depending on the bike’s age and city.
Buying and Renewing Bike Insurance in India
Buying or renewing bike insurance in India has become easier with multiple channels, including insurance agents, brokers, direct company offices, and online platforms. Here’s a step-by-step guide for Indian bike owners:
1. Visit the Coverfox Website
Go to Coverfox.com, a leading platform for bike insurance aggregators in India, to start your policy purchase.
2. Enter Your Bike Details
Type in your bike’s registration number in the given field. If you are buying a new bike in India, click “Bought a new bike?” to proceed.
3. Provide RTO Details
Fill in your bike’s RTO registration details relevant to your city in India, including the registration number.
4. Get Instant Quotes
Click on “Get Quotes” to view a list of bike insurance policies in India from top insurers.
5. Compare & Choose a Plan
Review the available options and select a bike insurance plan in India that fits your needs and budget.
6. Pay Securely Online
Complete your policy purchase through Coverfox’s secure online payment gateway.
7. Receive Your Policy Instantly
After successful payment, your bike insurance policy in India will be emailed to your registered email address.
How to Claim the Bike Insurance in India
Claiming bike insurance in India involves a systematic process to ensure that you receive financial compensation for damages, theft, or accidents. The process may vary slightly depending on the insurer, but the core steps remain similar:
1. Inform the Insurer
Immediately report the accident, theft, or damage through the insurer’s helpline or online portal.
2. File an FIR (if needed)
For theft, major accidents, or third-party injuries, lodge an FIR with the police. Minor cases usually don’t require one.
3. Submit Documents
Provide photos of the damage, your policy details, registration certificate, driving licence, and the insurer’s claim form.
4. Survey & Settlement
The insurer may send a surveyor to inspect your bike. Once verified, the claim is approved and payment is released, often directly to authorised garages.
Conclusion
Bike insurance is more than a legal formality — it’s essential financial protection. With India’s growing number of two-wheelers, a comprehensive plan ensures peace of mind against accidents, theft, and natural damage. Compare multiple insurers, review add-ons like zero depreciation or roadside assistance, and always renew on time to enjoy uninterrupted coverage.
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Frequently Asked Questions
How does two-wheeler insurance work in India?
Two-wheeler insurance provides financial protection against damages, theft, and third-party liabilities. Depending on the plan—third-party, own-damage, or comprehensive—it helps riders stay legally compliant and avoid repair expenses.
Is bike insurance mandatory in India?
Yes. Under the Motor Vehicles Act, 1988, all bike owners must have at least third-party insurance to legally ride on Indian roads.
What factors affect my bike insurance premium?
Engine capacity, bike age, city of registration, claim history, and type of coverage influence your premium.
What types of bike insurance are available in India?
Third-party, own-damage, and comprehensive insurance are the main types of bike insurance available in India.
Can I add extra protection to my policy?
Yes. Popular add-ons include zero depreciation cover, roadside assistance, and engine protection.
How to claim bike insurance in India?
Report the incident to your insurer, submit the required documents, and the claim will be processed after verification.
