Imagine you are riding your bike on a busy street and suddenly collide with another vehicle, causing injury to a pedestrian and damaging your own bike in the process. Here is where a Comprehensive Bike Insurance Policy steps in to ensure your financial safety. This policy combines a Third-party Liability Cover (TP) and Own Damage Cover for Bike (OD) to protect you from both your bike's damage and legal liability for injuries or damages to third parties.
Comprehensive two-wheeler insurance is a complete package that provides coverage for the insured's two-wheeler's loss and damage and various third-party liabilities. This all-inclusive plan offers policyholders the flexibility to customise and enhance their coverage with a range of add-ons. However, you must carefully pick the add-on covers and pay only for the ones that you really need.
A comprehensive bike insurance plan gives you the option of a single or multi-year policy tenure. With a multi-year policy, you do not have to go for yearly renewal, and the lump sum premium may also fetch you a long-term policy discount. In case you are purchasing a new/luxury bike or planning a long road trip on your bike, a comprehensive plan can be quite ideal for you.
A Comprehensive Bike Insurance Policy offers the following unique benefits:
| Feature | Details |
|---|---|
| Own Damage Protection | Repairs or replacement for damage to your bike. |
| Third-Party Liability Cover | Covers injuries, death, or property damage caused to third parties. |
| Theft Protection | Coverage against bike theft. |
| Natural Disaster Coverage | Protection against damage from floods, earthquakes, cyclones, and similar events. |
| Man-made Disaster Protection | Covers damages due to riots, vandalism, terrorist acts, and other man-made incidents. |
| Personal Accident Cover | Mandatory add-on that covers rider injury or death. |
| Flexible Add-on Options | Add-ons such as zero depreciation, engine protection, roadside assistance, and more. |
| No Claim Bonus (NCB) Discount | Renewal premium discount of up to 50% on Own Damage for claim-free years. |
| Reduced Repair Expenses | Insurance covers most repair costs, leaving only deductibles to be paid by the insured. |
| Applicable to All Two-Wheelers | Suitable for motorcycles, scooters, and electric bikes, providing comprehensive protection across vehicle types. |
Disclaimer: The inclusions and exclusions outlined above represent general coverage under comprehensive bike insurance. For precise details, please refer to the specific policy wording provided by your bike insurance company.
Here are all the reasons why you should consider opting for a comprehensive bike insurance policy:
Owning a comprehensive bike insurance policy assures you of complete all-around financial protection, be it for damages to your own bike, third-party liabilities, or any total loss arising due to theft, fire, or an accident.
During an accident with the insured bike, this policy helps cover damages against third-party claims, such as injuries suffered by a third party or damage to their vehicle. It also covers financial liabilities arising due to the death or permanent disability of a third party.
Under a single premium payment, this policy offers multiple benefits of both an Own Damage (OD) cover and a Third Party (TP) cover.
With the help of a comprehensive bike policy, you are eligible to receive the No Claim Bonus (NCB) benefit during renewal, which involves a discount on premiums for no claims raised during the policy period.
A comprehensive bike insurance policy allows you to enhance its value by customising it with a variety of add-ons, including options such as roadside assistance, zero depreciation, consumables coverage, etc.
Comprehensive bike insurance is the ideal choice for new bike owners, city riders, inexperienced drivers, high-value bike owners, and long-distance riders needing complete coverage.
Check out the general policy inclusions and exclusions for Comprehensive Bike Insurance:
| Covered in Comprehensive Bike Insurance | Not Covered in Comprehensive Bike Insurance |
|---|---|
| Third-party liabilities for injury, death, or property damage. | Any loss or damage occurring due to technical or electrical breakdowns of the bike. |
| Accidental damage to the insured bike. | Loss due to illegal riding (Racing, riding under the influence of alcohol or drugs, riding without a licence). |
| Fire-related damages caused by explosion, lightning, or self-ignition. | Claims made during an inactive or invalid policy period. |
| Damage from natural disasters such as earthquakes, floods, landslides, etc. | Any damages or losses occurring outside the geographical limits of the policy. |
| Damage from man-made disasters due to riots, strikes, vandalism, etc. | The losses or damages occurring due to the regular wear and tear of the bike over time. |
| Compensation in case of theft or total loss, where payout is based on the bike’s IDV. | Consequential losses (indirect or resulting damages). |
Disclaimer: The inclusions and exclusions outlined above represent general coverage under comprehensive bike insurance. For precise details, please refer to the specific policy wording provided by your insurance company.
To enhance coverage for your policy, here is a numbered list of optional riders to consider:
is a mandatory add-on that provides the insured bike owner and their nominee with compensation in case of injury, disability or death due to an accident. It involves a coverage limit of up to ₹15 lakh.
Zero Depreciation Cover ensures that the insurer will not deduct the depreciation costs while settling claims, enabling you to get the maximum claim amount. This add-on is included in own damage and comprehensive policies.
In case of an emergency, such as your bike suddenly breaking down, running out of fuel or suffering a puncture, 24×7 Roadside Assistance add-on ensures 24/7 roadside assistance. This could include services like towing, fuel replacement, battery services, etc.
Consumables Cover add-on covers the cost of repair or replacement for various consumables after an accident. This covers consumables like engine oil, coolant, gearbox oil, nuts, bolts, screws, and bearings, among others.
In case of theft or damage beyond repair to your bike, Return-to-Invoice Cover add-on allows you to get the invoice value, which is the IDV (Insured Declared Value) of your bike, as a claim amount.
With NCB Protection Cover add-on, you can raise numerous claims during the policy period and not risk losing out on the accrued NCB benefit during the renewal. Depending on the insurer, you may be able to file up to two claims a year, so check the limits for this add-on before buying it.
The costs for repairing or replacing an engine or its components on account of damage caused due to lubricant oil leakage, water ingression, etc., are covered by Engine Protection Cover add-on.
The expenses incurred for repairing or replacing a damaged tyre or wheel rim are covered by Tyre Protection Cover add-on, thereby helping reduce out-of-pocket expenses due to costly repairs.
Also called a Passenger Cover, this add-on helps safeguard the individual who sits behind the rider in case of any injuries or fatalities due to an accident. This includes coverage for accidental death and partial or permanent disability of the pillion rider.
Check out the comparative table given below to get a better idea of the difference between third party bike insurance, Own damage bike insurance and Comprehensive Bike Insurance Policies:
| Parameter | Comprehensive Bike Insurance | Own Damage (OD) Bike Insurance | Third-Party Bike Insurance |
|---|---|---|---|
| Coverage | Own bike damage, theft, fire, natural/man-made calamities, plus third-party liabilities | Own bike damage, theft, fire, natural/man-made calamities | Only third-party liabilities (injury, death, property damage) |
| Legal Requirement | Optional but highly recommended | Optional; usually combined with third-party insurance | Mandatory as per the Motor Vehicles Act |
| Premium Cost | Highest due to extensive coverage and add-ons | Moderate, lower than comprehensive, excludes third-party coverage | Lowest, with a fixed rate based on bike engine capacity |
| Add-ons Availability | A wide variety of add-ons are available, like zero depreciation, roadside assistance, engine protection, etc | Only certain add-ons are available | No add-ons available |
| Claim Scope | Covers own damage and third-party claims | Covers only own damage claims | Covers only third-party claims |
| Discount Eligibility | Eligible for No Claim Bonus (NCB) and other discounts | Eligible for No Claim Bonus (NCB) | No discounts available |
| Ideal For | Those seeking full, comprehensive protection | Owners wanting own damage protection without third-party cover | Those needing minimal, mandatory third-party liability cover |
Disclaimer: The inclusions and exclusions outlined above represent general coverage under the respective bike insurance policy. For precise details, please refer to the specific policy wording provided by your insurance company.
Here’s why you should consider Coverfox as your trusted platform to buy Comprehensive Bike Insurance online:
View insurance plans from 40+ renowned insurance providers and compare their benefits easily and instantly, all in one place.
Without compromising on coverage, get access to cost-effective plans that sit well within your budget.
With a few simple clicks, easily buy and renew policies in minutes online - without the hassle of paperwork.
Our dedicated support team ensures you receive end-to-end claim support through the entire process, right from filing the claims to the ultimate claim settlement.
During renewals, the insurer awards a discount on comprehensive two-wheeler insurance premiums to those who do not raise any claims during the policy period, known as the No-Claim Bonus, or NCB. To get this discount, you must take care of your bike by riding it safely, avoiding damage, and servicing it regularly.
The NCB percentage for bike insurance is decided based on the number of claim-free years. These discount limits are set by the Insurance Regulatory and Development Authority of India (IRDAI). Insurers can give increasing discounts for each consecutive year without a claim, and this discount grows every year up to five years, after which it stays fixed.
Take a look at the table below to understand the NCB discount for claim-free years and the impact it will have on your premiums:
| Claim-Free Years | NCB Discount (%) |
|---|---|
| After 1st year | 20% |
| After 2nd year | 25% |
| After 3rd year | 35% |
| After 4th year | 45% |
| After 5th year | 50% |
Follow these simple steps to buy or renew Comprehensive Bike Insurance online instantly with Coverfox:
Select ‘Bike Insurance’ under the Insurance tab.
Provide details such as the bike registration number and required information.
Choose a Comprehensive Bike Insurance plan.
Make sure to compare and review the premiums and benefits across different insurers.
Pick add-ons like zero depreciation, roadside assistance, etc., to enhance policy coverage if needed.
Enter the necessary information, such as owner, vehicle, and nominee details.
Purchase the policy securely with Coverfox’s secure payment portal.
Get the policy instantly within minutes in your email.
To ensure a hassle-free claim settlement process, here's what you need to do:
Notify your insurance company through the helpline or email about the incident.
Download, fill, and submit the claim form online.
Provide the necessary documents, such as the Registration Certificate (RC), Driving Licence (DL), policy copy, FIR (if required), and repair bills.
The claim can be settled in two ways:
Take your bike to a network garage, and the insurer pays the repair cost directly to the garage.
Pay the repair cost yourself and get reimbursed later by the insurer.
Be sure to clear any deductibles or non-covered expenses as outlined in the policy terms.
To understand and calculate the comprehensive bike insurance premium, here is a list of factors that can affect this premium:
After considering depreciation, IDV is the approximate market value of your bike. This value represents the maximum sum payable by the insurance provider in case of total loss or theft of the bike. The higher the IDV of your bike, the higher the premiums will be.
Comprehensive bike insurance premiums are also determined by the age of your bike. The older models will have lower premiums compared to newer models, since the depreciation factor applies to older bikes.
The premiums for high-end bike models will be higher compared to mid-budget or low-cost two-wheeler models. This is because expensive models will have higher repair, part-replacement, and maintenance costs.
When you do not raise any claims during the policy period, NCB is the discount received by the insurance provider on premiums during renewal. That is why, if you have accumulated an NCB, it can help lower the premium.
Depending on the location where your bike is registered, the premiums can vary. For example, premiums will be higher in metropolitan or high-traffic areas where the risk of accidents is higher compared to a remote village or town.
Based on the selection of add-on covers, it can impact the overall premiums of the policy. Each add-on provides its own set of benefits and generates an additional cost, which is why you should assess your needs and be mindful while selecting these add-ons.
Here are certain tips to help lower your comprehensive bike insurance premiums:
To receive a discount on renewal premiums, the No-Claim Bonus (NCB) is a powerful tool. It is essential to ride safely and maintain a clean claim history to avail this benefit. In case you switch insurers, ensure your NCB is transferred to the other comprehensive bike policy so you don't lose the accumulated benefit.
Installing anti-theft devices in your bike that are approved by the Automotive Research Association of India (ARAI) helps lower the premiums, as it keeps threats like theft and vandalism at bay, which also reduces the risk of insurance claims. Vehicles with anti-theft devices installed are more likely to get discounts on comprehensive bike insurance premiums.
It is essential to renew the comprehensive bike policy on a timely basis before the date of expiry. This keeps essential benefits like NCB safe and avoids unnecessary hikes in premiums.
Each add-on has its own significance, but could increase the overall premium. That is why it is essential to be mindful and select only the essential add-ons necessary for your bike, to balance protection and avoid overpaying at the same time.
Instead of opting for a single-year policy and paying a premium for one year, you can choose a multi-year comprehensive bike insurance policy that provides coverage for multiple years and receive coverage for up to 5 years at a time, with the added benefit of discounts.
The repairs needed for certain damage to your bike may be minor and affordable. You should not raise claims in your comprehensive bike policy for such minor repairs so that your NCB benefit does not reset, and you are assured of more savings in the long run.
No, comprehensive bike insurance is not mandatory by law in India. However, it is widely recommended, as it covers both damages to your bike and third-party liabilities, delivering complete protection.
In terms of premiums, third-party bike insurance may be more affordable since it covers only third-party liabilities, while comprehensive bike insurance covers your own bike’s damages, theft, fire, natural and man-made disasters, plus third-party liabilities.
In general, the validity of a comprehensive bike insurance policy may be one year. However, there are multi-year policies available that offer coverage for multiple years along with discounts. New bikes can choose long-term plans for up to 3 or 5 years.
While settling a claim, the portion of repair or claim costs that the policyholder agrees to pay out-of-pocket before the insurer covers the remaining amount is known as the deductible in a comprehensive two-wheeler insurance policy.
Comprehensive bike insurance covers damages, including depreciation on parts during claims, whereas zero depreciation cover is an add-on that ensures full claim settlement without deducting depreciation and maximises the claim amount.
While purchasing a new bike, it is recommended to avail a comprehensive bike insurance policy to ensure complete protection against all kinds of risks.
No, as per IRDAI, only third-party insurance is mandatory for five years. However, you can opt for a multi-year comprehensive bike insurance policy for up to 5 years.
Yes, any modifications to your bike can impact the premiums of a comprehensive bike insurance policy. That is why it is important to disclose these modifications to the insurer in advance.
Comprehensive bike insurance is a type of policy that covers damages to both your own bike and third-party liabilities. It assures extensive coverage against accidents, theft, fire, natural and man-made disasters, and liabilities due to injury or death.
It is not covered in the base policy. To assure added protection for your engine against water ingression or oil leakage, it is recommended to opt for an add-on like an engine protection cover.
Yes, you can. In case of total loss due to theft or irreparable damage from accidents, a comprehensive bike insurance policy provides compensation based on the Insured Declared Value (IDV) of the bike.
Yes, it is possible. Especially for new bike owners, Coverfox allow you to purchase comprehensive bike insurance online seamlessly, allowing you to get a policy within 3 minutes, without the hassle of paperwork.
There is no one-size fits all approach when it comes to picking comprehensive bike insurance as the best. Different individuals can have varied approaches to the best bike insurance plan. It depends on the features offered and your expectations from the insurance policy and the affordability of the plan
Comprehensive bike insurance covers both third-party liability and the own damages of the bike. A zero depreciation, on the other hand, is basically an add-on cover that you can purchase along with comprehensive bike insurance. At the time of raising claim, the depreciation value of your bike will not be calculated, in the presence of zero depreciation cover.
As the name suggests, a comprehensive bike insurance plan provides you with comprehensive coverage for your two-wheeler. It includes third-party liability and the expense for own damages as well. Apart from these, you also get the option of attractive and useful add-on options to increase the coverage of the policy.
Most insurance companies offer cashless features not just for comprehensive bike insurance but for standalone own damage and third-party liability plans as well. To avail of cashless benefits, you need to take your damaged bike to one of the network garages (as illustrated in your policy documents). The admissible bills, at network garages, will be directly settled between the garage and your insurer.
