Bike Insurance
Protect Your Ride with the Right Coverage
Bike Insurance, also known as Two-Wheeler Insurance, offers financial protection for your motorcycle or scooter against accidents, theft, and natural calamities. As per the Motor Vehicles Act, 1988, having Third-Party Bike Insurance is mandatory in India.
At CoverBee, we help you choose the right coverage for your bike with various plan options and essential add-ons tailored to your riding needs.
Types of Bike Insurance
Third-Party Insurance
Protects you against legal liabilities arising from:
● Death or injury to a third party
● Damage to third-party property
This is the minimum legal requirement.
Standalone Own Damage Cover
Covers damages to your own bike due to:
● Accidents
● Theft
● Fire or natural calamities
Comprehensive Bike Insurance
All-in-one policy that includes:
● Own Damage Cover
● Third-Party Liability Cover
Ideal for complete peace of mind.
Popular Add-On Covers for Extra Protection
Zero Depreciation Cover
Get the full claim amount without deduction for depreciation of parts like plastic, rubber, etc.
Roadside Assistance
Get help on the road with a range of essential services including minor repairs, battery jumpstart, spare key delivery, emergency fuel supply, and reliable towing service.
Invoice Cover
In case of total loss or theft, receive the full invoice value of the bike—not just the depreciated insured value.
Hydrostatic Lock Cover
Protects your engine from damage caused by water ingress, typically during heavy rain or flooding. Standard insurance won’t cover this unless you opt for this add-on.
What to Look for When Buying Bike Insurance
● Policy Type
Always opt for a plan that includes Own Damage cover in addition to the mandatory Third-Party cover.
● Insured Declared Value (IDV)
IDV is the current market value of your bike. Choosing the right IDV ensures you don’t overpay or stay underinsured.
● Add-On Covers
Essential add-ons like Zero Depreciation and Roadside Assistance are worth including for better protection.
● NCB (No Claim Bonus) Details
Disclose correct claim and NCB history. Incorrect info may lead to claim rejection.
● Claim Settlement Record
Always check the insurer’s claim settlement ratio and customer reviews. A good insurer ensures easy and fast claims.
● Premium vs. Value
Premium should reflect value. Don’t just buy the cheapest policy buy the one that gives the best coverage at the best price.
Bike Insurance FAQs
The value of your two-wheeler is based on the Insured Declared Value (IDV), which is
calculated using the manufacturer’s present market value minus depreciation according to your
vehicle’s age.
| Age of Vehicle | Depreciation (%) for IDV |
|---|---|
| Up to 6 months | 5% |
| 6 months – 1 year | 15% |
| 1 – 2 years | 20% |
| 2 – 3 years | 30% |
| 3 – 4 years | 40% |
| 4 – 5 years | 50% |
For third-party insurance, the coverage is as per the Motor Vehicles Act, 1988, and includes
Personal Accident Cover for the owner-driver.
Your premium depends on:
● Type of policy (Comprehensive or Third Party)
● Vehicle IDV (value after depreciation)
● Age and cubic capacity of the vehicle
● Zone of registration
● Past claim history
● Add-ons and deductibles
The Own Damage premium is flexible and varies across insurers. You can compare policies on CoverBee to choose the best combination of price and benefits.
As per law, Third Party insurance is mandatory. However, it only covers damages to third parties and not your vehicle.
We recommend a Comprehensive Policy, which covers third-party liability and also protects your own bike from damages due to accidents, theft, fire, natural calamities, and more.
NCB is a reward given to you for not filing a claim during your policy term. It applies to Own
Damage premium only, and increases as shown:
| Claim-Free Years | NCB Discount |
|---|---|
1 Year | 20% |
| 2 years | 25% |
| 3 years | 35% |
| 4 years | 40% |
| 5+ years | 50% |
Note: NCB belongs to the policyholder, not the bike. You can carry it forward to a new bike, but
not to a new owner if you sell your vehicle. .
If you don't renew your policy within 90 days of expiry, your NCB will lapse. Renew on time to retain your hard-earned bonus.
A deductible is the amount you agree to pay from your pocket during a claim.
There are two types:
● Compulsory Deductible: Fixed by IRDAI, based on bike type and engine capacity.
● Voluntary Deductible: You can opt for this to lower your premium, but it increases your out-of-pocket expense during a claim.
The general documents include:
● Filled claim form
● Copy of RC (Registration Certificate)
● Estimate of repair and invoice
● Repair bill and payment receipt
● FIR (in case of major accident or theft)
● All bike keys (in theft cases)
● Non-traceable report from police (in theft claims)
For cashless claims, the repair bill is directly settled with the network garage.
If there’s a break in insurance:
● Your bike may need an inspection before re-issuance
● You lose the NCB benefit if not renewed within 90 days
● You are legally not allowed to ride until the policy is renewed
Absolutely! CoverBee helps you compare policies from multiple insurers in one place.
Check the IDV, coverage, claim process, and premium to select the policy that best suits your needs.