Best Bike Insurance Plans in India 2024
Compare top two-wheeler insurance policies, get instant premium quotes, and find comprehensive coverage for your bike with our expert-reviewed guide.
Bike insurance is mandatory under the Motor Vehicles Act, 1988 for all two-wheelers in India. With over 21 crore registered two-wheelers in India, choosing the right bike insurance policy is crucial for financial protection against accidents, theft, and third-party liabilities. Our comprehensive guide helps you compare top insurers, understand coverage options, and find the best policy for your needs.
Whether you own a commuter bike, sports bike, or scooter, understanding the difference between comprehensive and third-party insurance can save you thousands of rupees while ensuring adequate protection. Use our bike insurance premium calculator to get instant quotes from multiple insurers and compare coverage options.
Key factors affecting your bike insurance premium include the bike's make and model, Insured Declared Value (IDV), your location (city zone), No Claim Bonus (NCB), and chosen add-ons. According to IRDAI data, the average claim settlement ratio for two-wheeler insurance in India is 87%, making it essential to choose an insurer with a proven track record. Check our credit score guide to understand how your financial profile affects insurance premiums, and explore car insurance options if you own multiple vehicles.
Top Bike Insurance Companies
Compare claim settlement ratios and features
Key Features:
- Instant policy issuance
- 24/7 roadside assistance
- Zero depreciation cover available
- Quick claim settlement
Key Features:
- Comprehensive coverage options
- Engine protection add-on
- Return to invoice cover
- Mobile app for claims
Key Features:
- Affordable premiums
- NCB protection available
- Consumables cover
- Easy renewal process
Key Features:
- 100% digital process
- Instant claim approval
- No inspection for new bikes
- Flexible payment options
Key Features:
- Zero commission model
- Paperless claims
- Instant policy download
- Competitive pricing
Key Features:
- Trusted PSU insurer
- Wide network coverage
- Affordable third-party plans
- Long-term policies available
Types of Bike Insurance Coverage
Provides complete protection covering own damage, theft, and third-party liabilities.
What's Covered:
- Accidental damage to your bike
- Theft and burglary
- Natural calamities (flood, earthquake)
- Man-made disasters (riots, strikes)
- Third-party legal liability
- Personal accident cover for owner-driver
Mandatory coverage protecting against legal liabilities to third parties.
What's Covered:
- Third-party property damage
- Third-party bodily injury/death
- Legal liability coverage
- Own damage NOT covered
- Theft NOT covered
- Natural calamities NOT covered
Popular Add-on Covers
Get full claim amount without depreciation deduction on parts
Covers engine damage due to water ingression or oil leakage
Get invoice value if bike is stolen or totally damaged
24/7 emergency support including towing and fuel delivery
Covers cost of consumables like engine oil, nuts, bolts
Protect your No Claim Bonus even after making a claim
Related Resources
Frequently Asked Questions
Yes, at least third-party bike insurance is mandatory under the Motor Vehicles Act, 1988. Riding without valid insurance can result in fines up to ₹2,000 and/or imprisonment up to 3 months for first offense.
IDV (Insured Declared Value) is the current market value of your bike. It's the maximum amount you'll receive if your bike is stolen or totally damaged. IDV decreases every year due to depreciation.
NCB is a discount on your premium for not making any claims during the policy period. It ranges from 20% (1 claim-free year) to 50% (5+ claim-free years). NCB belongs to the owner, not the bike, and can be transferred to a new bike.
While third-party is mandatory and cheaper, comprehensive insurance is recommended as it covers own damage, theft, and natural calamities. For bikes older than 5 years, third-party might be more economical.
Premium depends on bike's IDV, cubic capacity (CC), age, city zone, NCB, add-ons chosen, and claim history. Higher CC bikes and metro cities have higher premiums. Use our calculator above for instant estimates.
Yes, bike insurance can be transferred to the new owner when you sell your bike. The new owner must submit a transfer request to the insurer within 14 days of purchase along with required documents.