Key features and benefits of Two-wheeler Insurance
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Cashless claim settlement at 6,500+ network garages
Repair your damaged two-wheeler across 6,500+ network garages and avail of cashless claim facilities.
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Doorstep claim settlement
Repair your two-wheeler at partner garages and get it delivered to your doorstep within 3 days.
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Own-damage coverage
Get coverage against damages caused to your two-wheeler due to natural calamities, theft, fire, and accidents.
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Third-party liability coverage
While buying a two-wheeler insurance online with third-party coverage, the expenses incurred due to physical injuries caused to a third party or damages or losses caused to their property or vehicle are covered.
Know more about third-party bike insurance coverage. -
Personal accident cover
With bike insurance policies, get covered for up to Rs. 15 lakh in case of accidents that lead to injuries, disability, or death of the owner-rider of the vehicle.
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No claim bonus
Benefit from No Claim Bonus and get up to a 50% discount on your own damage premium, depending on the policy years.
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Multiple optional add-ons covers
Choose from multiple add-on covers: loss of accessories, legal liability to paid driver, cleaner, or any workman, and personal accident cover for occupants.
Get more information about the available add-on covers. -
Types of bike insurance
There are two types of two-wheeler insurance online:
Comprehensive insurance
As the name suggests, this insurance provides comprehensive coverage and is highly recommended. It covers damages for an insured two-wheeler, personal accident coverage for the rider, and any third-party liability caused by the insured two-wheeler.\ The insured bike is also fully covered against fire, explosion, theft, accident, self-ignition or lightning, natural disasters, terrorist activity, damage in transit by road, rail, inland waterway, lift, elevator, or air.
Third-party insurance
This insurance is mandatory in India and covers the policyholder against liability for the damage caused by the insured two-wheeler to other people's vehicles or property. The damage can be third-party vehicle damage, injuries, death, or property damage. But the third-party bike insurance doesn’t cover any damages for the insured two-wheeler or the rider.
Add-ons for Two-wheeler Insurance policy
Zero-depreciation cover
Zero-depreciation add-on protection is best suited for new vehicles. It lets you avoid depreciation cuts, and the owner gets the full benefit in case of any incident. In this cover, you receive full value for your two-wheeler and all its spare parts, as the depreciation of your motorcycle is not considered by your insurer.
Roadside assistance cover
One of the most terrifying scenarios for any rider is being stuck on the road with a two wheeler that is not functioning. With the add-on facility of roadside assistance, you'll have access to 24x7 emergency roadside assistance, including towing services in the event of a breakdown.
Key replacement cover
In case the key to your bike is stolen, you should immediately replace the lockset and keys as it poses a risk of vehicle theft. Add-on service like key protect cover in bike insurance covers the cost involved in the repair or replacement of your two-wheeler keys and lockset.
Outstation emergency cover
The outstation emergency cover protects you from accidents or breakdowns that occur outside of a 100-kilometer radius of your home. In addition, if the repair time crosses 12 hours or more, the insurance company also reimburses you with Rs. 2,500.
Personal accident cover for passengers
Personal accident cover for passengers is an added layer of protection for your loved ones. In case of any unfortunate incident, you will get coverage of up to Rs. 1 lakh per passenger as per the terms and conditions of your two-wheeler insurance policy.
Engine protection cover
You can add more protection to your two-wheeler by getting financial help for expenses arising from water ingression, oil leakage, and more.
Factors affecting two-wheeler insurance premium
The premium of two-wheeler insurance is determined by several criteria. The insurance company calculates the premium amount by weighing various risks. Here’s the list of factors that influence the cost of a bike insurance policy:
Make and model
The manufacture and model of the vehicle are the one of the essential elements that influence the bike insurance rate. If you own a low-cost bike, your insurance rate will be lower as well. However, if you own a high-priced sports bike, you will have to pay a greater premium.
Age of the vehicle
The age of a vehicle is also considered when calculating the policy premium. Therefore, when purchasing a bike insurance policy, insurers require you to enter the age of the bike to provide policy rates. A new bike has a higher value than an old bike, which means the former will have to pay a higher premium for insurance, while the latter would have to pay a lesser cost.
Insured Declared Value (IDV)
The IDV of a vehicle denotes its current market value. The IDV of a bike is computed every year as with time the value of the bike reduces due to depreciation. The insurance company evaluates the sum to be compensated based on the vehicle’s IDV, and accordingly the premium is also decided.
Engine capacity
One of the most common and important factors that influence the rates of bike insurance premiums is the engine capacity of the bike. The cubic capacity of the engine is used to calculate its size (cc).
No Claim Bonus
The No Claim Bonus (NCB) is a reward given by insurers to policyholders who do not file a claim during the policy year. The NCB is delivered in the form of a reduction in the following policy year's premium. With consecutive claim-free years and responsible driving, you can accumulate this advantage up to 50%. As a result, the insurance premium is influenced because you will have to pay it after the NCB
How to save on bike insurance premium
There are various methods to save money on your two-wheeler insurance policy without sacrificing coverage. Take a look at the following:
Claim your NCB
For every claim-free year, you'll get an NCB. You can use your NCB to get premium discounts without lowering your coverage level and can also get assistance in bike insurance renewal.
Know the year your bike was built
It's critical to know the year your bike was built. Because older motorcycles have a smaller IDV, thus the premium rates are low.
Install safety gadgets
Safety devices that can improve the safety of your bike should be considered. This is because your insurance company will recognise your installation and give you a discount on your payment.
Choose your bike's engine capacity wisely
Choosing your vehicle's engine cubic capacity, or CC, is critical because a greater CC draws a higher premium. As a result, you must carefully select the CC engine while purchasing.
Choose a higher voluntary deductible
Deductibles reduce the insurer's liability by requiring you to pay a portion of the claim amount out of your pocket. As a result, if you choose a high optional deductible, your insurer will reward you with lower premiums.
Step-by-step guide to buy Two-wheeler Insurance plans on Bajaj Finance Insurance Mall
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Step 1
Click here to visit the online application form.
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Step 2
Enter the vehicle type, registration number, mobile number, and residential PIN code. Check the terms and conditions and click on the ‘Get Quote’ button below.
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Step 3
Choose the IDV, NCB value, optional add-on covers and plan type to get a list of relevant insurance policies. You need to update your current insurance policy expiry date here.
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Step 4
Click on the ‘Buy Now’ button. You will need to add owner-driver personal accident cover mandated by the RTO. Click on Next to proceed.
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Step 5
Confirm the vehicle registration date and the previous policy type (Comprehensive/third-party). Click on 'Proceed’.
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Step 6
Enter vehicle owner’s name, date of birth, residential address and contact number. Also, enter vehicle engine and chassis number (as per the RC) and previous policy details.
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Step 7
Review your previously filled details and make the payment through your preferred online payment mode – Net banking, UPI, Credit/Debit card to buy the policy.
After successful payment, your policy document will be available for you to download instantly. A copy of the policy document will also be mailed to your registered email ID within 5-7 working days.
You will also receive an SMS confirmation immediately after the payment process is completed.
You can also access your policy details through the 'My Account' section within 5-7 days after purchase.
Key inclusions and exclusions
Here’s a quick look at the inclusions and exclusions of two-wheeler insurance policies:
- Key inclusions
- Key exclusions
Key inclusions | Description |
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Third-party liabilities | Gives financial and legal coverage against physical injury and/or property damage caused to the third party by your insured vehicle |
Personal accident cover | Compensates the specified sum insured on the policy in case of the insured’s demise or if he/she suffers from permanent total disability due to an accident |
Accidental damage | Covers damages or losses caused to the insured vehicles in any incident such as accidents, natural disasters, theft, or malfunctions |
Fire damage | Coverage against damages caused due to fire explosion, self-ignition, or lightning |
Theft | In case the two-wheeler is stolen, the insurer will provide coverage |
Key exclusions | Description |
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Location | Any loss or damage caused to your two-wheeler outside the geographical limits of India |
Pre-existing damages | Any damage that your two-wheeler has suffered before buying this two-wheeler insurance policy |
Normal wear and tear | Repair or replacement costs of two-wheeler parts that are damaged over time due to regular usage |
How to raise a cashless claim with ACKO
Follow these steps to raise cashless claim requests with ACKO Two-wheeler Insurance:
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Step 1 - Contact the insurer
Log in to acko.com or ACKO app and click on ‘Claim Now’ to register your claim request
You can also call 1800-266-2256 (toll-free) to register your claim or send an e-mail to hello@acko.com -
Step 2 - Locate your nearest network garage
Once the claim is registered, take the two-wheeler to an ACKO network garage near you. In some cases, a crew may be assigned to take your two-wheeler for repairs at network garages
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Step 3 – Repair cost and coverage is estimated
A surveyor along with a mechanic will discuss and let you know the repair cost and the coverage amount based on the applicable terms and conditions
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Step 4 – Bill is settled between ACKO and the garage
The garage will repair the two-wheeler and settle the bill directly with ACKO
The balance (deductibles) amount needs to be paid by you to the garage
How to raise a reimbursement claim with ACKO
To reimburse your two-wheeler repairing bills with ACKO Two-wheeler Insurance, follow these steps.
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Step 1 - Contact the insurer
Log in to acko.com or ACKO app using your registered mobile number or call 1800-266-2256 (toll-free) to register your claim and inform ACKO about the damage to your two-wheeler
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Step 2 – Repair your two-wheeler at any of your preferred garage
Get your two-wheeler repaired at your preferred garage, pay the bills, and retain the invoice
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Step 3 - Submit the required documents
Submit the reimbursement claim with ACKO by logging in to their website or app and uploading the invoice and the other necessary documents
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Step 4 - Claim settlement
ACKO will review your claim and verify the documents to process the reimbursement as per the policy's terms and conditions
How to raise a cashless claim with Bajaj Allianz General Insurance
Follow these steps to raise cashless claim requests with Bajaj Allianz Two-wheeler Insurance.
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Step 1 - Contact the insurer
Register your claim: Call the toll-free number 1800-209-5858 or Write an email at: bagichelp@bajajallianz.co.in or Directly visit the insurer's website
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Step 2 – Provide some basic details
Share some basic details with the insurer: Contact number, engine and chassis number, date, time, description and location of the accident, vehicle inspection address, kilometre reading on the vehicle
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Step 3 – Receive claim reference number
You will receive a claim reference number from the insurer and an SMS about the exact status of your claim
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Step 4 – Locate your nearest network garage
Take your vehicle or have it towed for repair to the nearest network garage
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Step 5 – Bill is settled between the insurer and the garage
The vehicle will be repaired at a network garage and delivered to your doorstep. The insurer will settle the bills directly with the garage
How to raise a reimbursement claim with Bajaj Allianz General Insurance
Follow these steps to raise reimbursement claim requests with Bajaj Allianz Two-wheeler Insurance.
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Step 1 - Contact the insurer
Register your claim: Call the toll-free number 1800-209-5858 or Write an email at: bagichelp@bajajallianz.co.in or Directly visit the insurer's website
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Step 2 – Provide some basic details
Share some basic details with the insurer: Contact number, engine and chassis number, date, time, description and location of the accident, vehicle inspection address, kilometre reading on the vehicle
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Step 3 – Receive claim reference number
You will receive a claim reference number from the insurer and an SMS about the exact status of your claim
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Step 4 – Repair your two-wheeler at any of your preferred garage
Get your two-wheeler repaired at your preferred garage, pay the bills, and retain the invoice
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Step 5 - Submit the required documents
Submit bills along with the documents online or to the nearest Bajaj Allianz office
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Step 6 – Claim settlement
Reimbursement will take approximately 7 - 30 days (for a net of loss) from the date of submission of the final bill, provided all documents are in order and within policy purview
Frequently asked questions
A cashless two-wheeler insurance claim is designed to provide you with instant aid after an accident or any unfortunate event and helps you avoid paying any repair costs. However, the cashless claim can only be availed when your two-wheeler is sent for repair to a network garage of your insurance provider.
A policyholder receives a No Claim Bonus (NCB) if they haven't filed any claims throughout the insurance period. The comprehensive bike insurance plan in India varies between 20-50%, according to current laws. A third-party motor insurance plan does not qualify for the NCB. At the time of the vehicle transfer, the insurance plan can be transferred to a new insurance provider, but NCB can't be transferred. The new buyer is responsible for paying the outstanding balance. The NCB can be used by the two-wheeler’s original owner when acquiring a new vehicle.
Comprehensive two-wheeler insurance gives coverage to your third-party liabilities in addition to the damage sustained by your bike/two-wheeler due to an accident, theft, fire, or natural calamities like earthquakes, floods, and man-made disasters.
The following are the most significant elements that influence bike insurance premiums:
1. Insured declared value (IDV)
2. Make and model of the two-wheeler
3. Deductibles
4. Seating capacity
5. Cubic capacity
6. Previous insurance history
The type of coverage has an impact on the premiums. Do compare insurance premiums to obtain the best deal. The IRDA decides third-party premium amounts.
The deductible is the amount that must be paid out of pocket if a claim is filed. Generally, there is a standard or mandatory deductible for most automobiles, such as two-wheelers, or cars and commercial vehicles like trucks. It depends on the carrying capacity or cubic capacity of the vehicle. However, in some situations, the insurance carrier may impose a larger deductible based on the vehicle's age or the frequency with which the claims are filed.