Third Party Bike Insurance Plan is a mandatory insurance plan in India providing two-wheeler insurance coverage against third-party liabilities. It includes coverage if your bike causes damage to a third party but does not cover your own damage.

A comprehensive insurance plan covers both third-party liabilities and damages caused to your own motorcycle in case of an accident, fire, natural disaster, theft, or man-made calamity like riots.

Also called OD insurance, it covers damages to your own two-wheeler.

While a basic insurance policy covers damage to your bike and third-party liabilities, a personal accident cover provides financial protection in case of your injury, disability, or death when riding the insured two-wheeler. The compensation scale is 100% in the event of the insured person's death, loss of two limbs, eyesight, or permanent total disablement. The compensation coverage is 50% for losing one limb or eyesight in one eye. You may also purchase PA cover for co-passengers in case of a road accident.

This add-on covers the depreciation of your bike parts It gives the full claim amount without deducting depreciation on your vehicle components.

In case of a breakdown, flat tyre, lost key, empty fuel, or urgent repairs, this add-on provides 24/7 roadside assistance within a specified distance. Roadside assistance cover sends you emergency help for towing your vehicle in case of an accident or breakdown, breakdown support over the phone, supply of fuel or keys, message relay, arrangement of a rental vehicle or accommodation, minor repairs, referring a hospital or legal advisor, etc.

In case of a theft or total loss of your bike, you receive the IDV of your insured bike. The add-on bridges the gap between the bike's invoice price and IDV, including taxes and registration

As part of a comprehensive bike insurance policy it offers coverage in case of partial or total damage due to water ingression, lubricant oil leakage, or damage due to hydrostatic lock. It also covers damage to all bike engine parts, including crankshafts, connecting rods, pistons, cylinders, etc.

This add-on covers parts necessary for smooth bike operation, including engine oil, chain lubricants, bolts and nuts, coolant, brake fluids, etc.

If you lose your driving license or registration certificate or both, this add-on will compensate up to a certain limit for the duplicates.

If the insured person or the pillion rider gets injured accident, this add-on will reimburse the medical expense up to a certain limit.

Online insurance services are accessible 24/7. Whether you want to buy a new policy, renew one, or raise a claim, you can do it anytime, anywhere, at your convenience. There is no need to wait for the insurance provider's opening hours.

When buying 2-wheeler insurance online, you don't need to visit the insurer's branch office physically. That means it saves much of the time and effort required for the purpose. 

One major benefit of buying bike insurance online is that comparing different insurance plans is easier. You can compare the policies online and choose the one that best suits your requirements.

Your insurance premium will largely depend on the type of coverage you opt for, be it a third-party, comprehensive, or standalone policy.

Your bike's make and model affect your premium significantly. For instance, commuter bikes have lower premium rates than high-end motorcycles. The higher the bike's value, the bigger the premium size.

Your bike's insurance premium will depend on its IDV or Insured Declared Value. Insurance providers calculate it after calculating your bike's approximate market value. Since a premium bike will have a higher IDV, its premium will also increase.

A bike’s market value decreases as it ages. Hence, IDV for a new two-wheeler will be higher than an old bike, increasing its insurance premium. 

No Claim Bonus (NCB) is the discount on premium you can get for not raising any claim during the last few policy years. The longer your claim-free period, the more NCB you can obtain when renewing your insurance policy, reducing your bike insurance charges. 

Your geographical location is important in determining your insurance premium. Since the risk of accidents is higher in metro cities, the premiums are on the higher side than in tier-1 and 2 cities. 

Your insurance premium largely depends on its price. The higher the market value, the higher the premium rate. So, opt for a cheaper bike to keep insurance rates under control.

Although a higher IDV benefits when claiming insurance, it increases your insurance premium. So, know your bike’s correct market value to enter a plan with a reasonable IDV and lower the premium.

Accidents are unpredictable. However, opting for a voluntary deductible will reduce your premium, as you agree to pay some amount from your pocket when asking for a claim.

Ensure claiming the No Claim Bonus when renewing your insurance policy. For instance, if you do not make a claim during the last year, you can get up to 20% discount on your premium. The bonus percentage increases with the duration of no claim. 

Always renew your insurance plan before the due date to retain the NCB benefits. Renewing it on time will save money on insurance premiums.

Many insurance companies offer discounts on premiums if you have ARAI-certified anti-theft devices on your vehicle. Since you have a lower theft risk, the insurer will reward you with a discounted premium.