The cost of a bike insurance policy is known as a premium. The Insurance Regulatory and Development Authority (IRDAI) has fixed the premium for third-party plans which vary depending upon the engine capacity of the bike. The premium amount for comprehensive bike insurance plans and for standalone own-damage bike insurance plans depends on a number of factors such as the coverage of the plan, make, model and variant, fuel type of the bike, RTO location etc.

Disclaimer: The list of insurers mentioned above is organized in descending order based on their respective Claim Settlement Ratios. InsuranceDekho neither endorses, rates nor recommends any specific insurer or insurance product offered by any insurer. The insurance plans included herein represent products offered by our partner insurers. For a comprehensive list of insurers operating in India, please refer to the official website of the Insurance Regulatory and Development Authority of India (IRDAI) at www.irdai.gov.in.

How To Get Quotes For Bike Insurance?

You can get quotes for your bike insurance by following the steps given below:

• Visit InsuranceDekho and select the bike tab
• Enter your bike’s registration number. If you do not remember your bike number then click on “Don’t remember your bike number? Click Here”
• Then, click on ‘Get your quote’. Choose your bike’s brand, bike’s model, petrol variant, bike’s registration year, bike RTO city.
• Afterward, enter your personal details such as name, mobile number, etc. Then, click on ‘Submit and Get Quotes’.

Tips To Get The Best Bike Insurance Quotes

While purchasing bike insurance, you can get the best quotes by considering the following tips:

• Make Use of The NCB

No claim bonus is the bonus that the bike insurance company offers to its customers if there hadn't been any claim made from their end for a long time. The NCB discount shows continuous growth and for every year when the claim is not made, there is an increase in discount. The NCB can go up to 50% in case if it remains claim-free for 5 years in a row.

• Select Add on Covers Wisely

Additional benefits are also to increase the coverage of your bike insurance policy at the cost of an additional premium amount. So, select the add-on covers wisely and pick only those which are necessary for your bike. Examples of add-on covers include Zero depreciation, roadside assistance, return to invoice, Engine safe cover, key loss cover, etc.

• Compare Plans Prior To Purchasing The Policy

With different types of policies available in the market, it gets difficult for the policyholder to choose the best insurance policy. To avail the optimum policy with the best quotes, compare all the policies thoroughly prior to selecting one policy. You can easily do this from the comfort of your home by comparing the policies online at InsuranceDekho with complete guidance.

• Timely Renewal Of Bike Insurance Policy

Bike insurance is generally provided for 1-5 years post which it needs to be renewed. At times of delay in the timely renewal of your bike insurance policy, you are required to pay a premium along with a fine. Also, you won’t be able to compare and choose the best quote from a variety of policies. Additionally, if the bike insurance policy has expired, the premium at the time of renewal would be at a higher end. Therefore, it is significant to get your bike insurance policy renewed on time.

• Keep Up With An Excellent Driving Record

To maintain an excellent driving record, it is necessary that you should drive safely and indulge in lesser accidents. Moreover, with fewer accidents, there would be consequently lesser claims, thus resulting in a higher No Claim Bonus. Also, your bike insurance company would get to know that the policyholder is associated with low risk. Therefore, at the time of purchasing bike insurance both these factors would help you in reducing the premium amount in order to get the best quote.

What to look for When Comparing Bike Insurance Quotes Online?

These are a few tips to help in your search for the best two-wheeler insurance:

Premium Amount: The cost of insurance is an important aspect for each of us. Keep a price point in mind, however, do not simply go looking for the cheapest insurance policy you can find. The cheapest is usually not the best, look for an affordable yet effective insurance policy.

Coverage: each policy varies in the coverage it provides. Some of them have in-built add-ons that may be useful for you.

Customer Service Reviews: We require the customer service of the insurance company usually during moments of crisis. Hence, having an insurance provider that can respond promptly and efficiently at such times is essential. Make sure to read customer service reviews before selecting your insurance provider.

Exclusions: Make sure to read the terms and conditions of the policy you choose and pay special attention to the exclusions mentioned in the document. They can make a huge difference in case of a mishap.

Claim Settlement Ratio: This is a perfect tool for analysing the insurance provider and the ease of claim processing in case of a mishap.

Insurance Company’s Reputation in the Market: At the time of purchasing a bike insurance plan online, always opt for a reputed and trustworthy two-wheeler insurance company. Also, before deciding on a particular insurance quote, make sure you go through the claim settlement ratio of the insurance provider in order to know the claim process efficiency as it would ensure that the insurance company offers an easy and hassle-free claim settlement process.

Know the Amount of Coverage Needed: Before you start looking for two-wheeler insurance plans online, it is significant to first make an assessment based upon your budget and requirement. Depending upon the amount of coverage, two-wheeler insurance can be categorized into - comprehensive insurance plan and third-party insurance plan. Based on the usage of your bike insurance, other liabilities, expenditures, select an insurance plan that provides the right coverage amount.

Discount Offered: While comparing bike insurance plans online, select an insurance plan that offers a good discount rate so that the amount of premium to be paid against the two-wheeler insurance plan gets reduced considerably. Some of the common discounts which can be claimed by you in your bike insurance plan are NCB discount, discount for opting for voluntary deductibles, etc.

What are the Benefits of Getting Bike Insurance Online?

The following are the benefits of purchasing your two-wheeler insurance online:

Lower Cost: The cost of purchasing insurance online is lower as it allows insurance companies to cut down on the cost of paperwork and middlemen.

Convenience: Purchasing your bike insurance online allows you to do it from the comfort of your home and at any time that is suitable for you.

No Paperwork: The bike insurance that you purchase will come with no lengthy procedures and paperwork. You simply receive the insurance document on your email ID after the purchase.

Policy Document is Easy to Retrieve: When you purchase insurance online it is extremely simple to get a duplicate copy of the insurance policy, unlike the traditional offline method.

Endorsements are Easily Made: With insurance available for purchase online the changes to the documents can also be made on the insurance provider's website.

What are the Pros and Cons of Purchasing Two-Wheeler Insurance Online?

The pros and cons of buying a two-wheeler insurance plan online are mentioned below: