Bike Insurance - Protect Your Two Wheeler on Every Ride

Get comprehensive bike insurance from Hemang Corporate. Protect your two wheeler against accidents, theft, natural disasters, and third-party liabilities with instant policy issuance.

What is Bike Insurance?

Bike insurance, also known as two wheeler insurance, provides financial protection for your motorcycle or scooter against damages from accidents, theft, natural disasters, and third-party liabilities. As per Indian law, having at least third-party bike insurance is mandatory under the Motor Vehicles Act, 1988[IRDAI]. The Insurance Regulatory and Development Authority of India (IRDAI) regulates all two wheeler insurance products and sets the third-party premium rates for bikes based on engine capacity.

At Hemang Corporate, we offer comprehensive bike insurance plans from top insurance providers. Whether you own a 110cc scooter like a Honda Activa, a 150cc commuter bike, a 200cc sports motorcycle, or a 350cc Royal Enfield, we have the right coverage for you at competitive premiums. Unlike car insurance where premiums vary significantly by model, bike insurance premiums are largely driven by engine cubic capacity (cc) which directly correlates with risk.

Why Choose Our Bike Insurance

Comprehensive Coverage

Complete protection for your bike against accidents, theft, fire, natural disasters, and third-party liabilities. Ride worry-free with full coverage.

Instant Policy

Get your bike insurance policy issued instantly online. No paperwork required - receive your policy documents via email within minutes.

Affordable Premiums

Get comprehensive coverage at premiums starting from just Rs 1,000 per year. Compare plans from multiple insurers for the best deal.

NCB Discount

Earn No Claim Bonus for every claim-free year. Get discounts up to 50% on your renewal premium for maintaining a clean record.

349+
Bikes Insured
20+
Insurance Partners
98%
Claim Settlement

Types of Bike Insurance We Offer

1. Comprehensive Bike Insurance

Full coverage for your two wheeler including own damage, third-party liability, personal accident cover, and optional add-ons. The best choice for complete protection.

  • Own damage coverage up to vehicle IDV
  • Third-party liability coverage
  • Personal accident cover for owner
  • Optional add-ons available

2. Third-Party Liability Insurance

Legally mandatory insurance covering damages to third parties only. Does not cover your own bike damage but is essential for legal compliance. Third-party premiums for bikes are set directly by IRDAI based on engine capacity brackets: up to 75cc, 75-150cc, 150-350cc, and above 350cc.

3. Zero Depreciation Add-On

Get full claim without depreciation deduction on rubber, plastic, and fiber parts. Essential for new bikes and sports motorcycles where replacement parts are expensive.

4. Return to Invoice Add-On

In case of total loss or theft, receive the full invoice value instead of IDV. Protects your investment completely, especially important for premium motorcycles and scooters.

5. Pillion Rider Cover Add-On

Extends personal accident cover to the person riding pillion on your bike. Standard bike insurance covers only the owner-rider. This add-on is affordable and highly recommended for families who use a single bike for commuting.

How Bike Insurance Premiums Are Calculated

Bike insurance premiums are calculated differently from car insurance. Here are the factors that determine what you pay for your two wheeler insurance[IRDAI]:

  • Engine Capacity (CC): This is the biggest factor. Bikes are classified into cc brackets: up to 75cc (scooters like Chetak), 75-150cc (Activa, Splendor), 150-350cc (Pulsar, Apache, Royal Enfield 350), and above 350cc (Royal Enfield 650, superbikes). Higher cc = higher risk = higher premium.
  • Vehicle Age: New bikes have higher IDV and premium. As the bike ages, IDV depreciates and premium reduces. After 15 years, only third-party insurance is available.
  • Type of Bike: Scooters (automatic, step-through) generally have lower premiums than motorcycles (geared, higher speeds) within the same cc bracket. A 125cc scooter like Suzuki Access costs less to insure than a 125cc motorcycle like Honda SP125.
  • No Claim Bonus (NCB): Up to 50% discount on own-damage premium for consecutive claim-free years. NCB is preserved for 90 days after policy expiry.
  • Geographical Zone: As with cars, IRDAI zones apply. Rajkot (Zone B) has moderate premium rates. Metro cities like Mumbai and Delhi (Zone A) pay higher premiums.
  • Voluntary Deductible: Choosing a higher deductible reduces your premium. This is a cost-effective option for experienced riders with a good safety record.
  • Anti-Theft Devices: Bikes equipped with IRDAI-approved anti-theft devices may qualify for a discount on the theft component of the premium.

For example, a 2024 Honda Activa 110cc comprehensive policy costs approximately Rs 1,500-2,500 annually. A Bajaj Pulsar NS200 costs around Rs 4,000-7,000, while a Royal Enfield Classic 350 may cost Rs 5,000-10,000 depending on IDV and add-ons selected. Third-party premiums for bikes are fixed by IRDAI and do not vary between insurers - for a 75-150cc bike, the TP premium is approximately Rs 750-1,000 per year.

IRDAI Regulations for Two Wheeler Insurance

The Insurance Regulatory and Development Authority of India (IRDAI) has specific regulations for two wheeler insurance that differ from car insurance[IRDAI]. Key regulations include:

  • IRDAI-Fixed Third-Party Premiums: Unlike own-damage premiums which insurers can price competitively, third-party liability premiums for bikes are fixed by IRDAI based on engine capacity brackets. This means all insurers charge the same TP premium for your bike - you cannot negotiate on this component.
  • Mandatory Third-Party Cover: Riding without at least third-party insurance is illegal under the Motor Vehicles Act, 1988[Motor Vehicles Act]. Fines range from Rs 1,000 to Rs 2,000 plus possible imprisonment.
  • Standard Policy Wordings: IRDAI mandates uniform policy wordings for two wheeler insurance, so the core coverage is the same across all insurance companies.
  • Claim Settlement: Insurers must settle bike insurance claims within 30 days of complete document submission. Cashless claims via network garages are processed faster.
  • Policy Portability: You can switch insurers at renewal time while retaining your accumulated NCB. This promotes healthy competition among insurers.
  • Personal Accident Cover: Every two wheeler insurance policy must include a personal accident cover of Rs 15 lakhs for the owner-driver as mandated by IRDAI. This is a standard benefit.

At Hemang Corporate, our licensed advisors ensure your bike insurance policy fully complies with all IRDAI regulations while maximizing your benefits.

Step-by-Step Bike Insurance Claim Process

The claim process for bike insurance is simpler and faster than car insurance due to lower repair costs. Here is the step-by-step process:

  • Step 1 - Report the Incident: Call your insurer or visit us at Hemang Corporate immediately after an accident, theft, or damage. We handle the first intimation on your behalf.
  • Step 2 - File FIR: For theft cases, file an FIR at the nearest police station. For accidents involving third-party injury or property damage, an FIR is also required. Keep a copy for claim submission.
  • Step 3 - Submit Documents: Provide RC copy, driving license copy, FIR copy (if applicable), and filled claim form. Most insurers accept digital submissions via their mobile apps.
  • Step 4 - Vehicle Inspection: A surveyor inspects the bike damage. For cashless claims, take your bike to an authorized network garage. The survey usually takes 1-2 hours for minor repairs.
  • Step 5 - Claim Approval: Once the survey report is approved, the insurer issues a claim approval. Cashless claims are approved within 24-48 hours for minor damages.
  • Step 6 - Repair & Settlement: The network garage repairs your bike and bills the insurer directly. For reimbursement claims, you pay the garage and claim reimbursement within 30 days.

Our team at Hemang Corporate ensures your bike insurance claim is processed smoothly. We coordinate with the surveyor and garage so you don't have to run around.

Tips to Reduce Your Bike Insurance Premium

Two wheeler insurance is already affordable, but here are ways to reduce your premium further:

  • Build NCB: Avoid filing claims for minor damages (scratches, dented fenders). Pay for small repairs out of pocket and let your NCB grow. Over 5 claim-free years, you can save up to 50% on own-damage premium.
  • Install Anti-Theft Security: Fit your bike with an IRDAI-approved anti-theft device or GPS tracker. This qualifies you for a discount on the theft component and also protects against bike theft - a common risk in urban areas.
  • Choose a Higher Voluntary Deductible: Opting for a voluntary deductible of Rs 1,000-2,500 can reduce your premium by 10-20%. This is ideal for riders with good safety habits.
  • Compare Plans at Renewal: Don't auto-renew with the same insurer. Get quotes from 2-3 insurers each year. Since TP premiums are fixed, competition is on own-damage rates and add-on pricing.
  • Renew On Time: A policy lapse means loss of NCB. Renew at least 2-4 weeks before expiry. Lapse beyond 90 days requires vehicle inspection and loss of all accumulated NCB.
  • Limit Add-Ons on Older Bikes: For bikes older than 5 years, skip expensive add-ons like zero depreciation. The premium for add-ons may exceed the value they provide for older vehicles.

Speak with our advisors at Hemang Corporate for a personalized bike insurance quote and premium optimization suggestions.

Common Exclusions in Bike Insurance

Knowing what is not covered helps you avoid claim rejections. Here are the most common exclusions in standard two wheeler insurance policies:

  • Wear and Tear: Normal depreciation of tires, chains, sprockets, clutch plates, and brake pads is not covered. These are routine maintenance costs.
  • Mechanical Breakdown: Engine or gearbox failure due to manufacturing defects, lack of oil, or poor maintenance is excluded. Only accidental damage is covered.
  • Riding Without a Helmet: While not a direct policy exclusion, if an accident occurs and the rider was not wearing a helmet, insurers may dispute personal accident claims due to contributory negligence.
  • Driving Under Influence: Any accident while under the influence of alcohol or drugs voids the policy entirely. Claims will be rejected without exception.
  • Unauthorized Rider: If the bike is being ridden by someone without a valid driving license, claims will be rejected. Always ensure the rider has a proper license for the cc category.
  • Racing or Stunts: Damage caused while participating in races, speed trials, or stunts is excluded. Standard policies only cover road-legal usage.
  • Theft of Accessories: Standard bike insurance does not cover theft of accessories like mobile holders, saddle bags, or custom parts unless specifically declared and covered.

For a detailed understanding of your bike insurance policy exclusions and coverage, consult our team at Hemang Corporate.

Documents Required for Bike Insurance

For New Bike Insurance

Bike invoice copy, registration certificate (RC), identity proof (Aadhaar/PAN), address proof, and passport size photographs.

For Renewal

Previous policy copy, RC copy, identity proof. No inspection required for timely renewals without break-in.

Get Your Bike Insurance Today

Protect your two wheeler with comprehensive insurance from Hemang Corporate. Compare plans and get the best coverage at the best price.

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Frequently Asked Questions

Standard bike insurance does not cover pillion rider personal accident cover by default. You need to purchase a separate pillion rider cover add-on to extend personal accident coverage to the person riding behind you. This add-on is very affordable, typically adding only Rs 100-300 to the annual premium.

Scooters (100-125cc) have significantly lower premiums than motorcycles due to smaller engine capacity, lower IDV, and lower risk profile. A Honda Activa 110cc comprehensive policy costs around Rs 1,500-2,500 annually. A Bajaj Pulsar 200cc costs around Rs 4,000-7,000. A Royal Enfield Classic 350cc costs Rs 5,000-10,000. The biggest jump happens when moving from sub-150cc to above 150cc bikes.

No, third-party bike insurance premiums are fixed by IRDAI based on engine capacity brackets. All insurers charge the exact same TP premium for your bike. The competitive difference between insurers comes from own-damage premium rates, add-on pricing, and claim service quality. At Hemang Corporate, we help you compare own-damage rates across insurers to find the best overall deal.

Yes, but only third-party insurance is available for bikes older than 15 years. Comprehensive (own-damage) coverage is not offered due to the difficulty in assessing the vehicle's condition and value. You can still get third-party liability cover which fulfills the legal requirement. Some insurers may offer renewals for comprehensive policies on 15+ year old bikes if they were continuously insured, but this varies by insurer.

Yes, comprehensive bike insurance covers theft of the vehicle. In case of theft, you must file an FIR immediately and submit a copy to the insurer. The claim is processed after a waiting period of 30-90 days (depending on the insurer) during which the police try to recover the vehicle. If not recovered, the insurer pays the IDV amount. Third-party insurance does NOT cover theft.

There is no statutory grace period for motor insurance in India. If your policy expires and you ride without insurance, you are breaking the law. However, many insurers offer a 30-day grace period for renewal during which your NCB is preserved. If you renew within 90 days of expiry, NCB is retained but a break-in period applies. Beyond 90 days, NCB is lost and vehicle inspection is required.