Bike Insurance

Two-wheeler insurance, or bike insurance, is a type of insurance policy that ensures financial protection of your bike, scooter or e-bike from damages and expenses caused by accidents, theft, natural disasters, man-made hazards, etc. It is a legal contract between the policyholder and the insurer, offering financial aid for damages as per the terms of the policy. It also covers third-party damage, wherein damage caused to another vehicle by your two-wheeler in an accident is covered. This is known as third-party liability cover, which is a mandatory insurance policy as per law. Riding without insurance on Indian roads can lead to fines of ₹2,000 to ₹4,000. For new two-wheeler owners, a 5-year third-party plan is mandatory to ensure legal compliance and avoid challans.

Coverfox makes choosing the right bike insurance simple and hassle-free. You can explore multiple plans, compare premiums from top insurers starting at just ₹457, and find coverage that suits your needs, all in one place. Whether you're buying a new policy or renewing an existing one, we ensure you get the best deal possible and guide you through every step of the process with complete ease.

In India, you can buy 3 types of two-wheeler insurance online: third-party (covers damage to others), own-damage (covers your bike), and comprehensive (covers both). Let’s have a detailed look at all of the types of two-wheeler insurance online.

When selecting a bike insurance policy, it’s important to understand the available options to choose the one that best fits your needs. Here’s a detailed look at the three main types of bike insurance policies:

Third-Party Bike Insurance

In a third-party liability insurance, only the damages done to a third party (individual or property) are covered. A third party bike insurance is a mandatory policy that ensures that you are legally compliant and financially covered if your vehicle causes damage to a third party in an accident.

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Comprehensive Bike Insurance

A comprehensive bike insurance gives all-around financial protection to the policyholder. It covers any damages done to the policyholder’s bike, any third-party liability and can be further customised using add-ons. It is recommended for people looking for new bike insurance to ensure complete financial security.

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Standalone Bike Insurance

A standalone insurance policy or own-damage two wheeler insurance covers damages done to the policyholder’s vehicle only. No third-party liabilities will be covered under this type of insurance, so ensure to get a third-party insurance before buying a standalone cover plan. This is a cost-effective bike insurance plan.

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Premium rates are the bike insurance prices that one needs to pay for a particular term (typically 1 year) to avail two-wheeler insurance services. This bike insurance price depends on the coverage plan selected, along with the add-ons, discounts, and on the make model of the bike. Since comprehensive coverage plans cover multiple things and can be heavily customised, we cannot pre-amptively determine its cost. However, price for third-party liability insurance is set by IRDAI based on cubic capacity of the bike, and power output in an e-bike and are as follows:

Bike Insurance Premium Rates for Petrol/Diesel Motorcycles

Bike Insurance Premium Rates for E-Bikes

Bike insurance premiums are generally affordable, but without proper planning or smart use of benefits, they can become costly. Here are some effective tips to help you reduce your premium price:

Comparing bike insurance policies online helps you determine the best possible policy for your two-wheelers. It ensures you take the right decision and do not regret later. Coverfox provides the best platform to compare bike insurers online. You can compare different insurer factors like reviews, claim settlement ratios, network garages etc online through Coverfox. Here are a few tips to compare insurers online:

If you are looking to buy bike insurance online for your two-wheeler or renew your existing policy, you have come to the right place. Coverfox provides everything you need while looking for a bike insurance policy. You can compare insurance prices, select add-ons, get discounts and everything can be done completely online! Just follow these simple steps:

Documents Required When Buying Bike Insurance Online

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Bike registration certificate (RC).

Previous insurance details (for renewal).

Personal identification proof

Address proof

Invoice of purchase of new bike (for new bike insurance)

Driving Licence

After you purchase bike insurance, at a point you might need to file for a claim. Filing a claim is basically asking the insurance to make you whole for an incident or a repair that is covered under your bike insurance policy. There are 2 types of claims, one is cashless claim the other is reimbursement claims. Here’s a thorough guide on how to file a claim against your bike insurer:

Electric or e-bike insurance is a two-wheeler insurance plan designed specifically for electric scooters and motorcycles. While it covers common risks like accidents, theft, TP liability, and natural disasters, it also covers EV-specific risks like battery damage, charging-related damage, short-circuits, etc (as per policy terms).

Given the high cost and importance of EV components, this insurance can be enhanced with add-ons that protect parts like the battery, motor, charger, and other electrical systems, offering broader and more relevant coverage for electric bike owners.