Bike Insurance In Chennai

If you live in Chennai, you would agree that bikes and other two-wheelers are some of the fastest ways to move through this busy city. Every day, countless riders pass through the bustling neighbourhoods of T.Nagar, Guindy, Velachery, and Anna Salai.

While owning a bike makes your daily travel easier, it also involves various safety challenges. For instance, you will often have to ride on pothole-prone roads, through tight traffic congestion, and along waterlogged streets during the monsoons. As these situations are unavoidable, it is recommended to own bike insurance in Chennai for your safety. Riding a bike without insurance can result in a ₹2,000 fine for a first offense and even up to 3 months in jail.

IndusInd General Insurance (formerly Reliance General Insurance) offers comprehensive bike insurance plans that cover everything - from minor damages like paint scratches and body dents to major repairs arising from accidents or even a total loss due to theft or collision. We ensure that our policyholders do not have to face financial stress alone. When immediate help is needed, you can use our IndusInd Insurance app to initiate your claim effortlessly in just a few taps.

Why Should You Buy Bike Insurance in Chennai?

Daily Traffic Risks

The roads of Chennai are known for their high vehicle density, with road designs prioritising car drivers while often compromising the safety of motorists and pedestrians. So, you can consider getting bike insurance in Chennai to ensure that any third-party liability is covered and you are financially secure during your daily commutes.

Monsoon Damage

Chennai's coastal location sometimes makes the weather unpredictable, with residents facing heavy rainfall, cyclones, and waterlogging in the streets, particularly during the monsoons. When you own a standard bike insurance plan, you can easily minimise the financial impact of damages caused by such unforeseen natural disasters.

Theft Protection

With bike insurance, you are financially covered if your two-wheeler is stolen or lost, up to your policy’s Insured Declared Value (IDV). In Chennai’s crowded localities, secure parking spaces are not always available, forcing many to leave their bikes in shared or open spaces. So, insurance becomes crucial to protect your bike against theft.

Road and Rodent Damage

In Chennai, poor road conditions frequently cause problems for bike riders. Particularly from June to September, increased humidity attracts rodents to take shelter in damp areas. These might cause tyre damage, electrical problems, scratches on the body, and more. With bike insurance and suitable add-ons, you can get compensated for these common issues.

Cashless Garage Access

Safely transporting your damaged bike to a dependable garage in Chennai's traffic and handling the large repair bills upfront can become a major hassle. Thus, you can trust IndusInd General Insurance as we have a huge network of 11,000+ garages* across India. You can get high-quality cashless repairs at these facilities with the minimum turnaround time.

Easy Online Process

Dealing with bike insurance offline is understandably difficult, especially when you are living in a busy city like Chennai. Hence, it is better to purchase bike insurance in Chennai online as it is 100% safe, legal and more affordable. If you choose us, you can easily renew or claim your insurance from anywhere conveniently via our mobile app.

Why Choose Us?

Why 8 Crore+ Policyholders Choose Us?

IndusInd Bike Insurance ensures dedicated coverage for two-wheeler owners in Chennai with more than 10 key optional add-ons*. Packed with features like cashless repairs, instant claims and exclusive online bonuses, it makes sure that your bike is consistently covered while you ride across the city.

Location - Bike Insurance

Up to 5 Years Coverage

Get long and short term coverage

11,000+ Garages

Cashless repairs nationwide

Access to Video Claims

File claims on the go using your phone

24/7 Breakdown Help

Quick roadside assistance

Types of Bike Insurance in Chennai

Comprehensive Bike Insurance

In Chennai, a total of 3,460 road accidents were recorded in 2024, of which nearly half involved bikes. Buying a comprehensive bike insurance plan can be your smartest decision to secure all-around protection. It will pay for accidental damage repairs of your own bike, cover third-party liabilities and also protect you from the risks of natural disasters, fire and theft.

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Short-Term Own-Damage Bike Insurance

If you already have third-party bike insurance, you can opt for this brief OD cover to protect your bike from accidents, natural disasters, or theft for a few months. Coverage options begin at just 1 month*, making this type of insurance policy more budget-friendly than a one-year own-damage bike insurance.

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Long-Term Own-Damage Bike Insurance

New bike owners in Chennai can pair their compulsory third-party bike insurance with an own-damage cover. It makes more sense as you realise how easily your bike can get scratched or damaged while manoeuvring through heavy traffic. So, you can combine this cover with third-party insurance to recover your own bike repair costs if there is an accident or financial loss due to natural disasters or theft.

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Third-Party Bike Insurance

As per the Motor Vehicles Act, 1988, third-party liability insurance is mandatory for bike owners across India. Beyond fulfilling a legal requirement, it becomes vital when riding along the busy roads of Chennai. Whether you accidentally hit another vehicle or cause injury to a pedestrian, this policy protects you from the financial and legal liabilities that may follow.

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Inclusions & Exclusions

Bike Insurance in Chennai : Inclusions and Exclusions

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What is covered?

Accidents & Collisions: Covers repair and medical costs if your bike meets with an accident on Mumbai’s busy roads, including damages caused to others or their property.

Third-Party Damages: Provides financial coverage for repairs if your bike causes damage to someone else’s vehicle or property in congested areas.

Natural & Man-made Disasters: Be it flooding during Mumbai monsoons or events like strikes during citywide protests, your bike is protected against such damages.

Rodent Damage: In case of rat bites or stray animal attacks, internal or external bike damage is covered.

Theft Coverage: If your bike is stolen from your apartment lot or a crowded railway station, you’ll be compensated for the loss based on the bike’s Insured Declared Value.

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What is not covered?

Wear & Tear and Depreciation: We cover all repair costs, except those arising from wear and tear and the natural degradation of parts that occur with regular use.

Accessories: You're fully covered for factory-fitted accessories under the base plan. However, any electrical and non-electrical accessories fitted to your bike after purchase require add-on coverage.

Law Violations and Outside Coverage Zone: You're fully covered for accident-related claims except for ones arising out of law violations or damage occurring to your bike outside of India's borders.

Disclaimer: Please check the official policy documents for detailed information about inclusions and exclusions under your plan.

Need bike insurance? Just call us, we’ll sort it out in minutes!

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Bike Insurance Add-Ons for Chennai Riders

Our bike insurance optional add-ons safeguard you from depreciation, engine breakdowns and much more. So, if you think your bike needs extra protection or are looking to reduce out-of-pocket repair costs, you may carefully choose the required add-ons.

Nil Depreciation Cover

Uneven road conditions in Chennai can lead to minor dents or accidents, damaging your bike's plastic or rubber parts. If you have a zero-depreciation add-on, you can secure the full claim amount of the damaged parts without any depreciation deductions.

Engine Protector

During monsoons, many parts of Chennai experience waterlogging or flash flooding. If you live in such flood-prone areas, your bike's engine remains at serious risk. With an engine protector add-on, you can recover common engine repair costs from water and oil leaks.

Consumable Cover

Riding your bike daily requires periodic engine oil refills. Also, minor accidents can necessitate replacing brake fluids, nuts, bolts, and other minor parts. As these consumables are not covered under standard bike insurance, considering this add-on can help you save on costly repairs.

Key Replacement

Losing bike keys is more common than you might think. If it ever happens to you, this crucial add-on compensates for the replacement cost of lost or broken bike keys. Additionally, you can rely on it to replace your bike’s damaged lock set.

Tyre Protector

If any of your bike's tyres are accidentally damaged, this cover can pay for the necessary repair or replacement costs. Therefore, it can be useful for riders who travel long distances on their bikes daily. It even includes wheel balancing, alignment and consumables costs.

NCB Retention

With this add-on, your no-claim bonus benefits are retained even after you file a claim in a particular policy year*. However, for this work, your claimed amount should not exceed 25% of your bike insurance plan’s insured declared value (IDV) amount.

Helmet Cover

Suppose your helmet is damaged in a road accident. If you have the helmet cover, then it will offer you the cost to replace your old helmet or buy a similar model. This protects your safety, especially since some helmets are costly, and thus many might delay purchasing a new one.

Return to Invoice (RTI)

This add-on ensures that you get back your bike’s original invoice amount if it is stolen or declared as a ‘total loss’ following a major accident. Your refund amount not only includes the ex-showroom price but also the one-time registration fee, road tax and insurance premiums.

EMI Protection

The EMI protection cover proves to be beneficial when your bike repair or replacement takes more than 30 days. It guarantees to cover up to 3 EMIs on your behalf when the repair period is more than 30 days, thus assuring you an extra layer of financial safety.

Daily Allowance Benefit Plus

With this daily allowance add-on, you can receive up to ₹5,000 per day* if your bike is being repaired at an authorised garage for more than 2 days following an accident. You can use this amount to cover the costs of alternative transportation methods for your daily commute.

Rim Protector

It is not practically possible to fully avoid potholes and debris when riding a bike, and these can heavily damage your bike’s wheel rims. Thus, you can purchase a wheel rim protection cover to prevent financial losses from these types of incidents.

Roadside Assistance

A bike assistance add-on ensures 24/7 support whenever your bike suddenly breaks down, suffers a flat tyre, runs out of fuel, or gets stuck in a remote spot with no garages in sight. It includes emergency fuel delivery, towing, on-site repairs, etc., so that help arrives when you actually need it.

Daily Hospital Cash

Following an accident involving your insured bike, if you are hospitalised for more than 24 hours, this add-on provides you with a daily payout. The coverage applies when your hospital stay exceeds 7 days. Additionally, you receive extra compensation after your recovery.

Voluntary Deductible

By choosing this add-on, you can reduce your bike insurance premium, but every time you raise a claim, you will have to pay a definite portion before the coverage kicks in. Even in the event of a total loss, the same rule will apply, i.e., you have to pay your deductible amount first before we cover the rest.

E-Bike Battery Protect

It covers the repair or replacement costs of your EV bike or scooter’s battery if it is accidentally damaged due to power surges, water leaks, or other types of accidents. This coverage is very useful for riders in Chennai, since the battery is the most expensive component of any EV bike.

Electric Motor Protect

The EV Motor Protect add-on covers the repair costs of your electric bike’s motor or pays for the replacement of its faulty transmission units. So, when you buy it, you can rest assured that if the motor is damaged due to oil or water leakage, your insurance will cover that.

Electric Bike Charger

In the event that your electric bike's charger or parts like cables and adapters are damaged by incidents such as fire, flooding, power surges, or accidents, the electric vehicle charger add-on provides coverage for repair or replacement expenses.

How to Buy

How to Buy and Renew Bike Insurance in Chennai?

Location - Bike Insurance

Buy Online

Go to the top of this page and enter your two wheeler details. For an instant quote.

Select your bike make/model and enter your registration details.

Add your mobile number and the OTP. Next, select your policy and the bike's IDV.

Select any add-ons you require, then review the policy details and final price.

Pay online and complete the CKYC with your PAN details to receive your policy.

Location - Bike Insurance

Renew Online

Go to the form on top of this page and select the “Renewal” tab. You can also tap "InstaRenew" on our IndusInd Insurance app.

Add your brand, model, registration year and number.

Review and update your bike details and check insurance renewal quotes.

If you're adding add-ons, you can use the calculator below to check the overall price.

Complete your payment using multiple methods and receive your policy instantly.

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How to Claim

Bike Insurance Claim Process in Chennai

Location - Bike Insurance

Buy Online

Go to the top of this page and enter your two wheeler details. For an instant quote.

Select your bike make/model and enter your registration details.

Add your mobile number and the OTP. Next, select your policy and the bike's IDV.

Select any add-ons you require, then review the policy details and final price.

Pay online and complete the CKYC with your PAN details to receive your policy.

Location - Bike Insurance

Renew Online

Go to the form on top of this page and select the “Renewal” tab. You can also tap "InstaRenew" on our IndusInd Insurance app.

Add your brand, model, registration year and number.

Review and update your bike details and check insurance renewal quotes.

If you're adding add-ons, you can use the calculator below to check the overall price.

Complete your payment using multiple methods and receive your policy instantly.

Disclaimer: For precise claim-related information, please refer to our policy documents or get in touch with our customer helpline.

Key Takeaways

Many people in Chennai use bikes as a practical transportation option as they offer a fast and simple way to travel in the city's heavy traffic. Whether squeezing through the busy Ranganathan Road or parking your bike in the narrow spaces of George Town, owning a two-wheeler here comes with its own daily struggles. That’s why getting bike insurance in Chennai is essential to remain financially protected from unforeseen incidents.

At IndusInd General Insurance (formerly Reliance General Insurance), we offer bike coverage plans starting at just ₹18 per month*. Choosing our insurance allows you to claim quick, cashless accident repairs at any of our 11,000+ network garages nationwide. Also, we understand that every biker has unique concerns, so we enable you to fully customise your plan by offering a list of 10+ optional add-ons.*

With our IndusInd Insurance app, you can seamlessly find a local network garage and initiate a claim online by accessing the video call feature. So, whether it is a road accident or financial loss due to a natural disaster, we always have your back. Our team not only covers your bike repair costs, but we also support your daily journey to ensure you always enjoy a secure ride.

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IndusInd General Insurance

Aapke Protection ka All-rounder

IndusInd General Insurance is one of the leading general insurance companies in India. The Company offers a well-rounded and comprehensive bouquet of products including Motor Insurance, Health Insurance, and Travel Insurance, and offers customised solutions to meet the protection needs of each customer.

Bike insurance starting at just ₹18 per month*!

Ride Stress-Free Across Chennai!

Starting from Anna Nagar’s vibrant streets to Marina’s wide stretch, our bike insurance plans ensure cashless repairs all season. So, your ride stays smooth through Chennai’s traffic and tropical downpours.

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Voices of Trust

Stories shared by our happy customers!

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4.9 ★ ★ ★ ★ ★ (52)

Murali Krishna Alla

West Godavari

Quick policy issuance

The journey of purchasing Bike insurance from Reliance Insurance (now IndusInd Insurance) felt effortless and user-friendly. It aligns well with what I needed from an insurance policy. I did not feel the need for any other products at this time.

Kunta Naveen

Vizianagaram

Quick policy issuance

Buying a Bike policy through the platform was straightforward and quick. I felt that my protection needs were well addressed with this policy.

Viral Kumarvinu Bhai Patel

Vadodara

Quick policy issuance

From start to finish, the process of getting my Bike insurance from Reliance Insurance Company (now IndusInd Insurance Company) was convenient. I felt that my protection needs were well addressed with this policy. I did not feel the need for any other products at this time. I'm happy with how everything went and feel secure with my policy.

Kuldeep Singh

Shahjahanpur

Quick policy issuance

I recently purchased my Bike insurance and found the experience very smooth. I felt that my protection needs were well addressed with this policy.

Sandeep Kumar

Raichur

Quick policy issuance

Buying a Bike policy through the platform from Reliance (now IndusInd) was straightforward and quick. It met my requirements well and felt tailored to my needs. Currently, I don't think I require any additional plans or add-ons.

Palepuni Raja

Nizamabad

Quick policy issuance

I recently purchased my Bike insurance from Reliance Insurance (now IndusInd Insurance) and found the experience very smooth. I felt that my protection needs were well addressed with this policy. No additional coverage seemed required for my needs. The process felt reliable and I would recommend it to others.

Harish S

Nilgiris

Quick policy issuance

Buying a Bike policy through the platform from Reliance Insurance Company (now IndusInd Insurance Company) was straightforward and quick. It met my requirements well and felt tailored to my needs. Currently, I don't think I require any additional plans or add-ons. I found the entire process trustworthy and efficient.

Aravinthsarathy B

Nagapattinam

Quick policy issuance

The journey of purchasing Bike insurance felt effortless and user-friendly. The plan offered exactly the type of coverage I was expecting.

Dhananjay Nair

Kanyakumari

Quick policy issuance

From start to finish, the process of getting my Bike insurance from Reliance (now IndusInd) was convenient. I felt that my protection needs were well addressed with this policy. I am satisfied with the main policy and don't see a need for extras. I found the entire process trustworthy and efficient.

Rosan Patel

Jharsuguda

Quick policy issuance

Buying a Bike policy through the platform of Reliance Insurance (now IndusInd Insurance) was straightforward and quick. It aligns well with what I needed from an insurance policy. I did not feel the need for any other products at this time. The process felt reliable and I would recommend it to others.

Surendra Kumar Sain

Jhansi

4.5

Value for money

I recently purchased my Bike insurance and found the experience very smooth. I'm happy with how everything went, product offering is fine.

Kulamatiadi Venkat Rama Appa Rao

Hyderabad

Quick policy issuance

From start to finish, the process of getting my Bike insurance from Reliance General Insurance (now IndusInd General Insurance) was convenient. It aligns well with what I needed from an insurance policy. I am satisfied with the main policy and don't see a need for extras.

Uma Devirallabandi

Hyderabad

Quick policy issuance

I had a positive overall experience while applying for Bike insurance. The coverage provided matches my expectations and feels comprehensive.

Raj Kumar Goudburu

Hyderabad

Quick policy issuance

I had a positive overall experience while applying for Bike insurance from Reliance Insurance Company (now IndusInd Insurance Company). I felt that my protection needs were well addressed with this policy. No complementary product was necessary for me at this stage. The process felt reliable and I would recommend it to others.

Vijay Maken

Gurgaon

Quick policy issuance

I recently purchased my Bike insurance and found the experience very smooth. It aligns well with what I needed from an insurance policy.

Manish Kumar Yadav

Gonda

Quick policy issuance

From start to finish, the process of getting my Bike insurance was convenient. The coverage provided matches my expectations and feels comprehensive. No complementary product was necessary for me at this stage. Overall, it was a seamless Reliance Insurance (now IndusInd Insurance) experience and I am satisfied.

Arun Jain

Faridabad

Quick policy issuance

I recently purchased my Bike insurance from Reliance General Insurance (now IndusInd General Insurance) and found the experience very smooth. It met my requirements well and felt tailored to my needs. I am satisfied with the main policy and don't see a need for extras. The convenience and clarity made this a good experience.

Sandip Chandrakant Mali

Dhule

Quick policy issuance

From start to finish, the process of getting my Bike insurance from Reliance Insurance Company (now IndusInd Insurance Company) was convenient. The coverage provided matches my expectations and feels comprehensive. I did not feel the need for any other products at this time.

Jashobanta Parida

Dhenkanal

Quick policy issuance

The journey of purchasing Bike insurance felt effortless and user-friendly. I felt that my protection needs were well addressed with this policy.

Subrata Kumarsahani

Cuttack

Quick policy issuance

Buying a Bike policy through the platform of Reliance Insurance Company (now IndusInd Insurance Company) was straightforward and quick. I felt that my protection needs were well addressed with this policy. No additional coverage seemed required for my needs.

Janet Joshikad

Coimbatore

Quick policy issuance

Buying a Bike policy through the platform was straightforward and quick. The plan offered exactly the type of coverage I was expecting.

Sathiamourthy Priya

Coimbatore

Seamless digital experience

The journey of purchasing Bike insurance felt effortless and user-friendly. The policy coverage and offerings do not match my requirements.

Hiren Kumar Raju Bhai Tailor

Bharuch

Quick policy issuance

I had a positive overall experience while applying for Bike insurance Reliance Insurance (now IndusInd Insurance). The plan offered exactly the type of coverage I was expecting. I am satisfied with the main policy and don't see a need for extras.

Abhishek Neelakantachar

Bengaluru

Quick policy issuance

I recently purchased my Bike insurance and found the experience very smooth. The plan offered exactly the type of coverage I was expecting.

Guru Nathakooni

Bengaluru

Quick policy issuance

From start to finish, the process of getting my Bike insurance was convenient. It met my requirements well and felt tailored to my needs.

Aniket Rai

Bengaluru

Quick policy issuance

The journey of purchasing Bike insurance from Reliance Insurance (now IndusInd Insurance) felt effortless and user-friendly. The coverage provided matches my expectations and feels comprehensive. Currently, I don't think I require any additional plans or add-ons.

Aneesh Krishnan Nair

Bengaluru

Quick policy issuance

From start to finish, the process of getting my Bike insurance from Reliance Insurance (now IndusInd Insurance) was convenient. It met my requirements well and felt tailored to my needs. Currently, I don't think I require any additional plans or add-ons. I found the entire process trustworthy and efficient.

Madhava Rao Nagesh Rao

Bengaluru

Quick policy issuance

The journey of purchasing Bike insurance from Reliance Insurance (now IndusInd Insurance) felt effortless and user-friendly. The plan offered exactly the type of coverage I was expecting. Currently, I don't think I require any additional plans or add-ons. I found the entire process trustworthy and efficient.

Vinita Jain

Ahmedabad

Quick policy issuance

I recently purchased my Bike insurance and found the experience very smooth. It met my requirements well and felt tailored to my needs.

Rupesh Pandurang Khamgaonkar

THANE

Seamless digital experience

Getting my IndusInd two-wheeler insurance policy online was a breeze with a quick step-by-step guide to take me through the process.

Mr Javed Khan Maheboob Khan Pathan

NILANGA

Value for money

My bike is used only for nearby rides, so I wanted simple protection at a sensible price. The plan matched that without feeling costly.

Hemanth Kumar

MAGADI

Easy application

I wanted my RC and insurance papers together on my phone. After finishing the form, I downloaded the copy and saved it with my vehicle documents.

Manoj Kumar Modi

ANGUL

Seamless digital experience

I remembered the scooter renewal after dinner and finished it from home. The steps were short, and the document was ready without any delay.

Sanjaykumar Rajkumar Menase

AKKALKOT

Quick policy issuance

My two-wheeler insurance policy was issued instantly after payment completion.

Vikas Savlani

DAMOH

Easy application

Had a very smooth experience applying for the policy online.

Himanshu Kumar

CHANDI

Easy application

I was a little unsure while entering the registration number, but the steps were simple. I filled it carefully and got the insurance copy soon after.

Govindji Turam Suthar

MUMBAI

Quick policy issuance

I wanted all my bike papers updated before the month-end. I renewed online and downloaded the insurance copy right away.

Satinder Singh

GURGAON

Seamless digital experience

I usually delay insurance work because it feels boring, but this was not confusing. I followed the steps slowly and finished it myself.

Manoj Hirabhai Chudasama

BHAVNAGAR

Easy application

I compared options for my scooter and chose one that did not add things I would never use. The amount felt right for daily local travel.

Nagavenkata Basava Subbareddyped

TIRUMALAGIRI

Easy application

I renewed my two-wheeler insurance during a small break at work. Everything opened properly on my phone, and I did not need to call anyone.

Bonkanpally Raghupathi

NIZAMABAD

Value for money

My scooter is used mostly for quick nearby work, so I wanted the insurance done without much effort. The form was short, and I was able to complete it easily on my phone.

Deepa R

COIMBATORE SOUTH

Quick Policy Issuance

I had taken a second-hand scooter and wanted the insurance sorted properly. The steps were clear, and I could update the details without getting stuck.

S M Karunya Krishna

CHITTOOR

Quick Policy Issuance

I realised my bike insurance had expired while keeping my vehicle papers ready. I renewed it online and got the copy within minutes.

Shivappa Nayakar

BANGALORE NORTH

Quick Policy Issuance

I had to go out urgently and wanted to be sure my bike insurance was active. The message came soon after payment, which gave me peace of mind.

Vimala V

PUZHITHIVAKKAM

Seamless Digital Experience

Our scooter is used by everyone at home for small work nearby. I wanted the insurance active, and the online process was quick enough to finish from home.

Payal Priyadarshani Nath

HYDERABAD

Quick Policy Issuance

I remembered my bike insurance renewal while I was outside. I completed it on my phone and saved the document before riding back.

Murthy Lakshminarasimha Dasari

RAJENDRANAGAR

Seamless digital experience

I forgot about the renewal till the last day. I completed it in the evening and got the policy message quickly, so I could ride the next morning.

Kiran Tanguturi Kumar

PRODDATUR

Value for money

My bike is mainly for office and small errands. I didn't want a heavy premium, and the cover felt enough for my daily riding.

Ramesh Kumar Ramjas Shukla

MUMBAI

Quick policy issuance

I didn't have all my documents handy, but the form only required basic bike details, which made it easy to complete.

Diddi Ramesh

HYDERABAD

Easy application

I don't ride long distances, so I wanted a normal plan for city use. The price felt reasonable for the kind of protection I needed.

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Frequently Asked Questions (FAQs)

What happens to my comprehensive bike insurance if I sell my bike?

If you sell your bike, your comprehensive insurance policy can be transferred to the new owner with proper documentation, or you can cancel it. The No Claim Bonus (NCB) remains with you and is not transferred to the new owner. You may use NCB for your next bike insurance.

How to download bike insurance online in Chennai?

To download your bike insurance, visit our website and log in to your account by entering your phone number. You can then view your bike insurance policy document under the "My Policies" section, from which you can download it by clicking on "Download". You can download your policy via the IndusInd Insurance app.

What is the minimum bike insurance I need in Chennai?

To legally ride a bike in Chennai, you would need at least third-party liability insurance. The premium of a third-party plan varies depending on your bike's engine capacity, and the rates are set by the Insurance Regulatory and Development Authority of India (IRDAI). For instance, if you own a bike in the 150cc to 350cc segment, you will have to pay ₹1,366 for one-year third bike insurance. Conversely, the premium for a comprehensive bike insurance plan will be decided based on various factors like your bike’s age, location, IDV, required add-ons, etc.

How is the premium amount calculated for your bike?

Bike insurance premiums depend on factors like IDV, engine capacity, make, model, registration year, coverage type, add-ons, deductibles, etc. The higher the IDV you choose when buying insurance, the higher the premium tends to be. To save on costs, you may select voluntary deductibles, meaning you will pay a set amount upfront on each claim, with the insurer covering the rest.