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The demand for bike insurance in India is rising fast. According to a TechSci Research report, the India Two-Wheeler Insurance Market was valued at USD 5.66 billion in 2024-25. It is expected to reach USD 8.18 billion by 2031 by growing at a steady CAGR (Compound Annual Growth Rate) of 6.39%.
This clearly shows that more riders choose insurance not just because it is mandatory, but to get financial and legal protection in real-life situations. Also, there are many other reasons to buy bike insurance that benefit the policyholders.
Read till the end to know the solid 7 reasons to buy a bike insurance policy.
What is Bike Insurance?
If you are struggling with the question “What does Bike Insurance actually mean?”, then this section will surely assist you.
The meaning of bike insurance revolves around the coverage and financial protection you get while riding on the road. It is an insurance policy that safeguards you from unexpected expenses arising from accidents, theft, natural disasters, third-party damages, or injuries.
In simple words, bike insurance ensures you stay financially protected whenever something goes wrong with your two-wheeler.
7 Reasons Explained to Buy Bike Insurance
Still thinking about whether bike insurance is really necessary? Here are seven strong reasons that will make the decision super easy for you.
1Mandatory under the law
Third-party bike insurance, along with personal accident cover, is mandatory under the Motor Vehicles Act. If you are caught riding without bike insurance, you can be fined and even face legal action. Buying bike insurance ensures that you ride legally and avoid unnecessary trouble on the road.
Carrying your insurance policy in digital form through DigiLocker or the mParivahan app is completely legal in India. But if you drive without a valid insurance policy, you can be fined between Rs. 2,000 and Rs. 4,000 under the Motor Vehicles Act, 2019.
2Covers Accident Repair Costs
Accidents can happen anytime, and repairing modern bikes can be expensive. A good bike insurance policy pays for these damages and saves you from high repair bills that arise suddenly.
Example: Even a small dent or damaged headlight after a slip can cost a few thousand rupees.
3Protects against Theft
Bike theft is increasing, especially in busy cities. If your bike gets stolen, insurance pays you the insured value of your bike, so you do not suffer the full money loss. This helps whether you have a normal bike or a premium one.
4Covers Natural and Man-made Disasters
Events like floods, storms, fire, or riots can damage your bike without warning. Comprehensive insurance ensures that such unpredictable situations do not become financial burdens. If you buy bike insurance, then you get protection for things you simply can’t control.
5Gives Personal Accident Cover
This cover provides financial support if the rider gets injured, disabled, or dies in an accident. It helps with medical needs or supports the family during tough times.
Example: If a rider suffers a fracture and cannot work for a while, the PA cover helps reduce the financial strain.
6Helps You Save with No Claim Bonus (NCB)
If you ride safely and do not make a claim for a year, your insurer rewards you with a discount on the next year’s premium. Over multiple claim-free years, this discount can grow significantly and make your insurance very affordable. If you buy a bike insurance policy, you also get the benefit of NCB.
Example: Suppose your yearly premium is Rs. 2,000 and the NCB discount you get is 20%, 25%, and 50% for 1, 2, and 5 years of no claims. Here is the table showing the premium amount you need to pay after the NCB discount:
| Claim-Free Years | NCB Discount | Premium You Need to Pay |
|---|---|---|
| 1 Year | 20% | Rs. 1,600 |
| 2 Years | 25% | Rs. 1,500 |
| 3 Years | 35% | Rs. 1,300 |
| 4 Years | 45% | Rs. 1,100 |
| 5 or more consecutive years | Up to 50% | Rs. 1,000 |
Note: This table is just for explanatory purposes. NCB percentage varies for different insurers.
7 Add-ons boost your protection
Add-ons allow you to customize your insurance. Options like Zero Depreciation, Engine Protect, and Roadside Assistance help you handle specific problems more effectively. These add-ons ensure your policy fits your riding habits and gives you stronger overall protection.
You can choose extra covers for stronger protection, depending on your needs.
- Zero Depreciation Cover - Get a full claim without deduction for part wear-and-tear.
- Engine Protect Cover - Covers engine damage due to water ingression or oil leakage.
- Roadside Assistance Cover - Help during breakdowns, flat tyres, or emergencies.
- Consumables Cover - Covers costs of nuts, bolts, oil, coolant, brake fluid, etc.
- Return to Invoice (RTI) Cover - Get the full invoice value of the bike in case of total loss or theft.
- Pillion Rider Personal Accident Cover - Financial protection for the pillion rider.
- Tyre Protection Cover - Covers tyre and tube damage, including labour costs.
- Accessories Cover - Protects costly accessories like fancy headlights, crash guards, or electronic add-ons.
- Key & Lock Replacement Cover - Covers expenses if your bike keys are lost, stolen, or damaged.
- No Claim Bonus Protection - You can retain your NCB even after making a claim.
- Loss of Personal Belongings Cover - Covers theft or damage of items like helmets, gloves, or luggage.
Why is it Good to Buy Bike Insurance Online?
The given reasons will surely eliminate your query regarding the benefit of buying bike insurance online:
- It is quick and easy. You can buy insurance in just a few minutes.
- You can compare different plans and choose the best one for your needs.
- No paperwork is required. Everything is done online and stored digitally.
- You get the policy instantly on your phone or email due to the absence of middlemen.
- You get full clarity of features, prices, and add-ons before buying.
- You can renew or download your policy anytime without visiting an office.
Conclusion
Bike insurance is an easy way to protect yourself and your bike from sudden expenses. It keeps you safe from repair costs, theft, and other unexpected problems on the road. Choosing the right plan helps you ride with confidence and peace of mind. So, stay protected and make sure your bike is always insured.
If you are satisfied with the importance we have discussed above, then buy a bike insurance policy. To get the quote and proceed with the right bike insurance, contact our customer care support.
FAQs
You should buy a bike insurance policy because it protects you from accident costs, theft, natural disasters, and legal penalties. It also gives financial security and peace of mind while riding.
Yes, it is completely safe to buy bike insurance online. You can compare plans, check prices, and get instant policy documents without any hassle. Online buying is faster, easier, and often cheaper.
To buy bike insurance for the first time, visit a trusted insurer’s website, enter your bike details, choose a plan, add required add-ons, and make the payment. Your policy will be sent to your email instantly.
You usually need only your bike’s registration number, previous policy details (if any), and your basic contact information. Most insurers allow a fully digital, paperless purchase.
Yes, you can buy a bike insurance policy completely online. From comparing plans to making payments and downloading your policy, everything can be done from your phone or laptop.
Buying bike insurance online is better because it offers lower premiums, instant policy issuance, no paperwork, easy comparison of plans, and complete transparency.
Choose a plan based on your coverage needs, like comprehensive protection, add-ons (Zero Depreciation, Engine Protect), and your budget. Online comparison tools make selecting the right plan much easier.
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